Measures before the end of 2015 - For Entrepreneurs

Following the decision taken in 2015 Tax reform will there be numerous New features, whose effects can be optimised by targeted measures (still in 2015). Otherwise, as every year, there are a few „classics“ for saving tax.

Apply for group taxation

With corporations, the establishment of a Business group the possibility to offset profits and losses of the included companies. This offers, among other things significant positive tax effects. Prerequisites are the required financial link (a shareholding of more than 50% and a majority of voting rights) since the start of the financial year, as well as a corresponding declaration submitted to the tax office Group application. For all capital companies with the calendar year as their financial year (i.e. balance sheet date 31.12.), the group application must be submitted by no later than 31.12.2015 to incorporate so that it still has an effect for the Tax Assessment 2015 unfolds. The same applies to inclusion in an existing corporate group (for example, because a new investment was acquired on 1 January 2015).

Research funding – Research premium

The research premium of still 10% in 2015 it is Tax credit designed and therefore applies in both profit and loss-making years. Furthermore, research expenses are tax-deductible regardless of whether the research premium is claimed. The for the premium relevant research expenditure can Personnel and material expenses for R&D activities, overheads, financing expenses, and investments directly serving research and development (including the acquisition of land). The R&D premium is for Self-research this must be in Inland following) by amount unlimited. To claim the research premium, a positive assessment from the Austrian Research Promotion Agency (FFG) (Requirement via Finanz-Online) required. In contrast, the Basis for remuneration for contract research The prerequisite, in turn, is that it is a domestic contractor – for the client at 1,000,000 € limited. The submission of an FFG expert report is not required for commissioned research. From 2016 Is the research premium 12%, so that a Shift of individual research expenses may make sense in the new year.

Tax-free allowance

The profit allowance is available to all natural persons irrespective of the profit determination method and amounts to up to 13% of the profit. Up to a profit of €30,000, every taxpayer is entitled without proof one Tax-free allowance from 13% (thus €3,900); corresponding investments are required to claim a higher tax-free allowance. Sponsored investments encompass fundamentally Tangible non-current assets or now building loans (convertible bonds for the promotion of construction), no longer (at least temporarily) but securities such as bonds. The useful life or. Retention period Each lasts for 4 years. Securities acquired in previous years will continue to be subject to clawback for the minimum holding period of four years.

If residential construction bonds dedicated to the operation are redeemed before the expiry of four years, then a replacement acquisition can be made through real investments or, within two months, also through a residential construction bond replacement acquisition. If a Flat-rate operating expenses stands only The Tax-free allowance to. The tax-free allowance reduces also the GSVG assessment basis and therefore next to The Tax burden Also die Social security contributions. The Tax-free allowance for profits of €175,000 or more reduced and amounts to 7% for amounts between €175,000 and €350,000, between €350,000 and €580,000, only 4.5%, and for the portion of profits exceeding that amount cancelled The Allowance in full. The tax-free allowance therefore maximal 45,350€.

Advance payments (half-year depreciation) and timing of payment/receipt for income and expenditure calculation software

For investments that after dem 30.6.2015 If the purchase is made, half the annual depreciation can be claimed in the second half of the year, regardless of the date of purchase. The Preferring investments can therefore offer tax advantages by December 2015 at the latest. Low-value assets (up to €400) can be paid immediately in full can be discontinued. E-A calculators can fundamentally, by utilising the inflow/outflow principle, a temporary relocation to tax liability. However, for expenses listed in § 19 (3) of the EStG (e.g. consulting, rental, sales, administrative, interest costs etc.), only a one-year advance payment Tax deductible! Regularly recurring income or expenses that are due at the end of the year are to be allocated to the calendar year to which they economically belong if they are made within 15 days before or after 31st December. So-called „abandoned claims“, which are paid at a later date only at the creditor’s request, are nevertheless regarded as having already been received (in the previous year).

Re-allocation of income and expenditure with a view to tariff reductions

Due to the lower income tax rates from 2016 onwards, it may be sensible to, Revenue into the year 2016 shift or. Bring forward expenses. This applies to income subject to income tax of up to €90,000, as this is covered by the Tax reform profit. For particularly high-earning taxpayers with a taxable income of more than €1 million however, a contrary effect is observed. Here, 2016 saw a Increase des Top rate of tax open 55% (instead of the previous 50%), meaning that, within the limits permitted by tax law, it makes more sense for the individuals concerned to shift their expenditure and bring forward their income.

Compliance with the turnover threshold for small businesses

VAT exemption (without deduction of input tax) is only applicable to a Annual net sales from up to €30,000 possible. Businesses that risk exceeding this threshold in 2015 should – if they apply the cash basis of accounting (e.g. for many freelancers) – the Payment received if possible from 2016 receive. Otherwise, the other revenues already received will also be subject to VAT (retroactively).

GSVG exemption

Small business owner (Annual turnover under €30,000, income under €4,871.76) can be GSVG exempt for 2015 to 31 December 2015 apply. Eligible Young entrepreneur (max. 12 months GSVG compulsory insurance in the last 5 years), persons aged 60 or over (statutory retirement age) or persons over 57 if the aforementioned limits have not been exceeded in the last 5 years.

Retention obligations

With 31.12.15 fundamentally ends 7-year retention obligation for business documents for the year 2008. Records which are relevant to a pending tax or other official/court proceedings must also be retained. Records for properties in Advance tax settlement are 12 years to store for a long time. If properties are not exclusively for business purposes and input tax was claimed on the non-business part, the retention obligation is extended under certain conditions to 22 years. The retention obligation for documents in connection with Properties also amounts to 22 years, when renting out for residential purposes or commercial use of the property from 01.04.2012 begun. Under no circumstances should documents be destroyed which serve as evidence, for example, in product liability, property, inventory, and employment contract law.

Deductibility of donations

Donations from business assets to specific Research institutions and educational institutions serving adult education, as well as universities, can, up to a Maximum amount from 10% be an operating expense of the current financial year's profit.
In addition and in terms of amount Unlimited Can monetary and in-kind donations related to assistance in disaster situations also be claimed, provided they are for the Advertising serve. Also Donations for charitable causes are tax deductible as business expenses. It is essential that the organisation receiving the donation or the fundraising association is in the BMF List appears and that the donation was made in 2015 and can be proven. A double consideration a specific donation as a business expense and as a special expense Not possible. It should also be noted that corporate and personal donations combined must not exceed 10% of the total amount of income.

Securities cover pension provisions

To avoid tax Penalty surcharges must by the end of the financial year Securities in the nominal amount of at least 50% of the tax pension reserve amount shown at the end of the previous financial year Operating assets to be present. The presence of corresponding coverage should therefore be checked before the end of the year.

Energy levy refund

The application for Calendar year 2010 must be completed by 31.12.2015 at the latest.

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