The inflation premium („Teuerungsprämie“)
The so-called inflation premium “Teuerungsprämie” was passed on 30 June and has already been published. It is intended to enable employers in 2022 and 2023 to grant their employees an additional bonus on a preferential basis due to current price increases. If an inflation premium is paid out, a tax exemption applies in principle for […]
There can only be one Principal Residence
There can only be one Principal Residence. What sets apart Principal Residence from other Domiciles and why is it interesting for tax exemption purposes? If you have more than one residence and plan to sell one of them, it is advisable to check first which residence can fall under the principal residence exemption. In general, […]
FABO+
The Family Bonus Plus or in short FABO+ is a tax credit available for all taxpayers in Austria with children who are entitled to obtain the family allowance. This tax credit is henceforth adjusted to pave way for more family relief. Starting July 2022 a new rate takes place, which is as follows: A monthly […]
E-Bike & Bike as Service Vehicle
Not only biking is good for our environment and health but utilizing a Bike or E-Bike also has its tax benefits when used as a company vehicle. For handing over a service bike to an employee, a benefit in kind or non-cash compensation will not trigger notwithstanding the extent of private use by the employee. […]
The expected social insurance values for 2022
The expected social insurance values are as follows (subject to official announcments): Maximum contribution basis: Daily: 189,00 EUR Monthly: 5.670,00 EUR Annual for special payments: 11.340,00 EUR Monthly for freelancers (“freie Dienstnehmer) without special payments: 6.615,00 EUR Marginal employment limits Monthly: 485,85 EUR Limit for DGA (“subway tax”): 728,78 EUR Limits for unemployment contribution Monthly […]
Extension of bonus for loss of profits (“Ausfallbonus”), compensation for loss of profits (“Verlustersatz”) and other aid measures.
Unfortunately new economic aids are required due to the lockdown. We will provide you with a short overview of the known extensions and expansions. Extension of the compensation for loss of profits (“Verlustersatz”) until March 2022 January until March 2022 are included in the extension Drop in sales must be at least 40% (compared to […]
Extension of short time work (“Kurzarbeit”)
Due to the lockdown starting November 22nd 2021 the short time work aid has been adapted. The unemployment service AMS keeps publishing updates for short time work (“Kurzarbeit). We are providing a short summary of the current status. Please note that each of these points can change at any time and some questions remain without answer. […]
Christmas presents which can be deducted from tax
Each year entrepreneurs wonder how to best deduct presents for employees and clients from tax. It´s key to differentiate who will be the recipient, as different rules apply Client presents Income tax Presents to clients and business partners are usually not tax-deductible business expenses. These costs are part of the so called “non deductible representation […]
The E-Car. Tax benefits and audits through the tax authority
Due to tax benefits more businesses have decided to purchase electric cars. The connection of private and business use is now increasingly examined by the tax office. In case of private usage of the electric company car by the employee no benefit in kind is eligible. The employer also does not have to pay any […]
No more keeping of receipts…
Instead of collecting and keeping receipts “Scan & Upload” is leading the way and also much more efficient. Accounting+ provides a digital high quality receipt archive and automatically ensures absolute order. Imported receipts are correctly booked and connected to the booking once stored. Each receipt is available on your desktop or for printing within seconds […]