Advance flat rate 2024: This is how ETF and fund savers avoid the new tax - financial expert explains in the video

Advance flat rate 2024: This is how ETF and fund savers avoid the new tax - financial expert explains in the video

According to a report by amp.focus.de, an advance flat rate on funds and ETFs will be due in January 2024 for the first time in two years. This tax is levied on fictitious exchange rate gains in the previous year, and banks are obliged to collect it directly from customers. This could lead to clearing accounts slipping into the red and overdraft interest arising.

There is a risk of overdraft interest on clearing accounts
This means that savers who do not have enough funds may have to pay overdraft interest. This is particularly important to note in the case of depots for ETF savings plans, where the clearing account is only viewed as a continuous item. Savers should therefore take measures in 2023 to avoid debiting this advance flat rate.

In terms of the market, the introduction of this upfront fee could lead savers to change their investment behavior and seek alternative investment options. This could have an impact on the fund and ETF market as investors may reallocate their capital.

It is important that savers are aware of how this upfront fee is calculated and what steps they can take to minimize the impact on their accounts. Since the tax is collected directly by the banks, it is advisable to find out about the possible effects at an early stage and to take appropriate countermeasures.