How to Pay ONLY 17% in Taxes in Denmark - Aktiesparekonto
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- เผยแพร่เมื่อ 18 ต.ค. 2024
- How you can pay less taxes on your investments in Denmark - legally! - using Aktiesparekonto.
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In these accounts your investments are taxed at just 17%. You can use these accounts to buy stocks, ETFs, and other financial instruments.
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If we haven’t met before - Hey 👋 I’m Mario. I help people living in Denmark to achieve financial independence and live a great life. Aside from YouTubing I'm a manager in a big company, I wrote two books and have traveled to 140+ different countries.
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I dont like the idea of paying annual tax to skat just because the stock went up in value because then if i still hold it and it goess down, nobody gives me my tax back :))
100% agree. I strongly dislike this annual tax regardless of whether you sell or not. But remember that if the stock goes down (and you realize losses -- I don't know how it works within the ASKs - I'll need to check) you get a tax break as well.
Did you find out more on the tax break from losses?
For example if I invest 1000dkk and lose 10% in the first year (900dkk) then it goes up to 1000dkk again. Do I have to pay thr 17% on the 100dkk I gained? Meaning I'm below my initial investment?
Another question is what happens if I max out my ASK with 135000dkk and it goes up for example to 150000dkk and I would like to sell those stocks/funds and invest in new ones, do I still get to reuse the 150000dkk or once I sell I'm force to take them out of the account until Im back in 1350000dkk?
Thanks a lot for your videos
Hi Mario, Thanks for the video. I made an aktiesparekonto account in Nordnet recently. I think you should also make a video on how to use the account and fees currency conversion charge etc for foreign trade.
There is no video about that in english yet :)
Thanks for the suggestion! I have not studied that yet as I don't use Nordnet for buying foreign stocks, etc. But eventually will look into it! Thanks for watching!
Hey Mario, thank you for all these videos. Keep it up, I'm learning so much!
Glad you enjoy the videos! Do share with your friends if you can - helps the channel grow!
Hey Mario, your videos are always super helpful, thank you! Quick question I haven't been able to find the answer to: is the limit set by Skat how much we can deposit PER YEAR or is it in fact, the amount of capital we're allowed to invest in total?
Total amount you can deposit, if you go over it you can't deposit more
@@MarioScianHQ thanks Mario!
Been 2 years in DK (Aarhus), never invested. I am 36, with a 3 yr old and a wife who’s also earning, so we are saving one salary since 1 year. Almost 200k in savings. Where do I start? Can you make a video around the process? Plus we have that in Danske bank and Inheard from my colleagues recently about Bank Fees that Danske charges…it’s apparently a lot, and there are some better options out there, do you have any video related to that?
My investment course covers all this, great savings to start!
Hi Mario, Is it allowed to do "front loading" of the Aktiesparekonto? I depositing the maximum amount allowed per year, let's say 135.900 kr. (2024) on January 1st of 2024, or has to be distributed throughout the year? Thanks!
You can frontload it
Hola Mario. Hay algun curso para aprender sobre taxes/skat y poder manejarlo mejor? Gracias 😊
Check my curso via email (gratis) que es sobre esto
Hello Mario, thanks for all the info you post. I have a big doubt: why would you open an "investment account" in denmark when you can open an online bank account like Revolut were you are free of tax.
And before the misundertanding comes, I have a normal account in Dk and pay my taxes as usual, no claims on that. Just the idea of paying 17% of tax in a risky (and no so friendly) stocks market seem too much for me, given the fact if you earn something at all. Regards.
You're not free of tax in Revolut, it's just not automatically handled as in Nordnet and Saxo. If you don't pay taxes on gains in Revolut you're breaking the law and if SKAT finds out you'll be in serious trouble 😀
@@MarioScianHQ Good to know. Thanks Mario!!
Hi Mario, I do not understand how this new type of account can bring you more money than a usual account? If you buy and do not sell in a normal account for 10-20 years, you do not pay any tax and effectively reinvest your gains.
Agree. (Maybe) there's a point far into the future where the fact that you don't need to pay taxes until you sell will compound to more money than just paying 17% every year. I bet that some people have posted articles online with calculations :)
@@MarioScianHQ Another question about aktiesparekonto. Let's say, our portfolio grows from 10k to 11k in 2020. So we pay 17% from 1k. In 2021, it drops from 11k to 9k. We pay no tax. In 2022, it grows from 9k to 10k. Do we have to pay any tax or not now?
@@Vitar1988 you do
@@justafish5559 This makes no sense. You've added yourself 10k in your account, why would you pay taxes on something that's actually not profit? Your initial account value was 10k, your new account value is 10k, meaning, 0 profits.
@@Bughy195 taxes are done yearly.. this is a comment to his comment to mario scian
Thanks for the content as I will be moving to CPH in a few months so this is all fantastic. You mentioned you are taxed on certain stocks if they increase in value. However, what effects occur if your portfolio decreases in value? Do subsequent rises and falls result in stocks being taxed more than once over discrete tax years?
Thanks! No, you won't get taxed twice - if it falls, the baseline remains the price you invested in
@@MarioScianHQ thanks for the input. Keep up the hard work. It is very valuable 😃
Hi Mario,
thank you so much for this interesting video.
I would like to know if it is possible to have both Aktiesparekonto and Månesdsopsparing with Nordnet?
Am I able to buy only stocks from Europe, Us and UK?
Thank you!
You can't do MO in the Akt account itself, but you can have a "normal" account where you do MO
Hola Mario gracias por el contenido que brindas. Consulta, Estoy próximo a viajar a Dinamarca 🇩🇰 si llevo un capital de +20K (USD) hay que pagar impuestos si los deposito en banco?
No
Hlw mario i have a revolut account..can i use this account in denmark and can i pay danish tax with this account or not
There’s no Aktiesparekonto with Revolut
Hey Mario, any news on when Nordnet is gonna get Aktiesparekonto up and running?
Nope 😐 They said in 2021, but they're running out of time. At least they didn't postpone officially yet.
Good video
Can you also discuss about insurance when you buy an apartment ? There are terms indbo , ansvar and ulykke for insurance.
Sure, eventually I want to go through all the relevant points to home buying
Hello namaste plz sijanal visa method and companies vedious sent ok thanks
Just a quick question Mario. You get taxed 17% every year on the unrealized profit of your portfolio? Doesn't that accumulate over time and is a pain in the ass? I understand paying taxes once you realize gains by selling your holdings but paying every year? I don't understand!
Yes it sucks but on the normal account with ETFs etc you’ll get taxed on unrealized gains one way or the other but at 27%-42%. Denmark is NOT investor friendly
Any losses can either be offset against the gains for the year or set off against gains in later years.
The only real "loss" is in the compounding if you are super successful after 15/20 years your return would go parabolic and even if paying 42% taxes would be advantageous. However for normal investors is advantages as losses can be offset.
Hey Mario, is there an advantage of opening an Aktiesparekonto with Nordnet VS opening it with your bank?
Banks normally have higher buy/sell fees and less options than dedicated brokers like Nordnet and Saxo.
I see@@MarioScianHQ. Thanks for replying! :)
Hi Mario, what is your thoughts on the pension scheme 53a? I know that you cannot specifically choose where do you invest and what to buy but on paper to me looks like a great way to avoid heavy taxations but maybe I am missing something. Would you share your thoughts about this? Great work btw I am learning so much from you!!
Hey Simone - Thanks! I had not heard about that scheme before. From what I can see it's a deal so expats get paid the pension directly (and taxed) vs. having it locked out until retirement? I guess that if you plan to stay in DK for only a few years it's a good idea
Hey Mario, thanks for the reply! Yes you are basically right...The amount you transfer there count as income hence it increase your taxable income. Later on when you withdraw the money you will pay 0 taxes. However the pension company charges you between 1800-2000kr as fee for withdrawing before retirement age. But if you are planning to keep the money there for a long time it’s not a big deal and maybe it’s better than paying capital gain tax.
The drawback in my opinion is that you can’t choose in what to invest but only the risk profile..
Interesting to know! Thanks for sharing
@@itsyourfavoritemustache Have you been adding extra money to your pension scheme over time?
What about if your investment went down, like - 2%,for example? In that case you don't pay taxes, right?
No you don’t, and you’ll only pay taxes once it goes higher than the price you bought
Is the limit increases every year, additionwise? I mean in one year we have 102300 DKK and then the next year it will become 204600 DKK? Thanks great content! :)
Thanks! No -- The limit raises slightly e.g. it's 103.500 kr. in 2022. But if you'd more than that you can't add more money.
Is there any limit for how long your money must remain in the account? Can you take it out for any reason and at any time interval? (e.g., as a downpayment on a house, if you're leaving the country, or to pay taxes owed!)
You can always take money in/out, but you will need to pay the appropriate taxes on capital gains
Denmark should really re-evaluate this account scheme and align it with its equivalents in other nordic countries, at least to the Finnish model, even if it means increasing the tax to the 30% region instead of 17%. It is really stupid that you are taxed on unrealised gains and the very low limit of 100k DKK. Investing should be incentivised as much as possible.
I wish that yes
Hi Mario, thank you for your contents! Do you know if investing US stocks in Aktes account is also 17%? Or it will be 38-43%ish
Thank you for your answer.
Everything in the Aktiesparkonto is 17%