Tax-News | Business-News - Tax Consultant, Auditor, Business Consultant

Real Estate: What should be considered from a tax perspective when selling a rented apartment house?

The private sale of real estate has been subject to real estate income tax for 10 years now. The flat tax rate is 30%. For the calculation of the assessment basis for the tax, the finance department distinguishes between a so-called "old case" and "new case". We summarize for you the tax aspects of selling a rented apartment building. Read article

Investment allowance from January 1st, 2023

In the course of the eco-social tax reform, the investment allowance (IFB) is being reborn after more than 20 years, with which corporate investments will be tax-deductible from 2023. For depreciable fixed assets purchased or manufactured after December 31, 2022, an investment allowance of 10% or 15% in the area of greening can be claimed for the first time in 2023, subject to certain regulations, as an additional tax operating expense. We have summarized for you what needs to be taken into account. Read article

Outsourcing Payroll Accounting in Austria - We advise you in all employment matters

Employing in Austria poses a variety of challenges for companies. It's good to have a reliable partner by your side who has the technical know-how and the resources. Get an idea of our advice and services in the LBG business area “Employer Advice & Payroll Accounting”.

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LBG Austria: Simplified (Digital) Formation of a Limited Liability Company (Gmbh) in Austria

Company founders (start-ups) often decide either to set up a sole proprietorship or to set up a limited liability company (GmbH). When choosing the right legal form for a company business issues, trade law, professional regulations, financing, the clientele, the risks associated with business activity and the associated liabilities, the taxation of both the results generated and the results obtained, questions of social security law, the transfer from private assets to future business assets and the current or future desired group of shareholders play a crucial role. In individual cases, the conclusion of service, rental and lease agreements in the family circle with the GmbH to be set up is important.

Since 1.1.2018, a simplified (digital) formation without a notarial act or notarial certification is possible if a GmbH is set up by a natural person who is also the sole shareholder. The articles of association replace the declaration of establishment of the company. However, the following additional requirements are mandatory.

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BREXIT - VAT effects: Apply for input tax refund from Great Britain (UK) for 2020 by March 31, 2021

The withdrawal of the United Kingdom (UK) from the European Union affects a wide range of legal areas. In terms of sales tax, the United Kingdom has been a third country since the beginning of 2021. In the area of sales tax, the following must be observed:

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UK Companies: Establishment of a Branch Office in Austria

The establishment of a branch in Austria enables foreign legal entities to obtain a trade license in Austria and then to participate in the domestic economic life in a stable and continuous manner. Read article

New database for VAT rates for deliveries to "private individuals" within the EU due to the elimination of the delivery threshold from 1st July 2021

If goods are delivered from Austria to another EU member state to a non-entrepreneur by an Austrian entrepreneur or on his behalf, or if an Austrian supplier is indirectly involved in such transport or dispatch, this delivery applies for VAT purposes from July 1, 2021 as executed in the EU country in which the delivery ends. The previously known delivery threshold will no longer apply from July 1, 2021. For Austrian entrepreneurs, there may be increased registration obligations abroad and the foreign invoice issuing regulations may have to be applied. In order to be able to meet these obligations more easily, the European Commission recently published a database for querying VAT rates in the EU member states. Read article

Employer information: Postponement of the adjustment of workers to salaried employees planned for 1.1.2021 regarding notice periods - New date of entry into force: 1.7.2021

The planned harmonization of the termination provisions for workers with those for salaried employees has been postponed from January 1, 2021 to July 1, 2021 in the course of the current collective agreement negotiations.

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Outsourcing Payroll Accounting in Austria - We advise you in all employment matters

Employing in Austria poses a variety of challenges for companies. It's good to have a reliable partner by your side who has the technical know-how and the resources. Get an idea of our advice and services in the LBG business area “Employer Advice & Payroll Accounting”.

Read article

Employer Information: Longer Termination Periods for Austrian Workers from January 1st, 2021.

Due to the harmonization of the termination provisions for blue-collar and white-collar workers from January 1st, 2021, new notice dates and periods must be observed when employing workers. If a worker is dismissed from 2021 onwards (for example unchanged according to the regulations that apply until December 31st, 2020), this can result in a claim for dismissal compensation. Furthermore, from 2021 onwards, only quarterly termination dates are provided by law. A different, forward-looking service contract agreement on the 15th and last of each month is recommended. As always, special provisions deviating from the statutory provisions in industry-specific collective agreements or individual contractual provisions as well as special provisions in the case of employment due to a temporary need, insofar as these are legally permissible, must be observed.

We have summarized the most important changes and related recommendations for managing directors, board members and HR managers, based on our initial information in the LBG company newsletter from spring 2019.

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