Application for extensions and relief for those affected by payments; donations, new clothing, vehicles and computers are partly tax deductible
Vienna (OTS) – In view of the recent severe storms in southeastern Austria, tax and duty relief is available to the affected citizens to ease the financial burden. Floods and landslides in particular have caused considerable damage, hitting people hard both personally and financially. The Ministry of Finance has summarized and published the most important key points regarding tax relief in an information sheet: Information from the Federal Ministry of Finance on tax measures in connection with the current flood disasters at https://bit.ly/4c8C7PB.
“I would like to thank all the emergency services that are deployed in the affected regions. Now it is important to help and to inform the citizens affected about the significant relief that tax law allows in the event of natural disasters. We are doing our best to meet the financial and organizational challenges of these disasters and are standing by people in these difficult times. The federal government is reimbursing the states for 60% of the aid money that they pay out to those affected from the disaster fund. If the fund is insufficient due to exceptional storms, the government is prepared to increase the funds accordingly,” said Finance Minister Magnus Brunner.
Fee exemptions and tax-deductible items
The costs of repairing damage after a disaster, such as pumping out basements, are tax deductible. Repair and renovation costs for everyday items such as cars, PCs, clothing and dishes can also be claimed as tax deductions, provided no insurance or public aid was claimed.
Companies that make replacement investments due to the flood can also benefit from general investment incentives such as the investment allowance and declining balance depreciation. Those affected are also exempt from certain fees and administrative charges, including those for the reissuance of documents such as passports and driving licenses, vehicle registrations or building permits. In the case of damaged apartments or vehicles, fees for new rental or leasing contracts are also waived.
Deadline extensions and payment relief
Taxpayers directly affected by a natural disaster can request extensions for filing tax returns and appeal deadlines. In addition, relief for tax payments and advance payments is possible, including deferrals and adjustments to installment payments.
In addition, payments from the disaster fund and donations for damage repair are tax-free. Donations to eligible organizations, such as volunteer fire departments, are tax-deductible.
Inquiries & Contact:
Federal Ministry of Finance, Press Office
(+43 1) 514 33 501 031
bmf-presse@bmf.gv.at
Johannesgasse 5, 1010 Vienna
#Brunner #Tax #relief #flood #victims #Federal #Ministry #Finance #21.06.2024