Please note that the following answer only applies to clients residing in Germany.‌

In Scalable Wealth, you can profit from our automated tax optimisation. Our tax optimisation takes into account the tax exemption order (Freistellungsauftrag) of up to €1,000 per year.

A child can have up to €13,384 tax free income* per year, which consists of three components:

  1. €1,000 saver’s tax allowance: This can be activated by instructing a tax exemption order (Freistellungsauftrag) directly in the Scalable app. To do this select the account you want to manage under Profile > Tax exemption order in the app and Profile > Taxes > Tax exemption order in Web.

  2. €12,348 basic tax allowance: This can be achieved by submitting a non-assessment certificate (NV-Bescheinigung). Once you have received your non-assessment certificate from your tax office, please send a copy of the document to:

    Scalable Capital Bank GmbH
    Seitzstraße 8e
    80538 Munich 
    Germany    ‌
  3. €36 special expense tax allowance
Tax benefits mentioned only apply to Kids’ accounts in Germany.

If a tax exemption order (Freistellungsauftrag) has been submitted, the custodian bank will not withhold the otherwise due capital gains tax on capital gains until the maximum of €1,000 has been reached. When a non-assessment certificate (NV-Bescheinigung) is filed, no taxes will be withheld.

* Scalable Capital does not provide tax advice. Tax treatment is individual and can change. Assumption: €1,000 saver’s tax allowance, €12,348 basic tax allowance and €36 special expense tax allowance, capital gains tax: 25%, solidarity surcharge: 5.5%, church tax: 9%.