(2022) What is included in private sales transactions?

The regulations for which gains or losses count as private sales transactions are set out in section 23 of the Income Tax Act. For tax purposes, they are classified as other income.

Specifically, the following transactions are considered private sales transactions:

• Sale of non-owner-occupied property within ten years
• Sale of other private assets within one year

Other assets include items such as gold bars, gold coins, foreign currency, or rented transport vehicles.

If you have earned income from these assets, the speculation period increases from one year to ten years. Gains or losses are not considered private sales transactions if they can be attributed to another type of income. The sale of securities and related speculative transactions are classified as income from capital assets, and the withholding tax applies here.

 

Cryptocurrencies can also be the subject of a private sales transaction according to section 23 (1) no. 2 of the Income Tax Act. This means for transactions within private assets: Capital gains from the exchange or re-exchange of Bitcoins, etc. into euros or another cryptocurrency are considered taxable speculative transactions if the purchase and exchange occur within one year. A gain is (only) tax-free if it is below the allowance of 600 Euro.