Law changes on July 1 that will impact your wallet
On July 1, the Netherlands will implement new laws and regulations. Here are some that will affect your wallet.
Minimum wage is increasing by 2.42 percent to 14.40 euros per hour for adults aged 21 or older. The youth minimum wage is also rising slightly and will range between 4.32 euros per hour for a 15-year-old and 11.52 euros per hour for a 20-year-old. A breakdown of all the amounts can be found here.
The AOW state pension benefit is tied to the minimum wage and will also increase on July 1. The benefit for single people will increase by 2 percent, and that for an AOW recipient with a partner by 2.1 percent. Other welfare benefits are also tied to the minimum wage and will increase.
The rent freeze for social housing tenants promised by the Schoof I Cabinet died when the government collapsed. That means that rents will increase on July 1. The amount depends on the type of home. Landlords of social housing tenants with a basic rent of 350 euros or more can increase the rent by up to 5 percent. Landlords in the mid-range segment can increase rents by a maximum of 7.7 percent. And those in the private sector can increase rents by 4.1 percent.
If the Tax Authority has been unable to determine your income tax assessment, you will start paying tax interest from July 1. The interest rate this year is 6.5 percent. This does not apply if you filed your tax return before May 1 or if you requested a provisional income tax assessment.
Anyone with leftover vacation days from 2024 better use them soon, because they will expire on July 1. This may be different if you have been on long-term sick leave, so check with your employer.
PostNL is increasing the price of stamps by 10 cents to 1.31 euros from July 1st. According to the postal company, this increase is necessary because postal delivery costs more than it earns. The fare for sending letters abroad will also rise by 10 cents to 2 euros. A registered letter will cost an extra 50 cents at 10.80 euros. The price of a registered parcel is also rising by 50 cents to 10.85 euros.
The prices for internet and TV subscriptions are also rising on July 1, AD reported. Ziggo customers with an internet and TV subscription will pay 3.3 percent more. KPN is hiking prices by 3.3 percent. Delta customers will pay 2.50 euros more for a subscription with a speed of 105 Mbps. The subscription will cost 42.50 euros per month from July.
