04 tax workbench · current for 2026
See the net return first. Then the tax components, assumptions, and the point where the saver allowance applies.
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The Abgeltungsteuer is a flat 25 % tax on capital gains. Including the Solidaritaetszuschlag (solidarity surcharge of 5.5 % on the tax), the effective rate is 26.375 %. If you pay church tax (Kirchensteuer), the rate rises to 27.82 % (at 8 % church tax) or 27.99 % (at 9 % church tax), because the Soli is slightly reduced when church tax applies.
No. Although the Soli was eliminated for most income-tax payers since 2021, it still applies in full to capital gains. Capital gains are not covered by the income-tax exemption threshold, so the 5.5 % surcharge on Abgeltungsteuer continues to be charged.
The two terms are used interchangeably. Kapitalertragsteuer is the legal term for the withholding tax on capital gains. Abgeltungsteuer (literally 'settlement tax') refers to the fact that once this tax is paid, your capital gains are fully settled for income-tax purposes, with no further reporting in your tax return required.
Yes, losses from investments can be offset against gains from investments. However, there is an important restriction: losses from stock sales may only be offset against gains from stock sales (§ 20 Abs. 6 Satz 4 EStG). Losses from other types of investments can be freely offset against all forms of capital income.
If your personal income-tax rate is below 25 %, you can apply for the Günstigerprüfung (§ 32d Abs. 6 EStG). The Finanzamt (tax office) then checks whether taxing your capital gains at your lower personal rate would be more favourable. The difference from the Abgeltungsteuer already withheld is refunded. This is especially relevant for people with low overall income.
What remains of your dividend after Abgeltungsteuer, solidarity surcharge, and church tax?
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Aktuell für 2026Type of Earnings
Your Tax Profile
of EUR 1.000
Your Capital Gains Tax
EUR 1.000,00 stays tax-free. The remaining EUR 4.000,00 carries capital gains tax and solidarity surcharge.
Saver's Allowance (Sparerpauschbetrag)
FSA = EUR 1.000,00
Taxable Income = EUR 5.000,00 − EUR 1.000,00 = EUR 4.000,00
Tax Calculation
KAP = EUR 4.000,00 × 25% = EUR 1.000,00
Soli = EUR 1.000,00 × 5,5% = EUR 55,00
Total Tax = EUR 1.000,00 + EUR 55,00 = EUR 1.055,00
Net & Effective Rate
Net = EUR 5.000,00 − EUR 1.055,00 = EUR 3.945,00
Effective Tax Rate = EUR 1.055,00 ÷ EUR 5.000,00 = 21,10%
The Abgeltungsteuer (§ 32d EStG) is Germany's flat-rate withholding tax on investment income. It consists of up to three components that together determine the effective tax burden.
1. Kapitalertragsteuer (Capital Gains Tax, KAP): 25%
The base rate is 25% on taxable investment income after deducting the Sparerpauschbetrag (saver's lump sum). Your bank withholds this tax automatically and remits it to the Finanzamt (tax office).
2. Solidaritätszuschlag (Solidarity Surcharge, SolZ): 5.5% on the KAP
The Solidaritätszuschlag is not levied on the investment income itself but on the capital gains tax.
SolZ = KAP × 5.5% = Investment income × 25% × 5.5% = Investment income × 1.375%
Without church tax, the total tax burden is 26.375%.
3. Kirchensteuer (Church Tax, KiSt): optional, 8% or 9%
Investors who are members of a church that collects church tax pay an additional Kirchensteuer on the capital gains tax. The rate is:
Investors who pay Kirchensteuer benefit from a reduction in the tax base for the KAP. The reason: church tax is deductible as a Sonderausgabe (special expense). Without the adjustment, the KAP would be levied on an amount from which church tax is subsequently deducted — a circular calculation.
KAP_adjusted = taxable amount × 0.25 ÷ (1 + KiSt_rate × 0.25)
With 9% church tax and EUR 1,000 in taxable investment income:
KAP = 1,000 × 0.25 ÷ 1.0225 ≈ 244.50 EUR
KiSt = 244.50 × 9% ≈ 22.00 EUR
SolZ = 244.50 × 5.5% ≈ 13.45 EUR
Total ≈ 279.95 EUR (≈ 28.00%)
| Church Tax | Effective Total Rate |
|---|---|
| None | 26.375% |
| 8% (Bavaria / Baden-Württemberg) | approx. 27.82% |
| 9% (all other states) | approx. 28.00% |
Investment income up to the Sparerpauschbetrag (§ 20 Abs. 9 EStG) is tax-free:
| Filing Status | Amount |
|---|---|
| Single | 1,000 EUR |
| Joint filing (married / registered civil partnership) | 2,000 EUR |
If you have not set up a Freistellungsauftrag (tax exemption order) with your bank, the bank will withhold Abgeltungsteuer from the very first euro of income — and you will have to reclaim the overpaid amount through your tax return. The Freistellungsauftrag can be split across multiple banks, but the total must not exceed the Sparerpauschbetrag.
NV-Bescheinigung (Non-Assessment Certificate): Individuals whose total income is below the basic tax-free allowance (Grundfreibetrag) can apply to the Finanzamt for a Nichtveranlagungs-Bescheinigung. With this certificate, the bank will not withhold any capital gains tax.
If your personal income tax rate is below 25%, you can request that your investment income be taxed at your regular rate instead. The Finanzamt performs the Günstigerprüfung upon request and automatically applies the lower rate. This is especially useful for students, retirees with low income, or in years with low overall earnings.
Tax-free portion: Sparerpauschbetrag (1,000 / 2,000 EUR) Taxable: Total income − Sparerpauschbetrag
KAP = Taxable × 25% (with KiSt base adjustment if applicable) SolZ = KAP × 5.5% KiSt = KAP × 8% or 9% (only for church tax payers)
Total = KAP + SolZ + KiSt
The Abgeltungsteuer is a final withholding tax — meaning investment income generally does not need to be reported on your income tax return (Einkommensteuererklärung), unless the Günstigerprüfung would be beneficial or the bank has made an error.