Hi all,
as the title says, I have been living in Austria for several years, but due to a better job opportunity, I will be starting my new job in Munich in December.
While in Austria, I started investing in an ETF fund (FTSE All World Accumulating) via flatex (AT) - which is an Austrian tax-reporting broker, so they handle all the taxes and other things (they have to by law). It is not a large amount (up to 15k right now) and I have been investing for less than two years.
I plan on continuing investing once the probation period at the new job finishes. I am just unfamiliar what should I do with the investment I have made so far. The way I understand, I could:
1) sell the investment that I have done so far, pay the capital gains tax in Austria and start anew in Germany.
2) transfer the investment from the Austrian broker to a German one. I am curious what would this entail: paying the transfer fee, paying the capital gains tax in Austria? I would also need to wait to open a German brokerage account before doing it.
3) do nothing with the investment. In this case I would continue paying the annual tax in Austria and I would need to report this investment and paid tax to the German tax authority as well.
Question1: Did I miss anything?
Question2: Which one should I choose?
The 3rd option seems like a lot of hassle in the years to come;
the 2nd option should be a one-time-hassle, but what type of bureaucracy acrobatics would I need to perform?;
the 1st option seems the easiest and the cleanest (it is a small investment), but I am not sure how complicated it would become if I sell everything before the fund sends the annual report to the Austrian Kontrolbank - would I still need to pay some additional tax for this year in such case?
Thank you for your time!
[AT/DE] Moving from Austria to Germany
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- Posts: 19
- Joined: Wed Mar 18, 2020 7:43 am
- Location: Austria
Re: [AT/DE] Moving from Austria to Germany
OP,
This should help you...
https://www.zobl-bauer.at/dachmarke/akt ... pierdepot/
Gute Reise!
WienerG
This should help you...
https://www.zobl-bauer.at/dachmarke/akt ... pierdepot/
Gute Reise!
WienerG
Re: [AT/DE] Moving from Austria to Germany
You should just sell everything, pay your taxes and buy it again with a German broker.
Due to the "Wegzugbesteuerung" you still have to pay all the taxes in Austria when transferring the securities to a German broker, you can just delay it when moving to another EU-country but tax gets extremely complicated then so I wouldn't do it unless you have really high unrealized gains. On top of that you have to do an annoying security transfer which often causes problems.
Due to the "Wegzugbesteuerung" you still have to pay all the taxes in Austria when transferring the securities to a German broker, you can just delay it when moving to another EU-country but tax gets extremely complicated then so I wouldn't do it unless you have really high unrealized gains. On top of that you have to do an annoying security transfer which often causes problems.
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- Posts: 19
- Joined: Wed Mar 18, 2020 7:43 am
- Location: Austria
Re: [AT/DE] Moving from Austria to Germany
Thank you both for the input. I was not aware that moving to a different broker (outside of Austria) might trigger a capital gains tax >< And from the looks of it, it seems that there are some additional hoops to jump through if you want to do it cleanly...
So, I will go with the first option: sell all at the Austrian broker pay the capital gains tax and start again with the German broker. Now I just need to figure out how to sell on flatex website xD
So, I will go with the first option: sell all at the Austrian broker pay the capital gains tax and start again with the German broker. Now I just need to figure out how to sell on flatex website xD