What is saving green
Social awareness has increased sharply in recent years. Among other things, this has led to more attention for sustainable and environmentally conscious entrepreneurship. This is also reflected in the increased interest in sustainable and green savings and investments. Saving green means that the money that is put in is only invested in companies that try to find a balance between environmental impact and profit.
The government is trying to encourage green investment. They do this by making investments in green investments / savings products tax-free. In other words: you do not pay any capital gains tax on the money. You pay tax annually on normal savings above the exemption. This is called the capital gains tax and is a fixed percentage on the savings balance (above the exemption).
With green savings, an extra exemption applies on top of the regular exemption for savings if green savings are made. You may also qualify for an additional tax credit; this is a discount on income tax. However, the tax benefits only apply to products designated for this by the government! Banks must therefore request a green certificate for investments in their green (savings) products. For many green savings accounts this is not done and therefore the benefits often do not apply.
Main properties of saving green
We have listed the most important properties of green savings below:
- the savings are only used for environmentally conscious purposes;
- sometimes a tax benefit applies.
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