Amendment Of The Income Tax Act 1988 And Of The Investment Fund Law 2011

Original Language Title: Änderung des Einkommensteuergesetzes 1988 und des Investmentfondsgesetzes 2011

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156. Federal law be changed with the income tax Act 1988 and the investment fund law 2011

The National Council has decided:

Article 1

Amendment to the income tax Act 1988

The income tax Act 1988, BGBl. No. 400, as last amended by Federal Law Gazette I no. 53/2013, is amended as follows:

1. paragraph 108h para 1 No. 2: "(2. Die Veranlagung der Zukunftsvorsorgebeiträge und der an die Zukunftsvorsorgeeinrichtung überwiesenen Prämien hat zu erfolgen a) for contracts concluded before 1 January 2010 to 30 per cent in shares."

(b) for contracts between December 31, 2009 and August 1, 2013, as well as for contracts concluded before 1 January 2010, when a declaration pursuant to section 108 h para 1 subpara 2 lit. b as amended by Federal Law Gazette I no. 151/2009, was made after the life-cycle model to at least - 30% in shares with taxpayers who have still reached the XLV age not on December 31 of the previous year

-25% in shares with taxpayers who have the XLV age and still not reached the fünfundfünfzigste age on December 31 of the previous year;

-15% in shares in taxable persons who have reached the fünfundfünfzigste age on December 31 of the previous year.

(c) for contracts concluded after 31 July 2013 - at least 15% and not more than 60% in stocks in taxable that still not age; the fiftieth years of age on December 31 of the previous year

-at least 5% and not more than 50% in shares in taxable persons who have completed the fiftieth years of age on December 31 of the previous year.

(d) after lit. (c), if the taxpayer makes a corresponding irrevocable statement until the end of the service contract to the future pension fund. The Declaration of such leads to the termination of the contract, nor to the conclusion of a new contract; the minimum period pursuant to § 108 g para 1 subpara 2 shall remain unaffected thereby. Section 3 Nos. 4 and 5 are to be applied mutatis mutandis. The future pension fund has investment according to the statement from the end of the minimum term pursuant to § 108 g para 1 No. 2, in the case of a later statement from the Declaration, to adapt. The future pension fund has to exhibit a certificate of the amended content of the future pension contract to the taxpayer.

For the calculation of the equity ratio of a future pension fund is the tag value of the total investments to face the tag value of the shares therein. The equity-backing ratio is to determine on an annual average basis. In case of a shortfall at the end of the fiscal year, an increase shall be made within a two-month transitional period. This increase is to allow for the average viewing of the following fiscal year out."

2. in section 108 h para 1 is no. 3 in the first sentence after the phrase "on a regulated market a" the phrase "in a Member State of the European Union or" inserted and it is attached at the end of the following sentence:

"This applies to investments in accordance with Z 2 lit. a and b to 100%; for investments in accordance with Z, 2 lit. c and d for at least 60% of the shares actually held."

3. section 108 h shall be added after paragraph 2 the following paragraph 3 and 4:

"(3) in the case of contracts concluded after 31 July 2013 insurance companies have Z 1 under par. 1 lit. c the taxpayer before his contract declaration in writing to inform about 1 the amount of costs contained in the contributions. the closing costs as a single total amount and the other costs are total amount stating the respective runtime to expel, 2. any other costs, in particular costs, which may occur once or for special reasons and costs, which are charged for a prämienfreie contract management remains the amount that will be invested and invested 3, stating the respective runtime, 4. the statutory provisions to the disposition pursuant to paragraph 1 No. 2 lit. c, as well as the investment in shares referred to in paragraph 1 Z 3, 5. the investment strategy, the way of the composition of investments and their impact on the specific contract, in particular the related opportunities and risks as well as the any way to use of hedging instruments and the associated advantages and disadvantages and 6 the accounting bases (life table, assumed interest rate) to calculate a possible pension and related opportunities and risks. in particular, the taxpayer about it is to find whether the amount of the pension payments is guaranteed.

This information applies as such within the meaning of § 18B of the insurance supervision Act, Federal Law Gazette No. 569/1978, in the applicable version. More legal information requirements remain unaffected.

(4) for corporate provision funds in accordance with para 1 subpara 1 lit. b shall apply Z 1 to 5 para 3 mutatis mutandis."

4. in article 124b is attached following Z 246: "246. section 108 h para 1 subpara 2 lit. d is to apply to statements from August 1, 2013. The contract expires in the year 2013, the taxable person may give anyway, the irrevocable Declaration until 31 December 2013."

Article 2

Changes of the investment fund law 2011

The 2011 Investment Fund Act, Federal Law Gazette I no. 112, last amended by Federal Law Gazette I no. 70/2013, is amended as follows:

§ 171 Z 2, the percentage is "15 vH" replaced by the percentage "5 vH".

Fischer

Faymann