In view of repeated calls for wealth and inheritance taxes, the Stock Forum, together with the Industrial Association, conducted a study that was submitted to the “Krone”. Two-thirds believe that new taxes would endanger prosperity and competitiveness.
The survey was conducted by Peter Hajek and had a sample of 800 respondents. The results show a clear rejection of new taxes: 64 percent believe that new taxes would endanger prosperity in Austria and 65 percent also see competitiveness being endangered. 82 percent of Austrians believe that no new taxes are needed to finance kindergartens and care, but that existing tax money should be used better and more economically.
74 percent reject a ‘sniffing tax’, where households are randomly checked. 78 percent believe that valuables such as jewelry or savings accounts are not the property of the state. 68 percent consider inheritance tax to be double taxation and reject it. Three quarters of respondents (76 percent) are in favor of lowering the tax rate to below 40 percent by 2030.
The IV emphasises once again that the Austrian tax rate of 43.6 percent is the fourth highest in the EU. The fact that the majority of assets are in domestic companies is often ignored. If the state were to re-levy wealth and death taxes on assets that have already been taxed several times, there would be a risk in the long term that Austrian family businesses would be sold.
The assets to be inherited are the hard-earned money of the post-war generations, which is already taxed at 55 percent. According to the SPÖ model, these savings should be taxed again at a rate of at least 25 percent when it comes to inheritance tax. “Anyone who saves for their children instead of throwing the money away must not be stupid,” says the IV.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
