Austria Consulting on Incentives for Working Past Retirement Age

The Austrian Ministry of Finance has published a draft bill for consultation that would introduce incentives for individuals who continue employment or self-employment after reaching the standard retirement age. This includes a taxable income reduction through an activity tax allowance equal to EUR 1,250 per month (EUR 15,000 per year), as well as an exemption from employee pension insurance contributions, or a contribution reduction in the case of self-employed individuals. As proposed, the…