Have you got plans to get a student job? Then it's a good idea to open a current account straight away, because the money you earn with your student job will have to be paid into a current account. Your employer will ask for the details as soon as you start negotiating your contract. Here you will find the most important considerations for working as a student and the financial responsibilities that you will encounter.
Student job: the conditions
Older than sixteen
If you are in full-time education, you can have a student job from when you turn sixteen. Or from your fifteenth birthday if at that point in time you have completed the first two years of secondary school. If you go to school part-time, there are extra rules for you to consider. For instance, as a student, you cannot have a student job and a part-time employment or internship contract concurrently.
Fifty days reduced social security contributions
As a working student, you are entitled to a fifty-day government package in which you can work at a reduced social security contribution rate (2.71% of your gross salary). You may work for more days, but then from the 51st day, you pay the normal social security contribution rate (13.07%) and so at the end of the month, your net salary is lower.
In the past you could only have a student job in specific periods, since 1 January 2012 you are free to decide when and how long you want to work. You can spread the 50 days with reduced social security contributions over a full year if you wish. Note: if you also wish to claim child benefit, you may work a maximum of 240 hours per quarter. You can work as much as you like in the summer, except in the last summer vacation of your course. The 240 hours rule also applies to this period.
Tax or no tax?
Whether or not you have to pay tax on your student work, will depend on your income. If your earnings remain under the upper limit, you won't have to pay tax. This limit changes each year and you can find the details on the Belgian tax authority’s website. Note: be sure to complete your tax return, this is required by law.
And your parents? Depending on how much you earn, you may or may not still be a ‘fiscal dependant’. Again, you will find the maximum amounts on the Belgian tax authority’s website.
What's the next step after graduating?
Once you have graduated, you may be a working student for one more period. If you graduate in June, you may work with reduced social security contributions until 30 September of that same year.
Current account required for a student job
No student job without a current account. Because naturally, you want to see your hard-earned money paid into your account. With a current account you have the guarantee that your employer can transfer your pay to you quickly and easily. Tip: opt for the free KBC Plus Account. This account includes the following:
- Current account with one or two bank cards
- Pimp your bank card with your favourite photo for nothing
- Keep track of your spending easily with secure KBC Mobile
Not 18 yet?
While you have not yet turned 18, you cannot open a current account independently. But don't worry, your parents are your legal representatives and they can easily do that for you, they can authorise you so you can manage your current account yourself. When you turn 18, that authorisation automatically stops and you are fully in charge of your own bank affairs.