Key Benefits:
156. Federal law amending the income tax law in 1988 and the investment fund law in 2011
The National Council has decided:
Article 1
Amendment of the Income Tax Act 1988
The Income Tax Act 1988, BGBl. No. 400, as last amended by the Federal Law BGBl. I No 53/2013, shall be amended as follows:
1. § 108h para. 1 Z 2 reads:
| " 2. |
The assessment of future insurance contributions and premiums transferred to the future-care institution must be carried out |
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| a) |
for the conclusion of the contract before the 1. January 2010 at least 30% in shares. |
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| b) |
for contracts concluded between 31 December 2009 and 1 August 2013 and for the conclusion of contracts before the 1. January 2010, if a declaration pursuant to § 108h (1) Z 2 lit. b in the version BGBl. I n ° 151/2009, after the life-cycle model has been submitted at least |
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30% in shares of taxable persons who have not completed the fifty-fifth year of life on 31 December of the previous year; |
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25% in shares of taxable persons who, on 31 December of the previous year, have completed the fifty-fifth year of life and have not completed the fifty-fifth year of life; |
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15% in shares of taxable persons who have completed the fifty-fifth year of life on 31 December of the previous year. |
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| c) |
for the conclusion of contracts after 31 July 2013 |
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at least 15% and not more than 60% in shares in the case of taxable persons who, on 31 December of the previous year, have not completed the fiftieth year of life; |
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at least 5% and not more than 50% in shares in the case of taxable persons who have completed the fiftieth year of life on 31 December of the previous year. |
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| d) |
(c) if the taxable person makes a corresponding irrevocable statement in relation to the prospective payment institution until the expiry of the contractually agreed term. The submission of such a declaration does not result in the termination of the existing contract or the conclusion of a new contract; the minimum term of the contract in accordance with § 108g (1) Z 2 shall not be affected thereby. Paragraphs 3 (4) and (5) shall apply mutatily. The future-care institution shall adjust the apportionment in accordance with the declaration from the end of the minimum term in accordance with § 108g (1) Z 2, in the case of a subsequent declaration from the submission of the declaration. The future-care institution has to issue a document to the taxpayer about the changed content of the future-care contract. |
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| For the calculation of the share ratio of a future-care institution, the daily value of the total apportionment is to be compared with the daily value of the shares contained therein. The share ratio is to be determined on the basis of an annual average. In the event of an undercover at the end of the financial year, an increase shall be made within a two-month transitional period. This increase shall be disregarded for the average amount of the following financial year. " |
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2. In § 108h (1) Z 3, in the first sentence after the word order "on a regulated market of a" the phrase "in a Member State of the European Union or" and it shall be added at the end of the following sentence:
" This applies to anchorage according to Z 2 lit. a and b to 100%; for apportionments according to Z 2 lit. c and d at least 60% of the shares actually held. "
3. In § 108h, the following paragraphs 3 and 4 are added:
" (3) In the case of contracts concluded after 31 July 2013, insurance undertakings pursuant to paragraph 1 (1) (1) (1) have lit. c inform the taxable person in writing prior to the delivery of his contractual declaration of
| 1. |
the amount of the costs included in the contributions, the final cost being the total amount and the other costs, as a total, indicating the duration of the contract, |
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| 2. |
possible other costs, in particular costs, which can be incurred once or for particular reasons and costs which are charged for a premium-free contract management; |
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| 3. |
the amount which shall be assessed and maintained, indicating the duration of the contract, |
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| 4. |
the legal requirements for the apportionment pursuant to paragraph 1 Z 2 lit. (c) and for the apportionment in shares pursuant to paragraph 1 (3), |
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| 5. |
the investment strategy, the nature of the composition of the investments and their impact on the specific contract, in particular the opportunities and risks associated with it, as well as the possible use of hedging instruments and the advantages and disadvantages associated with it, and |
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| 6. |
the accounting principles (mortality table, billboards) for the calculation of a possible pension and the associated opportunities and risks; in particular, the taxable person is to be informed as to whether the amount of the pension payments is guaranteed. |
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| This information shall be deemed to be such within the meaning of Section 18b of the Insurance Supervision Act, BGBl. No 569/1978, as amended. Further legal information requirements shall remain unaffected. |
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(4) For operating pension funds according to paragraph 1 (1) (1) (lit). (b) paragraph 3 (1) to (5) shall apply mutaly.
4. In § 124b the following Z 246 is added:
| " 246. |
§ 108h para. 1 Z 2 lit. d shall apply to declarations from 1 August 2013. If the expiry of the contractually agreed term falls into the year 2013, the taxable person may, in any case, make the irrevocable declaration until 31 December 2013. " |
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Article 2
Changes to the Investment Fund Act 2011
The Investment Fund Act 2011, BGBl. I n ° 112, as last amended by the Federal Law BGBl. I No 70/2013, is amended as follows:
In § 171 Z 2, the percentage "15 vH" by the percentage "5 vH" replaced.
Fischer
Faymann
