Stock Tax Austria vs. Germany 2026 — Direct Comparison
Where do you pay less tax as an investor — Vienna or Berlin? At first glance AT (27.5 %) sits higher than DE (25 %). With partial exemption + savings allowance, DE crushes AT for equity ETFs — ~18.46 % vs. 27.5 %. DE wins on loss carryforward — AT wins on bureaucracy.
Key differences in one table
| Aspect | 🇦🇹 AT | 🇩🇪 DE | Winner |
|---|---|---|---|
| Nominal rate | 27.5 % flat | 25 % + Soli + church | ≈ similar |
| Effective Equity ETF | 27.5 % | 18.46 % | 🇩🇪 |
| Effective Bond ETF | 27.5 % | 26.375 % | ≈ similar |
| Allowance | €0 | €1,000 / €2,000 | 🇩🇪 |
| Vorabpauschale on accum. | ❌ no | ⚠️ yes (annual) | 🇦🇹 |
| Deemed distributions | ⚠️ yes (AGE) | via Vorabp. | ≈ same |
| Equity ETF partial exempt. | 0 % | 30 % | 🇩🇪 |
| Loss carryforward | ❌ none | ✓ unlimited | 🇩🇪 |
| Loss offsetting equity | free w/ all (1 pot) | restricted (own equity pot) | 🇦🇹 |
| Crypto tax | 27.5 % (since 2022) | 0 % after 1 yr | 🇩🇪 |
| Securing tax (offshore) | ⚠️ 25 % on 6 % p.a. | — none | 🇩🇪 |
| Domestic broker comfort | ✓ fully auto | ✓ fully auto | ≈ same |
| Foreign broker bureaucracy | ⚠️ E1kv mandatory | Annex KAP optional | 🇩🇪 |
| Stock holding period | abolished 2012 | abolished 2009 | ≈ same |
Concrete example: €50,000 equity ETF, €5,000 realized gain
€50,000 MSCI World, +€5,000 realized in year
→ Berlin saves €716 (≈ 14 % less tax). Over 30 years and many realizations, that's a 5–6 figure wealth difference.
Moving DE → AT — what to consider?
Moving from Germany to Austria with a depot of book gains > €500,000 can trigger German exit tax (§ 6 AStG) — fictional realization of all book gains at capital gains tax. Discuss with tax advisor first; deferral options available. AT has no such exit tax.
If you have unused DE allowance, realize stock gains tax-free in the second half of the year before move. AT doesn't offer this option.
FAQ — AT vs. DE
Where is stock saving better?
For equity ETFs in Germany — effective rate 18.46 % vs. AT's 27.5 %. Plus €1,000 allowance plus unlimited loss carryforward. With active trading and frequent losses, DE clearly wins.
Where is crypto better?
Clearly Germany — the 1-year speculation period makes crypto fully tax-free after a year. AT taxes all crypto gains at 27.5 % since 2022, regardless of holding period.
What about bond ETFs?
AT 27.5 % vs. DE 26.375 % — nearly identical. No partial exemption either side. The savings allowance is DE's edge (€1,000 interest tax-free).
Is moving worth it just for taxes?
Rarely. Annual tax advantage on a typical €100k depot is €1,500–3,000 — amortizes only after years at normal living costs. Tax-only relocations make sense only on multi-million depots.
Which country is more investor-friendly overall?
Germany — via allowance, partial exemption, loss carryforward, crypto period and favorability check. Austria scores on: simple mechanics (flat 27.5 %), no Vorabpauschale, free same-year loss offsetting. For most retail investors, DE is financially better.