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When you have to file a tax return as a pensioner - many changes in 2023

2023-02-12T02:57:45.518Z


There will be some innovations for pensioners in 2023 - a lot is also happening in the area of ​​taxes. But when does a tax return become mandatory for pensioners?


There will be some innovations for pensioners in 2023 - a lot is also happening in the area of ​​taxes.

But when does a tax return become mandatory for pensioners?

Hamburg – A lot will change financially for retirees in 2023: your statutory pension will be increased, the tax-free allowance for company pensions will increase and the additional earnings limit for early retirees will be abolished.

This means that pensioners can skim significantly more money this year than before.

But where there is more money, there are often more taxes.

Therefore, the question arises: When do pensioners have to submit a tax return?

This is reported by 24Hamburg.de.

Cash payment without entitlement to consideration:

Tax

Group of taxpayers:

Natural and legal persons

Serve as:

Main source of income of a modern state

Study proves:

Germany is one of the countries with the greatest willingness to finance public goods through taxes

When is a tax return mandatory for pensioners?

The good news first: No, not all pensioners have to submit a tax return.

"As a pensioner, there is only a duty to submit a tax return if the taxable part of the gross annual pension [...] is above the basic allowance," explains Stefanie Pieper, tax expert at the "Vereinigte Lohnsteuerhilfe" (VLH),

T-Online

.

And there is good news in this regard, too, because the basic allowance was increased by 561 euros to 10,908 euros in 2023.

A further increase to 11,604 euros is planned for 2024.

In the case of married couples or people in a registered civil partnership, the double value applies.

You do not have to pay any taxes on your pension up to this amount.

+

When do pensioners actually have to file a tax return?

(24hamburg.de assembly)

© Lobeca/agefotostock/Imago

Submitting a tax return as a pensioner – the basic allowance and pension allowance play an important role

However, another value plays an important role in any tax return at retirement age: namely the pension allowance.

To find out what this non-taxable portion of your pension is, you should look at the year you retired.

Those who retire in 2022 have to pay tax on 82 percent of their pension income - but unfortunately this value also rose minimally in 2023, to 83 percent.

So you only don't have to pay tax on 17 percent of your pension if you start your retirement in 2023.

This slight increase has been going according to plan for years.

The aim is that in 2040 all new pensioners will eventually have to pay tax on 100 percent of their old-age provision.

The basis for calculating the pension allowance is the gross annual pension.

Year of retirement:

Tax share in percent:

Pension allowance in percent:

2020:

80%

20%

2021:

81%

19%

2022:

82%

18%

2023:

83%

17%

2024:

84%

16%

2025:

85%

15%

2026:

86%

14%

2027:

87%

13%

2028:

88%

12%

2029:

89%

11%

2030:

90%

10%

As a pensioner, have your tax return checked by a consultant – otherwise additional payments may be incurred

Despite these explicit requirements, it is worth having the possible submission of a tax return checked by a tax advisor.

"This is how you get ahead of a request from the tax office," explains tax expert Stefanie Pieper

T-Online

.

If you are asked to do so, you should respond quickly, according to the association “Vereinigte Lohnsteuerhilfe”.

Otherwise, the office will estimate the tax situation of the pensioner in question - which can lead to additional tax payments.

Tax return: Vote with us.

Many changes for pensioners in 2023: Pension contributions will also increase

All in all, retirees will face some changes in 2023 - but not only in terms of their tax payments.

An increase in the statutory pension is also planned for this summer.

According to the draft of the pension insurance report, this should increase by around 3.5 percent in western Germany and 4.2 percent in eastern Germany in July.

In addition, the additional earnings limit for pensioners who retire early will be abolished.

In addition, according to the Federal Ministry of Finance, the pension contributions have been fully deductible for all taxpayers since January 1, 2023.

Expenditures for old-age provision can now be fully deducted from taxes.

In this way, pensioners should also be relieved in times of inflation and the energy crisis.

List of rubrics: © Lobeca/agefotostock/Imago

Source: merkur

All news articles on 2023-02-12

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