What is a course result

Attention, read carefully: Depot fright is imminent! (Fictitious fund sale / purchase as part of the investment tax reform)

Rentablo editorial team | Published on |

Anyone briefly glancing at the deposit statement could soon get a real shock: All fund units sold, although the investor never wanted it! But don't worry: it's a pure one fictitious disposalwho at the same time a fictitious purchase in the same amount follows. This is used to determine the profits generated by the end of 2017. These remain tax-free for old stocks (bought before 2009), but only until the end of 2017. All profits thereafter are taxable, although an allowance of 100,000 euros is set.

Investment tax reform: Fund profits from 2018 are also taxable for old funds

Simple example: In 2008 you bought fund shares for 50,000 euros. At the end of 2017, the value of the fund shares was 150,000 euros. Due to the fictitious sale on December 31, 027 and purchase on January 1, 2018, this is the new cost of the funds. When sold in 2025, the value of the fund shares will be 200,000. From 2018 onwards, you achieved a profit of 50,000 euros, which thanks to the tax-free amount of 100,000 euros remain tax-free. However, if the value of the fund units in 2025 is € 300,000, you will achieve a profit of € 150,000 for the tax authorities, of which you will then have to pay tax on € 50,000, minus the tax exemption of € 100,000.

Everything was regulated with the Investment tax reformas of January 1, 2018. "Section 56 (4) of the Investment Tax Act and the corresponding implementing provisions prescribe the custodian banksthat until December 31, 2020 For all customer custody accounts in which there are still investment fund units that were purchased before January 1, 2018, the fictitious sale per security identification number (fund type) must be calculated and stored in the bank system at the custody account level, "explains the fund custodian. And further: "To implement the law, there will be a fictitious sale of fund shares on December 31, 2017 and a fictitious purchase of fund shares on January 1, 2018 on November 21st and 22nd."

At other custodian banks, this will also happen by December 31, 2020, if it has not already been done. Fund brokers like Rentablo have no control over this. This affects all customers who have fund units in their custody account that were purchased before January 1, 2018. However, there is no need for action. The deposit statement could look something like this (source: Fondsdepotbank):

Fictitious disposal:

Fictitious purchase:

Filed under: Custodians, Mutual Funds

2 comments