The Dutch cabinet decided to extend the Temporary bridging scheme for self-employed persons (Tozo) until the summer of 2021. The Tozo is part of the support and recovery package for the economy and the labor market.
The Tozo has two provisions, additional income support and a loan for working capital. The temporary scheme is derived from the social security for self-employed persons (Bbz). Self-employed persons with a household income below the social minimum can claim financial assistance for subsistence under the current scheme. To a limited extent, the new scheme takes into account the financial resources of the self-employed person, such as bank and savings balances and shares. Self-employed persons with available funds not exceeding € 46,520 are eligible for income support. Other assets, such as from an owner-occupied home, shielded pension, business premises, machines, business equipment and stocks, are not taken into account.
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NAZALI TAX & LEGAL |