Federal Council Approves Growth Opportunities Act
26.03.2024 | < 2 Minuten Lesezeit
The Federal Council has approved the Growth Opportunities Act negotiated in the mediation committee on 22 March 2024. The regulations contained therein can thus come into effect after the announcement of the law. However, the legislative package in the version of the mediation committee contains significantly fewer measures than initially planned.
- Introduction of a declining balance depreciation (degressive AfA) on movable economic goods at a maximum of twice the linear depreciation rate, but not more than 20 %, for acquisitions/productions after 31 March 2024, and before 1 January 2025,
- Introduction of a declining balance depreciation for residential buildings at a rate of 5 %, if construction began after 30 September 2023, and before 1 October 2029, or if a new building is acquired within this period,
- Increase of the deductible loss carryforward beyond the base amount to 70 % for the period from 2024 to 2027 (excluding trade tax; changes to loss carryback are no longer provided for),
- Modifications to the retention benefit,
- Modifications to the option model,
- Regulations on cross-border financing relationships within the corporate group in § 1 para. 3d and 3e AStG (Foreign Tax Act),
- Expansion of the tax incentives for research from the day after the law is announced, including an increase in the assessment basis to EUR 10 million,
- Introduction of electronic invoicing from 2025 with transitional regulations,
- Reduction of bureaucracy, among other things, by raising VAT threshold values.
The following measures, however, are not included in the final version of the law:
- Introduction of a climate protection investment premium,
- Increase of the threshold for low-value economic goods and the lump-sum amount,
- Change of the meal allowances,
- Increase of the tax-free allowance for company events,
- Reporting obligations for domestic tax arrangements.