As 2022 draws to a close, let's take a look, as we do every year at this time, at what's new for next year. On the menu for this end of December: new developments in terms of tax allowances in Brussels and Wallonia, the consequences of the modernization of our Civil Code and the compliance of company statutes by December 31, 2023.
New tax rules in Brussels and Wallonia
Acquiring housing is a costly expense in Brussels and Wallonia. The governments of the two Regions have understood this well. This is why the tax allowance to facilitate the acquisition of family housing will be increased , under certain conditions. This tax allowance allows the taxpayer to reduce the tax base, ie the amount on which the tax is calculated. In the event of a property purchase, the registration fees are 12.5% in the Walloon Region and in the Brussels-Capital Region. The abatement therefore makes it possible to reduce the registration fees due .
Modification of the Brussels allowance from 1 April 2023
In the Brussels-Capital Region, a buyer can benefit from an allowance of 175,000 euros if the tax base of the accommodation does not exceed 500,000 euros. From April 1 , 2023, this last amount will be 600,000 euros and the allowance will be increased to 200,000 euros .
Same principle for building plots . From April 1 , 2023, the purchaser will be able to benefit from a reduction of 100,000 euros , against 87,500 euros currently. The maximum taxable base making it possible to benefit from the allowance will amount to the amount of 300,000 euros instead of the current 250,000 euros.
The buyer may also benefit from an additional allowance if he carries out work to improve the energy performance of the acquired building. The amount of this additional reduction will depend on the number of energy classes of the building actually improved.
Modification of the Walloon allowance from summer 2023
Currently in Wallonia, a buyer can benefit from a reduction of 20,000 euros. The Walloon government recently announced that it had adopted a draft decree aimed at increasing this amount, to 40,000 euros provided that the price of the property does not exceed 350,000 euros and this from the summer of 2023. The reduction envisaged would be decreasing between 350,000 and 500,000 euros. Beyond 500,000 euros, the allowance would be limited to 20,000 euros.
Similar measure for building land. The allowance would be 40,000 euros for land under 175,000 euros. It would be decreasing for those whose price is between 175,000 euros and 250,000 euros. For land worth more than 250,000 euros, the allowance would be 20,000 euros.
Please note, however, that this is only a preliminary draft and that these measures will only become effective after they have been adopted by the Walloon Parliament.
The new tax rules are subject to certain conditions. Do not hesitate to consult a notary if you intend to buy a property in the near future.
New law of obligations
On January 1 , 2023, the law of obligations will be overhauled. By law of obligations, we mean everything that relates to contracts. Legislation that largely dates from the Napoleonic era no longer meets the needs of modern society. And all the more so in a world impacted by health, energy and other crises.
What should we learn from this development?
The modernization of our Civil Code will make it possible to put an end to controversies, in particular, with regard to the general conditions of contracts.
Another novelty, in exceptional cases, the debtor can ask the creditor to renegotiate or terminate a contract. This is the case if unforeseeable circumstances not attributable to the parties arise after the conclusion of the contract and make its execution excessively difficult.
Obligation to adapt the statutes of companies
If you are an entrepreneur, you have no doubt heard of the compliance of your articles of association following the reform of the Companies and Associations Code (CSA) which came into force on May 1 , 2019. Certain new rules apply automatically to companies. For example, we now speak of SRL (Limited Liability Company) and no longer of SPRL (Private Limited Liability Company). But in some cases, it is up to you to have your articles of association adapted . And this adaptation must be carried out at a notary by December 31, 2023. This date may seem distant, but don't wait until the last minute to contact a notarial office in order to adapt your statutes with complete peace of mind. This will allow you to examine with a notary all the possibilities of the new legislation and to adapt your statutes according to your needs.