The new year will begin for some Fund investors with a nasty Surprise. Because in the 2. January 2019 will be the first to be charged the advance fee from your Deposit. About this new tax Fund companies have informed, since the end of October, in letters to your customers, to have any resentment to prevent.

Martin Hock

editor in the economy.

F. A. Z.

Markus Frühauf

editor in the economy.

F. A. Z.

The tax applies to all investors involved in the Fund, the profits to be retained (retain), or do not fully pay. The to met so far on each of the second Fund, especially the passive index funds (Exchange Traded Funds; ETF’s) are very often designed accumulating. However, some have changed, such as Comstage Commerzbank, ETF products distributing, to avoid the new tax.

tax distribution

Still, many Fund investors will be at the 2. January, when you look in your portfolio and notice that you deducted taxes and that they had previously received a payout. The advance fee does not apply to so-called non-cash income. Thus, the income are meant that are not distributed to the investors, but the funds to be retained and re-invested.

the basis of the new tax is the Reform of the Fund taxation at the beginning of this year. A consequence of the Changes to the taxation of the accumulating Fund, they are taxed in the future as continuously as distributing funds. However, the prior flat rate should generally be lower than if the Fund would pay out the income.

Complicated calculation

Earlier, the tax on the accumulating Fund hidden in the withholding tax on the sale. Shares of the Fund that were purchased prior to 2009, remained, so far, at least superficially, even spared. At the beginning of 2019 will not be taxes on the current income, such as dividends or interest paid to the Fund crediting to the share price.

The tax is calculated as a lump sum, and that is complicated. Based on the so-called base income, not of the actually accrued income. The rate of development still play a role. For the calculation of the base earnings 70 percent of the redemption price will be at the beginning of the year 2018, the so-called base rate of interest multiplied.