Infront Portfolio Manager

Effects on tax evaluations

These regulations have a significant impact on tax-relevant evaluations, particularly during the transition period:

Grandfathering with all special regulations

  • Financial innovations

    • no grandfathering

  • Certificates that are not financial innovations

    • unlimited inventory protection only until purchase including 14.3.2007

    • from purchase 15.3.2007 limited protection until 30.6.2009

    • from purchase 1.1.2009 directly without grandfathering

  • Special funds

    • Protection only until purchase including 9.11.2007

    • from purchase 10.11.2007 no grandfathering

Other important changes

  • Delimitation of validity HEV / no HEV.

  • Deferral of gains on shares and other capital gains.

  • Gains and losses from financial innovations can be offset against the old loss from section 23 in the same way as gains and losses from other securities.

  • Since January 1, 2009, it is no longer possible to deduct income-related expenses.

  • Since January 1, 2009, option writer premiums no longer constitute a separate tax category.

  • Devisentermingeschäfte sind ab 1.1.2009 abgeltungsteuerpflichtig.

  • Profits and losses on non-euro securities must be converted directly into euros on the respective order date.

  • Transactions on accounts and custody accounts marked as "Exclude from tax consideration" must be filtered out for the tax-relevant evaluations.