The government has presented the autumn budget, which will apply from 2025.
The budget consists of SEK 60 billion, which is distributed between different areas, and a lot has been spent on tax cuts. Among other things, the government wants to lower the tax on fuel, abolish the aviation tax and lower the tax for pensioners.
The government also wants to lower the tax on ISK accounts, which could mean more savings for the saver.
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“The first 150,000 kroner…”
Felicia Schoenprivate economist at Avanza, views the government’s decision positively.
– This makes saving in stocks and funds available to everyone, not just to those who are already committed, she has said in a previous interview with News24.
Felicia Schön, private economist at Avanza. Photo: Avanza. Felicia Schön, private economist at Avanza. Photo: Avanza.
Tax is paid on the value in the ISK account annually.
Previously, ISK accounts began to be taxed when they reached a value over SEK 50,000, with the introduction of the government’s autumn budget, ISK accounts will only start to be taxed when they are worth over SEK 150,000.
– From 2025, anyone who wants to start saving in shares or funds can feel secure that the first SEK 150,000 is completely tax-free, says Schön.
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The tax on ISK accounts is reduced – you should keep that in mind
As a small saver, however, there is a lot to think about in connection with the tax cut. Felicia Schön tells us that you shouldn’t wait to start depositing money into ISK accounts.
– Don’t wait to invest to wait for the turn of the year to get it tax-free. Time in the market has historically proven to be what is profitable, she tells Nyheter24.
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“You shouldn’t stop saving”
If you previously did not save via ISK accounts but only in savings accounts, it may be worth keeping one thing in mind, says Schön.
– If you move the money from a savings account to ISK without investing, then there is a risk that the savings interest on ISK is lower than on a regular savings account, she says and continues:
– You should not stop saving and investing even if you were to pass the ceiling of SEK 150,000. The tax is low when the ceiling is reached.
Photo: Henrik Montgomery/TT.
Photo: Henrik Montgomery/TT.
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Save for children or grandchildren – that applies
If you plan to open an ISK account for your child or grandchild, different rules apply. If the account is in the child’s name, whoever deposits money cannot withdraw it at any time.
– Since the tax exemption applies per person, you can “tax plan” within a family by transferring savings in the children’s names. What you should bear in mind then is that a savings account opened in a child’s name cannot be “taken back” but belongs to the child. In addition, the child will have access to the money on their 18th birthday, regardless of whether the child is ready for the money or not. Therefore, it may still be good to continue saving for the child in capital insurance in your own name and instead make the child the beneficiary, even if it means some tax, says Schön to Nyheter24.