Tax compensation 2025: This is how you avoid expensive mistakes and benefit!

Tax compensation 2025: This is how you avoid expensive mistakes and benefit!

workers and pensioners in Austria have the option of receiving significant repayments from the tax authority when paying income tax if they have paid too much wage tax and deduct certain expenses. This affects around 1.7 million people annually. However, frequent mistakes in submitting can lead to financial losses. In particular, corrections after submitting the tax equalization are important: an objection to the decision is possible within one month of delivery. In addition, the application can be modified by a new tax compensation until the notification of notification.

such as [Kosmo] (https://www.kosmo.at/ tax expenses diese-fehler-koennen-kuerden/), remains a correction period of another twelve months after the appeal period expires. Evidence of deductible purchases must also be kept for seven years. From July, an automatic employee assessment without an application will be carried out if a tax repayment is to be expected, but without taking special expenses into account. The average reimbursement of this automatic assessment is 378 euros, while even submitted applications enable repayments of almost 1,000 euros.

family bonus plus and other tax advantages

An important element in tax compensation is the family bonus plus, which must be requested as part of the income tax compensation. As explained BMF, this is a deduction amount to reduce the tax burden for parents. Up to 2,000 euros per child under the age of 18 and up to 700 euros for children over the age of 18 (if family allowance is obtained) can be used. The monthly deduction for children under the age of 18 is 166.68 euros, while it is 58.34 euros for older children.

parents should also know that there is no "lid" on the family bonus plus. This is only limited by its own income tax. With low incomes, the tax burden can even fall to 0, but a payment and no more than is not possible. The family bonus Plus can also be applied for directly via the employer via Form E 30. In the case of separate parents, there is the possibility to split the bonus according to the maintenance payments.

important innovations for 2024 and 2025

This year's employee assessment brings with it some innovations that can lead to higher credits. Repayments of up to 1,000 euros are possible and the additional child amount is raised to 700 euros per child. In addition, the multi -child surcharge is increased to 23.30 euros per child. The single earner and single parent deduction amount will also be raised to at least 572 euros, while the increased traffic deduction is adjusted for 2024. [Simplifytax] (https://www.simplifyax.at/de/blog/ tax-like-entlungen-fuer-familien-s-s-profitten- sie) emphasizes that there are further tax advantages for supporting families, including the additional child amount, which is used with low income.

That is why it is important for all taxable persons to observe the current regulations and possible claims in order to optimally benefit from the existing relief.