Tax Measures at the Turn of the Year - For All Taxpayers

Special editions – Top special editions

The deductibility is with a Maximum amount of €2,920 in addition to a further €2,920 for single earners, and a further €1,460 in total from three children. This limit particularly includes expenses for life, accident and health insurance, expenses for home renovation, and the purchase of young shares. The expenses claimed within these maximum contributions only affect a Quarter tax-deductible from. With an annual income between €36,400 and €60,000 is the deductible amount also reduced uniformly by the lump sum of €60.

Special expenses without a maximum limit and church tax

The following special editions are without a maximum amount deductible without limitthe retrospective purchase of pension insurance periods, contributions to Voluntary continued insurance in pension insurance, certain pensions and perpetual burdens, as well as Tax advice costs (if not already operating expenses/advertising costs). Employees subject to flat-rate taxation can deduct tax consultancy costs as special expenses in any case. Church contributions annually €200 limited (increase to €400 from 2012).

Donations as special expenses

To certain organisationsResearch institutions, public museums, etc.donations to the value of. up to 10% of the previous year’s income can be claimed. If donations have already been deducted as business expenses in the company sector (see the explanations in the „For Entrepreneurs“ section), the maximum amount for special expenses is reduced. Likewise, private (monetary)Donations to charitable organisations (BMF list) Taxes can be saved. The Upper limit (from operational and private donations) is 10% of the previous year’s income. Donations must be evidenced by a deposit slip, if applicable. Donations to Animal welfare organisations as well as to animal shelters first ab 2012 tax-deductible.

Exceptional strains

So that the Excess will be exceeded, it may be advisable, Payments still in the year 2011 prefer (e.g. for medical expenses, installation of a disabled-friendly bathroom). Maintenance costs are only deductible to the extent that they would represent exceptional expenses for the recipient of maintenance themselves. For Catastrophe damage cancelled The Excess. Foreign income is also a determining factor when calculating income, both for the amount of special expenses and for extraordinary burdens.

Tax deductibility of childcare costs

Childcare costs for children bis to 10th year of life with up to €2,300 per child per year as Exceptional strain tax-deductible. Deductibility is limited to actual childcare costs, which may be reduced by the tax-free employer subsidy. Childcare must be provided in private or public Childcare facilities or else professionally qualified individuals success (see also AI 09/11).

Future Provision – Building Society Savings – Premium-Subsidised Pension Provision

The private pension provision subsidised in 2011 to the maximum subsidised amount of €2,313.36 per annum leads to a Government bonus from 8.5 % (€196.64). When Savings contract gibt es eine government bonus from £36 at the maximum subsidised deposit amount of €1,200.

Taxation of capital assets - Caution with share sales before 1 April 2012

The „new“ Taxation from Substance acquisition from securities in the Private assets – for example, it is to be applied to shares acquired after 31.12.2010 and also to bonds purchased after 30.9.2011 – stipulates that in the case of profitable Sale after dem 1st April 2012 25% will be withheld from the capital gain („Securities Capital Gains Tax“The shift to 1 April 2012 also extended the speculative tax until this date. In contrast to the situation before „capital taxation new“, the Speculation period upon the sale of shares not 1 year, but under certain circumstances longer (e.g. 1 year and 3 months for purchase on 01.01.2011 and sale on 31.03.2012). Since within this speculative period the Profits to standard rate taxed werden (maximum tax burden 50%should the sale of securities always be considered whether it is not Wait and see by 1 April 2012 useful is. Out tax reasons is a case of waiting and seeing, and the tax rate will in any event be 25% Recommended (See also KI 06/11). For speculative transactions, the exemption limit is €440 per year.

Image: © dusk - Fotolia