u/Sti_notee

Yesterday's diversification thread got me curious so I ended up doing the boring version of it, basically checking what each asset class actually keeps after Belgian taxes.

The textbook allocation is stocks + bonds + some gold, maybe crypto. Bond ETFs were the first casualty. 30% Reynders on the gains, so with yields around 3% you keep about 2, before TER. The new staatsbon nets 1.93% for doing nothing.
Not sure why I'd take bond fund volatility for that difference. Then I wanted to count gold as the tax free part and turns out investment gold falls under the new 10% CGT now.
Crypto too, the goede huisvader days are over. I also ran the Mintos vs Maclear, P2P lending platforms through the same filter, since the advertised double digit yields look tempting next to all of the above.

Problem, that's interest income, so the full 30% RV, none of the 10k exemption that capital gains get, and since the platforms sit abroad nothing gets withheld for you, you declare it yourself. A 12% headline becomes 8.4% before a single default.
Between 10% on gains and 30% on interest, lending income might be the worst treated return on the whole list now.
The accumulating world ETF just sits there winning by default. 0.12% TOB (if you don't pick the wrong fund, see the Vanguard All-Cap thread from this week), no RV on dividends, 10% only above 10k realized gains per year. And apparently losses only offset gains within the same year, no carryforward, which makes volatile diversifiers even worse. Didn't know that before.

So after a whole evening of spreadsheeting I'm back at world ETF + house + cash, exactly where I started. People here who hold bonds, gold, BTC or any of the lending stuff next to the ETF, what's the actual aftertax argument?