Please note that the following answer only applies to clients residing in Germany.
Yes, your registered tax exemption order applies to all your Scalable accounts. This means that both the interest income from your Overnight account and dividends or capital gains from your securities investments (stocks, ETFs, etc.) are offset against the same tax-free allowance.
Taxation will only occur if your total capital gains with us exceed the tax-free allowance you have chosen in the calendar year.
Good to know:
- Automatic Consideration: You do not have to do anything else. A tax exemption order set up once covers all income within your Scalable account – including the interest on your Overnight account.
- Loss Offset: Before your tax-free allowance is used, your interest income is primarily offset against any losses from other sales (e.g., ETFs or bonds). This way, your tax exemption order remains available longer, and your tax burden is kept as low as possible.
- Joint Assessment: If you are jointly assessed with your partner, you can register a joint tax-free allowance of up to €2,000 to benefit even more comprehensively from the tax exemption.