Taking a sabbatical and saving taxes at the same time – it works with this model
Created: 03/03/2022Updated: 03/03/2022 15:44
By: Franziska Kaindl
You want a break?
With a bit of luck, you can even save on taxes.
© Martina Kovacova/Imago
Employees generally do not receive a salary during a sabbatical.
But there are ways to finance the time off and save on taxes at the same time.
Many people dream of a trip around the world or a longer break - but often work commitments and financial matters stand in the way.
If you don't want to quit right away, you can talk to your employer about a sabbatical*.
This is unpaid special leave or a limited time-out, which usually lasts between three and twelve months.
With the right strategy, you can not only finance your time off, but also save on taxes at the same time.
How to finance a sabbatical
The magic word is:
working time account
.
And this is how it works: During the savings phase, the employee waives part of his wages while working the same amount.
The unpaid salary ends up on the working time account, also known as the
working time
account.
However, this does not work without the employer's consent, as you have no legal right to it.
Also important: It must be a
long-term working time
account so that the tax office recognizes the model.
It doesn't work with flexi or flextime accounts, for example.
Also interesting
: Five legal tricks for your tax return: It's so easy to get your money back now.
A working time account brings these tax advantages
During the
savings phase
, payments into the working-time value account remain
tax- and social security
-free .
The remaining salary, on the other hand, is taxed at a lower tax rate, since a lower tax rate applies to the lower gross salary.
In addition to parts of the salary, employees can also pay in overtime or bonuses.
Taxes on the money are only incurred in the payout phase during the sabbatical.
However, the reduced tax rate
also applies to these
, so that the paused employee of the so-called "
cold progression
“ can escape.
Another advantage: Since the employment contract continues, the contributions to the statutory pension, nursing care and health insurance will continue to be paid, so that you will continue to have social security.
Also read
: Tax return: With these costs you get a lot of money back.
What you need to look out for with a working time account
According to the online portal
karrierebibel.de
, the prerequisite for the
model
working time account is that the employee has been employed in his company for at least six months and that the company has more than 15 employees.
(fk)
