Tax tip: Check exemption orders

Check exemption orders As of 1 January 2023, the saver's lump sum was increased from 801 euros to 1,000 euros; in the case of joint assessment, it rose from 1,602 euros to 2,000 euros. Up to this amount, no taxes are due on capital gains.

Important to know: Exemption orders issued to banks in the past do not have to be reissued - they simply increase by 24.84 percent (increase from 801 to 1,000 euros). However, this proportional increase of all exemption orders issued is not always optimal. Therefore, investors should now take a close look at their exemption orders.

The following example: An investor has given two banks each an exemption order in the amount of 400.50 euros. At Bank A, the investment income is actually 400 euros, whereas at Bank B it is 600 euros.

If the investor does not take action, the exemption order at both banks is increased by 24.84 percent, i.e. to 500 euros each. At Bank A, no capital gains tax is withheld because of the exemption order, but at Bank B there is a taxable capital gain of 600 minus 500 euros exemption order, i.e. 100 euros. On this amount, 25 euros capital gains tax plus a soli of 1.37 euros are due, i.e. 26.37 euros are withheld. This means that the investor would have 100 euros of unused exemption order at Bank A, which he could have used at Bank B.

The investor should therefore correct the exemption orders accordingly. This is usually possible during the current calendar year by stating the tax identification number at both banks online or in writing. As a rule, banks allow adjustments until 15 December of the current year. If the investor changes the exemption order at Bank A to 400 euros and at Bank B to 600 euros, no capital gains tax is paid.

If the investor fails to make a change in this regard or if Bank B can no longer take into account the increase in the exemption order due to capital gains already paid out in the current year, the investor can subsequently claim the full saver's lump sum of 1,000 euros in the tax return.