It doesn't matter how much it costs - further measures planned against the Corona crisis (2020 economic stimulus law)

As part of the Government meeting In mid-June 2020, the budgetary resources to combat the COVID-19 crisis once again increased. The additional amount is 19 billion euros, so using Overall around 50 billion € The Austrian economy is to be put back on track. From a policy perspective, the so-called "additional rescue costs" in the Life raft to highlight. This Action package and further important steps are to be presented in a summary form below. Most of the measures are included in the so-called "Economic Stimulus Act 2020" contains, which is currently in Assessment draft The decision is expected to be taken by the National Council on 30 June and by the Federal Council on 2 July.

Retroactive reduction of income tax

The Income tax rate for income components exceeding €11,000, 25% reduced to 20% and thus contribute to tax relief. This measure – it is a matter of the Delaying the wage tax reform - soll retroactively ab 1st January 2020 apply and also contribute to the Consumption again to accelerate. Employers must ensure that the benefit from the tax reduction is passed on to their employees through Unrolling bis End September 2020 Anyone who does not pay taxes due to their low income should be rewarded in the form of Social security subsidy an additional negative tax of 100 € You will receive (the SV bonus under the SV refund scheme is therefore a maximum of €400 instead of €300). On the other side of the progressive income tax scale, the Top tax rate from 55% income above €1 million will be maintained until 2025 (instead of 2020).

360 € child bonus per child

To support families - for example, in covering the costs incurred for "home schooling" or the purchase of new school supplies - a Child bonus from 360 € per child contribute. The payment will be made in September together with the family benefit. The "Child benefit"help", which will be available from July 13th Family Crisis Fund It is paid out. In this case, unemployed people as well as those receiving emergency and social assistance with children are automatically included. 100 € per child.

One-time payment for unemployed

Instead of a general increase in unemployment benefits, there should be September an additional one this year One-time payment an unemployed person In the event of. 450 € Those who were unemployed for at least two months between June and September 2020 are eligible to apply.

Action package for companies

The further measures to support companies affected by the Corona crisis are intended to provide a Investment bonus of 14% included in order to stimulate the economic investment appetite again. These COVID-19 investment bonus It can be claimed between the beginning of September 2020 and the end of February 2021. Material and intangible new investments in depreciable fixed assets in Austria are eligible for funding. Excluded of which are climate-damaging new investments (The topic of fossil energy sources), undeveloped land, financial investments, corporate acquisitions and activated self-employed work. In principle, the investment bonus amounts to 7% of the eligible costs - plus a Doubling at 14% occurs when the investment is made, i.e. Digitalisation, The areas of environmental protection, health and life sciences are covered. The implementation of the investment premium is to be carried out through the Amazon Web Services to be done.

The planned amendment to Austrian tax law is a novelty. Loss carry-back In detail, in the year 2020 achieved Losses on request with Winning from the years 2019 and 2018 in return can be obtained (maximum of €5 million). This can therefore de facto lead to a Tax refund The last two years’ worth of revenue is coming in, and therefore the liquidity is increasing. Similarly, presumably (part of) the tax deferrals imposed due to the crisis would no longer have to be repaid at all as a result of the loss carry-back.

One Extension of the fixed cost subsidy (see also KI 05/20) a 6-month extension is also being considered. The fixed cost subsidy and the later, more detailed description "Credit moratorium" They are also supposed to Promote the arts and culture industry and enable a restart of cultural life. Furthermore, the strengthening of the equity base of Austrian companies is also planned – for example through tax incentives or through equity funds supported by the state.

Finally, it is also said that - indefinitely - one degressive depreciation option investments introduced after 30.6.2020, whereby they will be treated equally in the first year up to 30% of the purchase costs taxable of the beneficiary economic good written off can be applied. Specifically, the degressive depreciation represents an alternative to the linear depreciation. However, some Commercial goods of the potential for progressive depreciation excluded its - these include, for example, non-physical or used business assets, buildings (an accelerated linear depreciation plan is planned here), (in principle) Cars and vans, with Fossil energy operated energy production facilities, etc. While a change from the graduated to the linear depreciation method is possible, the reverse is not permitted. For equipment purchased after June 30, 2020: Building should be a Faster depreciation It is possible by using the First year one "triple write-off" and in second year one double depreciation The building can be claimed tax-deductible. For example, in the case of an office building, an AfA of 7.5% applies in the first year and 5% in the second year; thereafter, the AfA of 2.5% continues. By the way, the half-year depreciation rule does not apply to buildings.

Greater leeway in existing loans

Companies often face Liquidity problems, Because longer-standing loans also need to be serviced and rolled over. Credit moratorium It is intended to support small and medium-sized businesses by providing Transformation from investment loans and existing loans in working capital loans The overdue loans have to be repaid much later.

Reduction of the sales tax to 5%

The Value Added Tax open Food and drink, in which Cultural industry as well as in publishing area shall temporarily open 5% reduced to be able to strengthen the sectors that are particularly affected by the COVID-19 crisis, namely the hospitality industry and tourism. In detail, the 5% sales tax rates are to be reduced by July 1, 2020 to December 31, 2020 apply and to Submission all Food and drink in restaurants, on visits to museums, cinemas or Music events and be applicable to the publishing sector. Consequently, less VAT is also levied on food and beverages in alpine huts, as well as on books, brochures, cartographic products of all kinds, etc. Since Austria would then have a total of three reduced VAT rates (5% %, 10% and 13%), a Approval through the EU Commission to this benefit.

The Temporary 5% sales tax rate must also be included in the Registration desk systems corresponding implemented will be. BMF offers answers to common questions in the areas of registration check-out system, signature creation, and receipt creation under https://www.bmf.gv.at/public/informationen/informationen-coronavirus/registrierkassen.html. Furthermore, it is clarified that the new sales tax rate already applies to July 1, 2020 I'm Cash system can be filed and invoiced, so that there are no subsequent adjustments to the invoices and claims for sales tax amounts. After all, between early July and the end of December 2020, even Textual notes or manual corrections on the Evidence be taken without violating the legal requirements for the creation of receipts under the Registration Cashier Security Regulations.

Relief for farmers and foresters

Farmers shall be retroactively applied from 1 January 2020 Higher pensions They will also benefit from the elimination of the solidarity contribution of 0.5%. Similarly, the alignment of the minimum health insurance contribution base will lead to relief of several 100 € per year. The savings for the Accounting obligation significant for agricultural and forestry enterprises Sales limit should eventually be increased from €550,000 to €700,000 increased become.

Extension of tax deferrals until mid-January 2021

Companies affected by the crisis (as well as the financial administration itself) should be freed from administrative hurdles by: Tax arrears automatic until January 15, 2021 extends It will happen. Specifically, this means that tax refunds can be postponed beyond the year 2020 – no new applications or notices of assessment are required.

No tax disadvantages for special payments made under short-time work

When claiming Short-time work can it lead to a higher Taxation of the "holiday and Christmas allowance" (Special payments) are coming. This is due to the very new regulation, according to which all parts of the special payments, which are the average salary ("Control quarter") exceed, at the end of the year, the normal tax rate adjusted will have to be paid. The short-time work scheme means that 80% to 90% of the original salary is paid, which is tax-deductible. Special payments however, by 100% of the original salary measured will be paid. Consequently, for that part of the holiday and Christmas allowance that exceeds the average annual wage (this is the case due to the short-time work scheme), the full income tax must be paid instead of the 6%% preferential taxation. Government has Measures promised to do this Disadvantage in case of short-time work to balance. In general, the rule applies to those whose control quotient is equal to six. Salary against End of the year strong decreases, For example, due to a leave of absence or unemployment - this results in a higher taxation of the special allowances.

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