I see that T212 German entity will start full automatic tax deduction and management from 5 January 2025 - which was the push I needed to get started on closing down my OG account on the UK entity because thereās no true seamless migration possible still.
So I started moving my assets to IBKR so that I can move them back to the German T212 account but now I see thereās no Portfolio Transfers supported on the German entity!!
What is this? When will we have true feature parity?
When is the Portfolio Transfers feature coming for German clients, any update?
What other features are missing in the German entity, now that Debit Card is there also thankfully?
ETFs have a special Teilfreistellung (partial exemption) in Capital Gains Taxes is Germany, like 15 or 30% depending on the ETF, does the German entityās new tax system take that into account?
Certain ETCs, like Xetra Gold (4GLD) are completely tax free after 1 years, is that also covered properly by the automatic tax system?
Iāll reply using the same numbered points (1-4) to keep things clear:
We donāt have a specific timeframe or any details to share yet, but Iāll keep you posted if I hear anything new.
Each entity has its own specifics, which is why the range of features we offer can differ between entities. There isnāt a single list or document that provides a detailed breakdown.
When it comes to ETFs and Teilfreistellung (partial exemption), these exemptions are applied automatically.
Asset types that are tax-free after a year (which have a different classification than ācapital gainsā) are not covered in the automatic taxation feature. In this case, clients are required to declare these profits or losses themselves. You can check the instrumentās āeligibilityā for automatic taxation by looking for it in the app and scrolling down to āTax informationā.
