Field help:
(2023)
Do you want to apply for the tax allowance according to sect. 16, para. 4 of the Income Tax Act (EStG)?
If you want to apply for the tax allowance according to sect. 16, para. 4 of the Income Tax Act (EStG), select "yes" here.
The tax allowance pursuant to sect. 16, para. 4 of the Income Tax Act (EStG) for permanent occupational disability or upon reaching the age of 55 is granted to any individual only once in a lifetime for a capital gain.
In order to receive the allowance, the following conditions must be met:
- The taxpayer must reach the age of 55 or be permanently incapable of working within the meaning of social security law.
- The allowance amounts to 45.000 Euro and is reduced by the amount by which the capital gain exceeds 136.000 Euro.
- The allowance is granted only one time per taxpayer and only upon request.
In addition to the tax allowance according to sect. 16, para. 4 of the Income Tax Act (EStG), you can also apply for the tax reduction according to sect. 34, para. 3 of the Income Tax Act (EStG).
