News about taxes and tax office from 1 January 2024
- Patricia Lederer
- Jan 22, 2024
- 2 min read
New laws and rulings in tax law - What you should know!
Tax Tips & Tricks
January 22, 2024
Tax law has a number of changes in store for 2024:
There's something for everyone! Here's a brief overview of the topics:
Statutory minimum wage increases to €12.41 and mini-job limit is raised:
From January 1, 2024, the statutory minimum wage will be €12.41 per hour. This will lead to adjustments to the marginal income threshold (mini-job) and the transitional income threshold: The marginal income threshold will increase to €538, the monthly limit for mini-jobbers will increase to €1,076, and in exceptional cases, up to €7,532 can be earned per year.
Longer deadlines for final settlements for Corona aid:
Companies that received coronavirus aid must submit their final accounts. The deadline was October 31, 2023, but third-party auditors have until January 31, 2024. In individual cases, an extension of the final account can be requested through a third-party auditor until March 31, 2024. If businesses have not yet submitted a final account, they must do so as soon as possible. Following the audit, the final notification of the amount of funding will be issued, which may lead to confirmations or additional payments or refunds.
Review and adjustment of tax advance payments:
Companies expecting a decline in earnings should currently consider adjusting their tax prepayments. This is an effective way to preserve liquidity. Adjustments to prepayments for 2022 are possible until August 31, 2024. Adjustments for 2023 are possible until June 30, 2025, and an adjustment can already be requested now based on current business figures. Prepayments for 2024 should also be reviewed and adjusted if necessary, provided a usable plan exists.
But how do taxpayers and their advisors keep track of this? What applies to whom and when?
It's easy: With the TaxPro newsletter. Here you'll find all the information you need on current tax topics. For employers and employees, entrepreneurs and freelancers, capital income earners, homeowners, and GmbH shareholders and managing directors.
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