Many seniors have to submit a tax return every year. Again this year, a lot has changed, which should be taken into account in his statements
Tax expert Steffen Grützmacher explains the key points and also reveals how pensioners can save money with the right explanation.
Who has to pay? "Tax payments are payable to retirees if their taxable income is more than the basic allowance, which is € 8, 130 for single people in 2013 and € 8, 354 for 2014, " explains the expert. For married couples, the double amount applies. Whoever is above, must submit a tax return. Whether it really has to be paid afterwards is just a question of income.
How much is paid? Steffen Grützmacher: "Those who already retired on 1.1.2005 or retired in the course of the year 2005 have a taxation share of 50 percent of their pension, and for the following pensioner years the taxation share increases by two percent annually."
Those who retire in 2013 must therefore tax 66 percent of their pension income. Thus, more and more people with higher pensions, pension adjustments or additional income get into the tax liability. The minimum tax rate is 14 percent. As income increases, so does the tax rate. What's the explanation? A careful tax return can save a lot of money. The expert recommends especially for pensioners to enforce these financial burdens: income-related costs associated with pension income. These include technical literature on the subject or costs for pension advice. If you stay below the advertising fee of 102 euros, you do not even have to list the items individually. Even household-related services (such as care services, domestic help, craftsmen) can reduce the tax burden. You should always transfer the salary, so that you can always prove the expenses with the excerpts later. Extraordinary charges (medication, visual aids, etc.) should be documented with prescriptions and receipts. Persons who have reached the age of 64 before 1.1.2013 can claim the so-called pension relief for additional income (eg 450 Euro job or rental income).
