[*]The FYE is 30th June and usually stays the same. As we can see the reporting date is similar but different every year.ellaellela wrote: ↑Tue Jun 09, 2020 1:52 pmThank you for the detailed reply. Just to be sure if I understood correctly, could we take a look at https://www.justetf.com/en/etf-profile. ... 00B3RBWM25 for example which has been in existence for several years? Its reporting date is the same: 30th of June. And on OeKB - Profitweb there is the following info:casually average wrote: ↑Tue Jun 09, 2020 3:57 am 1) Date of the annual reporting of a fund with reporting status in Austria:
[*]it has to be 7 months after the fiscal year end of the fund at the latest
[*]the exact date differs, because it depends when the tax representativ reports the annual tax data to the OeKB
[*]best practice: check the reporting date of the fund in previous years on www.profitweb.at ("KESt Meldefonds/Steuerdaten zu Fonds") and transfer some money to your flatex account in advance.
[*]IE00BK5BQT80 is new and has not had an annual reporting yet. You can either transfer some money 3 months after fiscal year end to be safe or just transfer it after flatex charged you with the tax.
2) you will be charged with the tax if you hold the shares of the fund on the date that the annual tax data is reported to the OeKB
[*] don't worry about this one. it's doesn't really matter on the long run.
[*] if you invest only once a year (larger sum) it's better to invest AFTER the annual tax data has been reported to the OeKB so you have less tax to pay for, just from a tax point of view, yes.
[*]correct, the 2019 performance is the basis for 2020 tax on distribution/deemed distributed income. As mentioned above, it matters if you hold the assets on the date of reporting.
If we just concentrate on the last year: if someone bought the shares on 05/06.12.2019 the person would pay the full taxes for the period 01.07.2018 - 30.06.2019? But if the person sold those shares before the next report-date, he would not pay this tax again (but he would pay the capital gains tax) even though he owned the shares during that fond's fiscal year?
And how do they determine the taxes to be paid if the number of shares was varying during this period?
And a question on flatex: do I always need to transfer the money manually or they can just charge my "normal" bank account used during the registration process?
[*]That’s correct, if you buy the shares on 5.12.2019 you must pay taxes on 6.12.2019 (reporting date). Example: The fund has earning of 10€ per share in the period 1.7.2018 – 30.6.2019. Accumulating fund: On the reporting date, you are charged with 2,75€ per share but there is no cash flow. The price of the fund is not affected since all the money stays in the fund. Distributing fund: You receive 10 – 2,75 = 7,25€ net distribution per share. The price per share (net asset value) of the fund is reduced by -10 per share since this is the amount of cash that goes out of the fund. In both cases you must pay 2,75€ taxes per share, the only difference is the cash flow. In both cases you “receive” money earned by the fund in the period of 1.7.2018 – 30.6.2019. This seems unfair at a glance, but this is solved through income equalization within the fund (a certain amount of the price that the investors pay for their new shares is booked as earning of the fund, therefore the earning per share stay the same).
[*]That’s correct. We need to understand that the tax you pay on deemed distributed income, increases your acquisition cost. So, when you sell it, you pay less taxes on capital gains. In the end it is just a timing difference, unless you sell with losses.
The good thing is that you do not have to worry about this. The Austrian bank/broker does it correctly for you. Therefore, I wouldn’t recommend using any Non-Austrian bank/broker (DeGiro), especially for investmentfunds.
[*]The amount of shares the investor owns at the reporting date (6.12.2019) is relevant.
[*]Flatex: You can charge your external bank account with a monthly savings plan up to 1000€. I don’t think you can charge your external bank account automatically if the Flatex cash deposit is negative or below a certain threshold. Could you maybe ask the Flatex support and let us know, because this would be very convenient?
Great questions, hope this is helpful!