2023-08-13 18:09:00
These are “most affected by inflation,” Landau wrote on the “X” platform (formerly Twitter). “Those responsible in the republic should use at least the remaining third socially and creatively.”
WIFO boss Gabriel Felbermayr had previously said that the cold progression might also be “compensated evenly across all tax levels”, “this is not an instrument of redistribution”. The Chamber of Labor and the Federation of Trade Unions had demanded on Saturday that the variable third of the funds be used to relieve families and lower incomes.
The “cold progression” as a gradual tax increase in the area of wage and income tax was abolished in 2023. Now the tax brackets are adjusted every year to reflect inflation – but only by two-thirds. What the government does with the remaining additional revenue is up to it. Finance Minister Magnus Brunner (ÖVP) wants to present a solution with the Greens by autumn on how the variable third will be distributed.
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Cold Progression: What the Off Brings to the Taxpayer
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Taxes – the end of the cold progression costs 3.5 billion euros
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