Capital assets abroad

Dividends, interest and capital gains generally are taxed in Austria with 27,5%. People moving from abroad to Austria will face the problem that their capital assets abroad become taxable in Austria. Questions arise wether foreign paid witholding tax can be credited to the Austrian income tax or not. Capital gains are taxed as difference between purchase price and selling price. Gains unrealized abroad should not be part of the gain in Austria. Many tax payers face the problem that they hold funds abroad. In Austria the income of the fund is taxed yearly. While for “Meldefonds”, reporting funds the problem is minor, people holding “Nichtmeldefonds”, nonreporting funds (black funds) can result in high tax payments. Everyone moving to Austria should optimize their portfolio in order not to pay any additional taxes which in case of black funds can result in a high loss. Please contact me for further information.