€57,684 per person. That is how much wealth you can hold in 2026 before Box 3 taxation begins. For fiscal partners: double it, €115,368 combined sits completely tax-free.
But this threshold is disappearing in 2028. The entire Box 3 system is being rebuilt, and the €57,684 wealth-based exemption is being replaced by a €1,800 result-based exemption. These are fundamentally different concepts.
The 2026 system (current)
- Exempt wealth: €57,684 per person (€115,368 for partners)
- Above that: deemed returns calculated at 0.36% (savings) to 6.04% (investments)
- Tax rate: 36% on the deemed return
- A person with €200,000 in investments pays: (€200,000 - €57,684) × 6.04% × 36% = €3,095/year
The 2028 system (proposed)
- No wealth threshold — ALL assets count from euro one
- Exempt RESULT: €1,800 per person (€3,600 for partners)
- Tax: 36% on actual returns (interest, dividends, gains) above €1,800
- A person with €200,000 earning 5% actual return (€10,000): tax = (€10,000 - €1,800) × 36% = €2,952
Who wins, who loses
- Small savers (under €57K): currently pay nothing, still pay nothing under 2028 (if returns <€1,800)
- Large cash savers: WIN under 2028 (actual savings interest is low, maybe 2-3%)
- Successful stock investors: LOSE under 2028 (taxed on actual gains including unrealised)
- Bad year (losses): WIN under 2028 (pay €0 if actual return is negative; current system taxes you anyway on deemed return)
