KESt 27.5%
Capital gains tax uniformly on capital gains, dividends and interest — since 1 October 2011. Before: 25% on interest/dividends; capital gains tax-free after a one-year holding period. This distinction was abolished without replacement.
No holding period any more
The old speculation period (one year) has been fully eliminated since 2012. Every gain is immediately taxable — regardless of whether sold after one day or ten years.
No allowance like in Germany
Austria does not have a saver's allowance. Every euro of capital income is taxed. No €1,000 tax-free limit like in Germany.
Loss offsetting within a calendar year
Gains and losses within the same year can be offset against each other. ⚠️ However: no carryforward to the next year! A loss in December is lost for tax purposes if there is no sufficient gain in the same year.
Derivatives taxation
Options and futures are generally taxed at KESt 27.5%. However: certificates and structured products (except genuine full-risk certificates) often fall under "income from other services" and are taxed at the personal marginal rate (up to 55%). The Ministry of Finance interpretation is broad — consult a tax advisor in case of doubt.
Reporting vs. non-reporting funds (opacity principle)
Foreign funds must register with the OeKB (Oesterreichische Kontrollbank) as reporting funds. If they do not, they are treated as non-reporting funds and taxed on a lump-sum basis: 27.5% on deemed income of at least 6% of NAV p.a. — often significantly more expensive than direct equity taxation.
❌ Trap: Many US ETFs (Vanguard US, iShares USA) are non-reporting funds. ✅ Solution: Buy UCITS equivalents from Ireland/Luxembourg (e.g. iShares Ireland instead of Vanguard US).
Loss offsetting with broker
Austrian brokers (Flatex AT, Easybank, DADAT, Hello Bank) carry out loss offsetting automatically and send an annual tax certificate. With foreign brokers (IBKR, Swissquote): a detailed tax return using form E1kv is required.
Last reviewed: April 2026