- April 9, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Financial Situation and Investment Strategy in Austria
Hi All,
First of all a bit of information. I currently live with my family in Austria and we recently bought a flat so most of my investments / savings went into downpayment. One of the reasons is that the capital gains tax is quite high (27.5%) and tax law regarding stocks is really complicated in Austria. On the other hand the gain in real estate is tax exempt (as long as you live there in a nutshell).
So my original plan was to try to downpay the mortgage as fast as possible but quickly realised that with 2.7% fixed rate for 20 years it is quite stupid not to rather invest instead (now even “sparkasse” can surpass the mortgage).
Now I am looking at investing again as I have some (~1-2k euro monthly free to invest). Last year I’ve just used some term deposits in CZK as there were good rates 5+ %. But long term I think ETF makes most sense for me as I do not want to think too much about investing.
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Yep, investing in ETFs and stocks will definitely beat term deposits over the long run. I think a lot of brokers and provide you with cheap options – IBKR, Trading 212, Scalable Capital. You can checkout Flatex in Austria – it’s an oldschool broker but might be better for handling local taxes.
Forgot to stress out that I will already have to have tax advisor since I am getting US equities which do jump around like crazy and with the cost basis calculation in Austrian law I gave up on trying to excel that myself.
So I am purely interested in a broker that is compatible with Austrian tax system (so they don’t report gain in fashion the Franz Joseph take all my money all the time). Now I think I would want distributing fund for instance ( but I guess that can be chosen on any broker ). And ideally something with UI in English and maybe an app for phone?