Please note that the following answer only applies to clients residing in Germany.
Through the so-called partial exemption, a certain percentage of the payment stream remains tax-free at the investor level.
The following partial exemptions apply to investing private individuals:
- 15% for mixed funds
- 30% for equity funds
- 60% for real estate funds
- 80% for real estate funds with predominantly foreign real estate
The partial exemption applies not only to distributions, but also to capital gains/losses and the preliminary lump-sum tax. The type of fund can be found in the key investor information and on the second page of the relevant securities settlement.