✏️ Exciting News: Our website is getting a fresh new look - stay tuned! 💻

Book now

How much do I really earn?

What Dr. Dr. Money says
Netto and brutto. Net and gross symbol. Words on wooden blocks change net to gross. Financial concept, Beautiful yellow background, copy space
Gross is not the same as net

Your first job!

From now on you’ll earn your own money. But wait: Your boss said your salary is 2,000 euros per month.
But the bank statement says that you only received € 1.622,66. How can that be?

Gross is not the same as net

When you are in regular employment, the payroll accounting department subtracts income tax and social insurance contributions from your gross income. These amounts are withheld, and only the remaining net amount is credited to your account. This is your net income.
Gross
This is you income before tax and social insurance are subtracted.
Net
Your income after subtraction of tax and social insurance.
Tip
Use a Gross-Net Calculator to determine what your net salary should be with Brutto Netto Rechner or Finanzrechner.

It always pays to apply for a tax refund

You can get back some of the tax that has been withheld by your employer and paid over to the tax authorities. To do that, you have to submit a tax refund claim (Arbeitnehmerveranlagung) to the tax office. You can do it at the end of each year, and you can even reclaim tax paid up to five years back. You don’t even have to go to the tax office. You can submit the tax refund claim online at finanzonline.at.

Information about how this works and what you can claim is available on the Labour Chamber website (AK-Portal Arbeitnehmerveranlagung).

As a freelance contractor, you have to submit tax returns and pay your taxes yourself

Attention!
Consider this carefully: If you take on a freelance job under a works contract or a service contract (Werkvertrag or freier Dienstvertrag), you are considered self-employed by the tax office and have to do the paperwork and pay any tax yourself. Your customer, i.e. the contracting organisation, will credit the entire gross sum to your account. Never forget to put aside a share that is big enough – with a safety margin – to cover tax and other required payments.

Information and financial support

  • Apprenticeship remuneration, is your income during an apprenticeship; it changes from year to year.
  • Student grants are paid out to students in need of financial support provided they are making sufficient academic progress (www.studieren.at) (www.studieren.at)
  • Family allowance is paid per child, managed by the competent tax office for the parent's area of residence; students are covered up to 24 or 25 years of age provided they make sufficient academic progress (www.bmf.gv.at)
  • Freelance employment, contract work and self-employed work; income tax is not withheld by the contracting organisation, but paid out – contractors have to pay their income tax themselves.
  • Summer jobs and internships are regular employment contracts; you have social security cover and receive a net salary. Don’t forget to apply for a tax refund at the end of the year.
  • When you take on jobs as a student, always know what kind of contractual relationship you are entering, and be aware that you may be liable to repay student grants and family allowance if your income from paid work exceeds a certain limit..
How much do I really earn?

What Dr. Dr. Money says

You are currently viewing a placeholder content from YouTube. To access the actual content, click the button below. Please note that doing so will share data with third-party providers.

More Information
Unblock content Accept required service and unblock content

Subscribe to our newsletter*!

Stay up to date with our newsletter –
subscribe for new tour dates and important updates.
*only available in German
Register now

More about Ausbildung & Beruf

Foreign currency loan
Banken & Wirtschaft, Schulden

Foreign currency loan

A foreign currency loan is actually a speculative deal. The borrower hopes for interest and exchange rate advantages. But that is a risky bet.
Read now
How should I use my savings
Geld & Glück

How should I use my savings

Many young people already earn money regularly. However, this can raise the question: What do I do with my money anyway?
Read now
Account costs
Konto & Zahlung

Account costs

It’s easy to get a free account during your apprenticeship. Nevertheless, you have to be careful that you don’t end up having to pay for your account.
Read now
What does a bank do?
Banken & Wirtschaft

What does a bank do?

Money is saved, invested and spent. Banks occupy the central position in the money cycle.
Read now
What is Bitcoin?
Banken & Wirtschaft

What is Bitcoin?

Bitcoin: huge hype, almost everyone knows the name. But what exactly is virtual money and what functions does it perform?
Read now
How much do I really earn?
Ausbildung & Beruf

How much do I really earn?

Gross is not the same as net
Read now
Which insurance do i need?
Veranlagung & Vorsorge

Which insurance do i need?

If you have suffered damage, you should not be forced to bear the cost on top of it. This is what insurance companies are there for. However, you should check closely which insurance you’ll actually need.
Read now
Who sets prices?
Alles ums Geld

Who sets prices?

Why do things cost what they cost? Many articles are getting more expensive, but some may become cheaper too. Why is that so?
Read now

FLiP News abonnieren

Updates zu Ausstellung, Programm & Events

Subscribe to FLiP News

Updates on exhibition, program & events