Vorabpauschale calculator Germany

What will the Vorabpauschale take from your fund in January?

Every January a German broker takes money out of the account of somebody who sold nothing. It is capped twice, cancelled by distributions and often absorbed entirely by the yearly allowance – and in two recent years it was zero for everybody.As of 6 September 2026 · 2026 basis interest and tax rules

Your fund, over one year

Both values are the fund position, not the amount you paid in. Your broker's year-end statement has them.

Value on the first trading day€The charge is computed from this and nothing else. Example: a fund worth 80,000 on 2 January is charged from 80,000, whatever it does afterwards. Value on the last trading day€The year's gain caps the charge. Example: a flat or falling year owes nothing at all, however high the Basiszins was. Bought in month1 if it was held on the first trading day. For a holding bought during the year the charge falls by a twelfth for each full month before the month of purchase: bought in March, it owes ten twelfths. Enter its value at the January price above. Distributions during the year€They come off the charge one for one. Example: a distributing fund that paid out more than the notional return owes no Vorabpauschale at all. YearThe Basiszins is set each January and has been anywhere from below zero to over three percent. Example: 2021 and 2022 charged nothing, for anybody.

A savings plan into the same fund

Each month€Each instalment is charged on its own twelfths: one in March carries ten, one in December one. From month Price change over the year%Read from the two values above when there is a holding; needed when the plan is all there is.

The fund, and what is left of your allowance

Fund typeDecides the Teilfreistellung. Example: a world equity ETF holds over 51 percent equities and so exempts 30 percent of the charge. Tax-free allowance€The Sparerpauschbetrag: 1,000 per person, 2,000 for a jointly assessed couple. Allowance 2027 already used on its first working day€The charge is deemed received on the first working day of the following year, so it uses that year's allowance, which is almost always untouched then: leave it at nought unless another fund's charge falls on the same day. A Freistellungsauftrag is split between banks. Tax on investment income%The standard rate including the surcharge. Example: church members pay a little more again, which this does not model.

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What this answers

Why money left your account for a fund you did not sell

An accumulating fund reinvests instead of paying out, and without this charge it could defer tax indefinitely. So the law taxes a notional minimum return each year – capped at what the fund actually made, and reduced by anything it did pay out.

Easy to miss

It is usually smaller than people fear

The Sparerpauschbetrag absorbs the charge on a fairly large holding, and the charge itself is capped twice. For most private investors with one ETF, the answer for several years running has been nothing.

What it does not answer

Whether your broker got it right

Brokers compute this per fund and per lot, with part-year holdings scaled by month, as this does for one holding and one savings plan. Several purchases on different dates, or a fund whose price did not move evenly through the year, can give a slightly different figure.