Austria reveals first model calculations for new income tax reforms

The Austrian government on Friday released first example cases on income tax relief resulting from its new tax reforms, also announced on Friday.

Depending on different segments of the population, the calculations show tax payers will save between 587 and 2,952 U.S. dollars per year.

One example refers to a married couple, of whom the husband works full time and earns 3,665 dollars gross per month, and the wife earns 3,140 dollars a month. As the reforms come into effect at the beginning of 2016, this couple would be left with an extra 2,952 dollars a year, or 246 dollars a month.

Another details a family with two children, in which the father earns 3,140 dollars a month, and the mother 1,152 dollars. As of Jan. 1 2016, this family would have an extra 1,654 dollars a year, or just under 138 dollars a month.

Finally a single pensioner receiving 1,465 dollars a month will be 587 dollars better off per year, or just under 49 dollars a month. Endit