Retirees can also deduct income-related expenses from their taxes
Created: 05/07/2022, 11:21 am
By: Janine Napirca
According to a report by Vereinigte Lohnsteuerhilfe, pensioners can also deduct income-related expenses from their taxes.
The
United Income Tax
Aid (VLH) reports that as a pensioner you also have the option of deducting income-related expenses from your taxes.
Here you can find
out exactly what you need to pay attention to and what can be claimed as income-related
expenses for tax purposes.
Pensioners have two options for deducting income-related expenses from their taxes
When submitting the tax return, the tax office deducts
102 euros
from the taxable annual income* and only taxes the rest, as reported by the United Income Tax Aid.
In addition, according to the report, you do not have to tick this flat-rate advertising fee because it will be automatically recognized.
If you had more than 102 euros per year in income-related expenses, you should collect all the receipts for income-related expenses
throughout the year
and enter the total in the tax return on page 2 of Appendix R, according to the Vereinigte Lohnsteuerhilfe.
What actually applies to pensioners as income-related expenses that can be deducted from tax
Income-related expenses for pensioners are expenses that serve to acquire, secure and maintain pensions.
This includes:
Costs that you incurred when applying for your pension, such as legal advice or legal costs (regardless of when these costs were incurred: while drawing the pension, in connection with the application or before)
Loan interest for the additional payment of pension insurance contributions
Account Maintenance Fees
union dues
Costs for pension or insurance advice
Costs for advice on tax issues, for example from the VLH (only for Appendix R)
Source: United Income Tax Assistance
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According to the VLH, if you and your spouse are retired, you are each entitled to a flat-rate allowance of EUR 102 for income-related expenses.
However, according to the report, a
computer, for example, does not count as income-related expenses
that can be deducted from tax as a pensioner because you are no longer in an active employment relationship.
Unfortunately, this also applies if you use the newly purchased PC to prepare the tax return or to communicate with the pension insurance company.
You can also read about when it pays to voluntarily pay into statutory pension insurance and why you should check your pension account regularly.
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