Investment income

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Investment income is a legal term from tax law that describes the assessment basis for investment income tax .


The compound investment income consists of the capital in the form of capital investment and the income as the result of the investment in the form of any consideration of the transfer for use of capital (such as interest income , dividend income , investment income or capital gains ) together. Tax law is about taxing this investment income, for which the investment income tax (KapESt) is intended. However, it is not an independent type of tax , but only a special form of collection of income tax and corporation tax .

Legal issues

The legal basis is Section 43 EStG , which subjects income from capital assets ( Section 20 EStG) to income tax. According to the world income principle , domestic and foreign investment income are subject to the KapESt. The tax must also be deducted if the capital income for the creditor is part of the income from agriculture and forestry , from commercial operations , from self-employed work or from renting and leasing (Section 43 (4) EStG). According to § 32d EStG, the income tax ( tax rate ) for income from capital assets that does not fall under § 20 (8) EStG ( tax deferral models ) is 25 percent of the investment income.

Negative return on investment

In terms of tax law, there is a negative investment income if the fees ( e.g. bank charges ) or costs ( e.g. accrued interest ) exceed the investment income. Up to the amount of the negative investment income, no investment income tax is withheld from positive interest and dividend income, capital gains and other investment income according to Section 43a (3) sentence 2 EStG.

Legal consequences

In addition to wage tax, the KapESt is the best-known form of withholding tax . This means that the debtor of the investment income (e.g. credit institutions , insurers ) may not pay out the full investment income to the creditor, but must withhold the investment income tax and pay it to the tax office ( Section 44 (1) EStG). In this way, income tax is settled ( Section 43 (5) EStG).

Business administration

As a capital gain ( english capital gains ) is called the yield, an investment the investor yields. Depending on the type of investment, there is interest income (from bonds or bank balances ), dividend income (from stocks ), investment income (from investment funds), profit (from equity ), real estate rent or rent (from real estate ). The price gain is also a return on capital.


In Switzerland, savings income is only subject to investment income that falls under the broad definition of interest in Article 9 of the Savings Tax Agreement (ZBStA). On the one hand, direct interest, i.e. interest directly related to claims, on the other hand, also indirectly generated through investments in certain collective investments is recorded. Direct interest includes, in particular, income that is paid out or credited on sale, repayment or redemption of claims. Switzerland has been a paying agent state since the application of the ZBStA .

In Austria , since April 2012, in addition to the above components, capital gains have also included so-called capital gains, which come into effect on the sale regardless of the holding period or the amount of the stake ( asset growth ).

Individual evidence

  1. ^ Anton Heigl, Capital Yield Tax , in: Wolfgang Lück (Ed.), Lexikon der Betriebswirtschaft, 1983, p. 604
  2. Dieter Birk / Marc Desens / Henning Tappe, Steuerrecht , 2013, p. 238
  3. Michael Buchser / Martin Jau, The withholding tax should become a paying agent tax for interest , in: Steuer-Revue, 4/2012, p. 231 f.