NEOS call for relief and an incentive to save millions of savers

2023-05-21 12:01:09

Income from savings accounts up to 1,000 euros tax-free according to the German model

Vienna (OTS) – “Inflation has galloped into mainstream society and people are afraid of falling. It must be the goal of politics that everyone can build something up on their own. To do this, the government must finally relieve people in the long term instead of pulling even more of their hard-earned money out of their pockets,” said NEOS Chairwoman Beate Meinl-Reisinger in today’s ORF press hour.

NEOS therefore want to eliminate the capital gains tax on the first 1,000 euros in income from savings books and accounts. Meinl-Reisinger calculates that this affects 18 million savings accounts and savings books in Austria with an average deposit of 10,000 euros. There is a similar model with the tax allowance for capital gains in Germany, for example. At the same time, NEOS are demanding an exemption from the securities capital gains tax on price gains if a holding period of at least one year has been observed. “Speculators looking for short-term profits will continue to be taxed. People who want to build something up, make provisions or protect themselves from a loss of purchasing power would be relieved,” says Meinl-Reisinger. After all, 1.9 million Austrians – around a quarter of all adults – own securities, according to a recent survey.

Direct relief without fueling inflation

“Relieve people without fueling inflation further. That’s what this massive increase in prices must be about now,” says Meinl-Reisinger. There must be a new promotion promise in Austria. “Everyone should be able to build something on their own.”