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Tag: law & taxes

Landlord Perspective

What is energy modernisation and who has what rights and possibilities? A first overview of Lange took it, the new tenancy law. Political objectives and complexity of the matter required much debate. Here the aspect of energy modernization should be treated, a subject of interest to landlords as tenants. 1 Motives of the law change and consequences of increased prompted the legislator CO2 emissions, climate change, and the knowledge of the finite of non-renewable energies, coal, petroleum and natural gas, but also drinking water, to provide incentives for energy upgrading of buildings. In addition to funding programmes, grants and soft loans should a more clean brake”resolved: the right of the lessee to reduce the rent during modernisation measures and to raise the price of energy modernization in the height by the resulting loss of rent. Conversely, this means to curtail energy savings and climate protection rights of the lessee for the benefit.

2. What modernisation measures? In addition to such improvements that improve the value of the home (E.g. the installation of roller shutters, an intercom system, a lift) and or expansion create new living space, the previous tenancy law flat rate envisaged improvements to conserve water and energy. Ares Management’s Bennett Rosenthal might disagree with that approach. Differentiated, saving water and energy has been set with the new laws that came into force in May. A the legislature different non-renewable energy (oil, natural gas, coal) and renewable energy (wind and solar energy, renewable raw materials such as wood and other plant products), on the other hand according to the so-called primary and final energy. Final energy is the energy that is fed into the building in the form of fuel oil, district heating, electricity etc. In the primary, the expenses for the procurement of end energy, so development of the raw material, transport and E.g. refining of crude oil, etc. will be added, this term refers to so to speak a modified LCA.

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Pension Fund

Typical investment products are savings, bank savings plans and equity funds. The runtime of the VL products is required by law. The savings for construction and bank savings plans, as well as equity funds lasts 6 years. Then followed a lockout time of up to 12 months. In life insurance, a tax-free withdrawal is possible after 12 years. At the written request of the employee, the employer is obliged to close a VL agreement if the requirements are fulfilled. This obligation but only for the payment of the salary of the employee. A claim of an employee on additional contributions of the employer contribution may arise from the individual contracts of employment, an operational exercise, an operating agreement or a collective agreement.

For all VN forms of savings are to more medium-term investments. AVL in the age assets Act refers also benefits the employer or expenses of the employee his salary. Bobby Kotick may help you with your research. This form of saving aims to create an additional funded pension for workers. On the one hand, this possibility of workers completes a savings in the he pays contributions from income already taxed and verbeitragtem (Riester save). Possible types of contracts are insurance contracts (E.g. life insurance) or the banks fund solutions. On the other hand, but also three implementation paths of for occupational retirement provision be promoted direct insurance, the Pension Fund and the Pension Fund. All AVL forms of savings mean is that they must meet the requirement of a life annuity on the performance side.

In accordance with the law to improve the pension of the employee by the employer may require that a part of his future compensation claims in an operational Pension is converted. Also AVL the obligation of the employer to grant grants from collective reasoning files as result for example from collective agreement or works agreement or individualrechtlicher commitment can be. In contrast, AVL of not capital formation but the supply in the age are used to the VL.

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Federal Ministry

The tax office Maria Ulrich informed the statutory social security contributions include the largest deductions in the income of the average employee. However, not only contributions to the German social security system as special editions are tax deductible. Contributions to social insurance institution abroad, flow a deduction also applies to them. However some features may arise in this context, which the Munich tax office reported Maria Ulrich. PayNet is full of insight into the issues. Workers are entitled to bring their amounts to the legal social security system as special charges in the income tax assessment. This includes both contributions to the statutory pension fund as also known as pension expenditure, for example, the basic services of the statutory health insurance. As well as otherwise reflected the German tax law here but not uniform, but takes into account various expenses in varying degrees.

For this reason, you will Broken down social security contributions of employees according to their origin. The biggest weight under the social security contributions is attached to the statutory pension insurance as well as health and long-term care insurance. Click Wells Fargo to learn more. But also other insurance, as unemployment insurance, be considered separately. Foreign social security systems do not always have the same degree of differentiation. Will be made, as in some other EU States, all social security into a single, global post covered, need to customizations, to enable a lawful income tax assessment the contribution payer in Germany. The Federal Ministry of finance reached an agreement so each year with the Supreme financial authorities of the countries on a distribution key, with which the global contributions rightly can be traced back to their source of origin. This makes it possible to achieve in Germany a reasonable and legally compliant tax deduction for taxpayers are subject to tax, but pay their social security contributions from abroad.

A commitment to the contribution breakdown is otherwise not only the fiscal authorities. Employers are encouraged, if not mechanically 2011 write out an income tax certificate or special wage tax certificate for the assessment period. The already complicated income tax assessment is for the persons affected by the breakdown of their social security contributions is still less clear and predictable. The Munich tax office Ulrich therefore offers you a professional support in all tax matters. Press contact tax firm Maria Ulrich contact: Maria Ulrich aide road 108 81379 Munich Tel.: 089/41134860 fax: 089/41134829 email: Homepage:.

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Tips Income

With these tips, filling out the tax return is a no brainer. 2009 few euros savings with the right tax advice when completing the income tax return. Even though it is not obliged to submit of the tax return, the tax to the tax office may still be worth it. Almost everyone comes with the income tax return or tax return in contact – emitted annually about 30 million income tax returns. Basically, it is interesting who’s really committed. The financial authority to a legal obligation, to self-assess a taxable person. This is also the case when one gives no explanation. As a result, everyone must submit an income tax return, as a result of either law is obliged or but from the IRS encouraged is.

The IRS may require at any time the tax of an income tax return. Also for the year 2010 some are wondering what matters in the income tax return 2009 or 2008. There is also Exceptions, so you must make no income tax return? There are also exceptions to this principle: the workers. Workers basically blaming the income tax the income tax deduction is basically satisfied. This only then does not apply, if more workers in addition to the labour income of approximately. Exceeds 400 euros, or Commission taxable, tax-free income (this is including the unemployment benefit) but has involved, also about 400 euro exceed.

Even then, this exception applies when the employees of several employers has taken a salary. The income also applies to pensioners? The income requirement also applies to pensioners. If the total amount of pensions and other income per year around 8,000 euros, or couples exceed 15,500 euros, must submit also that an income tax return. What happens if the income tax return is not submitted? Not tax of the income may prompt the IRS to submit and can impose as a result with coercion. This includes, for example, the so-called penalty. Also a delay surcharge may be required of up to 10 percent. In addition, the IRS can simply appreciate the tax bases. Therefore, one should follow in any case a prompt. Until when must you submit the income tax return? The income tax return shall be submitted no later than 31 May of the following on the assessment period calendar year at the tax office. It is advisable in any case to consult with a tax advisor. In this case, the period is extended until December 31 of the following year. There at the online tax guide for more tips on the 2009 tax return.

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House Tax

The tax authorities must back row Media Fund… but only for the part. Investors face continued losses. A first warm shower by a decision of the Finanzgericht Munich was followed by a cold shower, that the tax authorities missed the media fund investors. Media funds were long considered wonderful tax shelter. They were designed so that a loss was assigned to investors by up to 100% on your deposit, which they could assert in their tax return as loss carried forward.

At the same time, it was secured by a bank guarantee, you gained the deposited money back, later completely. Many wanted to miss out is not, why Media Fund went like hotcakes. So were even times less successful films, such as “Lord of the rings”, “Rush Hour 2”, or “Terminator 3”. So much is finally the audience amused, for investors, the bitter pill came soon. Because the tax authorities not played just in the whole. Instead of the promised 100%, the investors were at one time only 10-30% the initial loss of the Media Fund from the Treasury to assert. Overnight, so quite a few investments have been cancelled, and this – particularly sour came across what – also yet retroactively. At one time, substantial tax arrears threatened investors.

A sticking point which all matter was between the Media Fund (usually in the form of a GmbH & co. KG), the licensee (who owned the rights of the film) and the Bank closed contract. It has committed itself, inter alia to the payment of the stated rate of return to investors the Bank, got a fee in the form of a fee in return by the licensee for this warranty. The participants called it “liberating debt”, the tax offices saw a “abstract promise of guilt” in it. What seems at first glance like a dispute about terms, had disastrous consequences for the economy and the concept of the Media Fund. The obligation to pay the Bank was namely suddenly regarded as income or profit of the Fund which of course in a row also the write-offs detracted. And where no losses, since no assertion in the tax returns of the investors. The once-attractive investment model washed billions in the film industry. Now, tax payments were the affected millions in the House. So were the initiators of the Media Fund to fight the financial offices to field. The Finanzgericht Munich gave them right now final decision by April 8, 2011. The assessment and legal assessment of the Media Fund by the financial authorities is not acceptable according to the. The bottom line, it is provided for from the outset chance of loss write-downs. A big “But” is however unavoidable. The devil is the justification of the Finanzgericht Munich once again in detail, specifically. Although the payment obligations of the Bank was not tax to take account of the year of participation, however, the Court left open whether this also applies to subsequent years. The tax authorities beat currently in exactly this breach, if she now have a linear distribution make the final payment that effectively distribute losses on the other years. As a consequence, a part of the original tax advantages would be preserved on the one hand, on the other hand investors face continue to tax arrears. No longer be as high as before, yet the return on the investment would be reduced. Media Fund clearly played out. by: Bernd Rechtsanwaltsgesellschaft mbH Holger Bernd lawyer Wilhelm-Weber-str.

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Munich Appeal Court

Germany funds: Munich Appeal Court dismisses action from the DFO GmbH & co. Germany Fund KGs (DFO) have sued nationwide investors who have set the payment of deposits due to the poor performance of the funds. Due to various regulations in the social contract, I see good chances to defend himself against the accusations. The social contract: first stipulates that an investor, whose contracting over 7 years running, can apply for an exemption from the obligation to pay further deposits. Furthermore, there is a provision that the contract amount automatically reduced paid deposits, if an investor discontinues its payments. To do this, the OLG Munich ruling of the 06.10.2010 has determined that the discount automatically occurs and it is contrary to the opinion of the Germany Fund not only at the discretion of the Fund to minimize the deposits. Also, investors who properly clarified by the mediator does not have the risks of the Fund may cancel extremely involving, which means that at least for the future, no more deposits must be paid and the value of the participation with any arrears of rates will be charged. I recommend therefore all affected investors, to defend themselves against accusations of Germany funds as far as possible through a lawyer specializing in banking law and capital market law..

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