Individual - Sample personal income tax calculationLast reviewed - 03 March 2023
Typical tax computation for 2023, based on the projected law and tax rates in effect as of 1 January 2023
- Resident husband and wife
- Two dependent children
- Husband is sole earner:
- Employment in Austria (Austrian employer).
- Austrian social security.
- Employment income paid in 14 instalments.
- Interest income from bank deposits (EUR 11,250)
- Dividends from abroad (DTT country) (EUR 7,030 comparable to Austrian dividends)
|Less: Tax-favoured portion (13th and 14th salaries) ((77,000 / 14) x 2)||(11,000.00)|
|Less: Social security contributions||(11,959.20)|
|Less: Standard allowance: Business expenses||(132.00)||23,091.20|
|Less: Personal allowances: Family bonus plus||(4,000.00)|
|Less: Personal allowances: Sole earner||(704.00)|
|Less: Personal allowances: Transportation credit||(400.00)||(4,069.00)|
|Income tax on 13th and 14th salaries ((77,000 / 14) x 2)||11,000.00|
|Social security contributions||(1,883.20)|
|For 13th and 14th salaries||(620.00)|
|Assessment basis (6% of 8,496.80)||8,496.80||509.81|
|Add: 25% special tax on interest and 27.5% on dividends||4,745.75|
|Income tax liability||14,452.96|
|Foreign tax credit for WHT on dividends (assume 10% of 7,030)||(703.00)|
|Total income tax payable||13,749.96|