Auditing increases the reliability of your corporate information for all decision-makers - it's all about credibility and trust. This applies to the statutory...
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Audit of annual and consolidated financial statements
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At Grant Thornton, outsourcing represents more than US$250 million of our business. Whatever the size of your organisation or wherever you are in the world, we...
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Bookkeeping & Financial accounting
Financial accounting is the basis for many decisions in the company. Only those who prepare their figures clearly and get a good overview of their company can recognize weak points in time and react to negative developments. The use of state-of-the-art software (BMD) allows you to access your figures at any time. Digital document management and a document management system for data archiving are a matter of course. We take care of your financial accounting.
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Preparation of annual & consolidated financial statements
Depending on the size of your company and the legal form chosen, you are obliged to prepare annual financial statements. In addition, shareholders, owners and management want to be provided with financial information on a regular basis. We support you in fulfilling your recording obligations and thus ensure that you present companies, the bank and other addressees with meaningful and reliable figures.
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Payroll Services
Payroll services are among the subject areas that are changing rapidly and constantly gaining in complexity. This is where tax law, social security law, labour law, residence law and other legal matters come together. Our experts will help your team to stay up-to-date and solve complex issues. But we are also happy to take care of your entire payroll accounting.
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Tax Compliance
Tax authorities keep entrepreneurs and freelancers constantly engaged with tax issues, so they play a central role in almost every business decision. Depending on your needs, our services range from the preparation of tax returns, the execution of tax calculations with a thorough review of the data as a basis for assessment, to international tax compliance for several countries.
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Robotic Process Automation (RPA)
Robotic Process Automation (RPA) is a software-based technology that mimics a series of activities within and between systems based on a set of instructions typically to complete a process.
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Valuation
Valuations are a core competence of Grant Thornton Austria. As auditors and tax advisors we combine profound know-how with our practical experience to offer you customized solutions for your valuation assignment. Our industry expertise is based on years of services to our clients, including listed companies as well as owner-managed companies with an international focus. We advise on valuation matters related to arbitration and provide expert opinions.
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Forensic Services
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Transaction Support
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Sustainability Services
Sustainability is no longer a trend, but the only way to create a future worth living. Our experts will support you in successfully developing your sustainability strategy and preparing your sustainability reporting in compliance with regulations.
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Merger & Acquisition
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Restructuring & Going Concern Forecast
Restructuring & Going Concern Forecast: Bundled services for your strategic, operational and financial decisions offer the right answers for companies, banks, shareholders and investors.
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Internal Audit
Internal Audit helps companies and organisations to achieve their goals by analysing and evaluating the effectiveness of risk management, controls and management and monitoring processes. Internal Audit focuses on independent and objective audit (assurance) and consulting services that improve the value creation and business activities of your company.
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Expert dispute resolution & advisory
Grant Thornton Austria offers comprehensive services in the field of business-oriented expert services with a broad range of competencies from banking to communication. The core activity of experts is the objective recording of findings and the preparation of expert opinions - regardless of all external circumstances. Our experts Gottwald Kranebitter and Georg H. Jeitler, as sworn and court-certified experts, ensure that the highest professional standards and the principle of objectivity are observed.
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Blockchain and Crypto-Asset
Blockchain as a carrier technology for crypto currencies and smart contracts, among other things, is becoming increasingly important. Grant Thornton Austria offers comprehensive audit and confirmation services for block chain technologies and business models.
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Corporate & Brand Strategy
We support you in developing growth strategies for a sustainably successful future and in maximizing the potential of your brand.
Grant Thornton supports clients on their digital transformation journey. Our experts offer customised cyber security solutions for secure digital assets, use...
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Cyber Security
Cyber incidents, IT system failures, the resulting business interruptions and the loss of critical data are one of the greatest business risks for companies. Recent cases underline the need for strategic protection and awareness of the issue and require a holistic approach and technical expertise that takes into account all legislative, regulatory and technical aspects of cyber security to protect companies against the daily increase in cybercrime incidents.
In addition to our service lines - Audit, Tax, Accounting & Payroll and Advisory - Grant Thornton Austria also offers international services. Our experts...
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International Project Coordination
Our International Engagement Management team is your central point of contact for international projects in all our service lines. We take care of operational project management for you and act as a central point of contact and coordination for your projects. We support companies that start international projects from Austria as well as companies from abroad that want to gain a foothold in Austria or use Austria as a hub for their international projects, especially in the DACH (Germany, Austria and Switzerland) and CEE region.
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International Desks
As a member of the Grant Thornton network, we guarantee direct access to resources from our worldwide circle of partners. This global connection enables us to seamlessly integrate highly qualified specialists and industry experts from different countries around the world into our teams. Through our broad perspective and diverse expertise, we ensure that we can optimally meet the individual requirements of our clients in an increasingly globalised economy.
We combine industry knowledge, expertise and experience
Our experts at Grant Thornton Austria serve companies and organisations across Austria in a wide range...
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Rapid change and complexity are norms, and innovation the fuel in the technology industry. Today’s revolutions – including cloud, as-a-service, social media...
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In this article we inform you about the current measures and developments concerning the deductions/limits of additional earnings as of 01.01.2023, the new regulations regarding the commuter allowance and reduced public transport ticket as of 01.01.2023, and new additional triggers of mandatory personal income tax returns.
Contents List
Deductions (Tax Credits) and Limits of Additional Earnings as of 01.01.2023
Childcare Allowance: New Limits for Additional Earnings as of 01.01.2023
The limit for additional earnings for childcare allowance recipients (lump-sum system independent of earnings) will increase from EUR 16,200.00 to EUR 18,000.00 as of 01.01.2023. For recipients of the earnings-related childcare allowance, the limit for additional earnings will increase from EUR 7,600.00 to EUR 7,800.00 per year.
Sole-Earner Deduction/Single-Parent Deduction (AVAB/AEAB) § 33 Abs. 4 Z 1 and 2 EStG 1988
Alimony Deduction § 33 Abs. 4 Z 3 EStG 1988
Transportation Deduction (VAB) § 33 Abs. 5 Z 1 - 3 EStG 1988
Pension Deduction (PAB) § 33 Abs. 6 EStG 1988
Commuter Allowance in Conjunction with Travel Allowance/Job Ticket
Commuter allowance and reduced public transport ticket regulations up until 31.12.2022
Until 31.12.2022, the following applied: If the employer provided tickets or (partially/fully) reimbursed the costs for public transportation (‘job ticket’), the employee was in most cases not entitled to the commuter allowance. This applied regardless of whether the job ticket could be used for the whole commute or just part of the route.
Commuter allowance in conjunction with travel allowance and job ticket as of 01.01.2023
As of 01.01.2023, the commuter allowance is calculated in a first step without consideration of any public transportation tickets provided/reimbursed by the employer. Subsequently, that amount must be reduced by the value of the public transport ticket.
In case of a one-third commuter allowance claim, the allowance must be divided by three and subsequently reduced by the value of the public transport ticket (the commuter euro must also be divided by three).
The commuter euro is due for the entire distance (home-workplace), even if the commuter allowance is zero due to the deduction of the commuter allowance. If the public transport ticket is available for longer periods than one calendar month, the monthly contribution is determined on a proportional basis.
Mandatory Personal Income Tax Return – Additional Triggers
Inflation Premium
In the year 2022 and 2023, the employer may pay a tax-free and contribution-free inflation premium to their employees of up to € 3,000.00 per employee per calendar year (special payment).
If more than one employer pays an inflation premium within the same calendar year (either parallel employment relationships or consecutive employment relationships), and the sum of the paid inflation premiums exceed the limit of € 3,000.00, the tax-exempt amount of € 3,000.00 must be split between the employments proportionately.
Employees who receive tax-free inflation premiums of more than € 3,000.00 per year are subject to mandatory income tax returns. This is to make sure that any inflation premium exceeding € 3,000 is taxed correctly (taxable income).
The tax-free inflation premium will not affect the entitlement to an early retirement pension. Likewise, the childcare allowance remains unaffected by the granting of a tax-free inflation premium (applicable to both childcare allowance systems: earnings-related or lump-sum).
The inflation premium for 2022 can be paid retroactively until 15.2.2023 (payroll roll-up). This offers a last chance for late filers.
Employee shares
The mandatory PIT return will also be triggered if the sum of tax-free employee shares and tax-free inflation premium exceeds the total amount of € 3,000.00.
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Senior Manager
