One-time financing costs
Enter one-time closing costs so NettoWise includes the deduction.
One-time financing costs are expenses you pay when closing your mortgage. In NettoWise you can record these costs so the deduction is included in the correct tax year.
These costs are fully deductible in the year you pay them, as long as they relate exclusively to the owner-occupied home loan.
Which costs fall under this
Examples of one-time financing costs:
- Advisory and brokerage fees
- Notary fees for the mortgage deed
- Appraisal costs
- NHG fees
- Early repayment penalty
How to enter this in NettoWise
- Go to
Portal->Data->House. - Click
One-time financing costs. - Enter the amount and period.
- Save.
When this deduction applies
These costs are deductible in the tax year in which they are paid, as long as they only relate to the owner-occupied home loan. This is the part of the loan used for purchase, maintenance, or improvement of your home.
Swen van Zanten
Developer