2024 is drawing to a close and a new year will soon begin. As you know, new laws and regulations come into effect every year.
Before 2024, several changes were made to the tax, including reduced tax on work. This meant that the enhanced employment tax deduction was introduced, which resulted in a lower tax for the whole year, compared to before.
In addition, the tax for the country’s pensioners was also reduced. The basic deduction was increased, which gave pensioners with a pension of SEK 25,000 a month as much as SEK 3,400 more per year.
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The interest is reduced on the account
Before 2025, it is now clear that another change is underway that will affect many people’s personal finances. And it comes into force even before the end of the year
The Swedish Tax Agency, which releases information from time to time, has once again informed the public what will apply from 1 December 2024 onwards.
“On December 1, the low cost rate on the tax account will be reduced from 3.75 percent to 2.5 percent. This affects, among other things, those who have been granted tax deferral. The income interest on the tax account is simultaneously reduced to 1.125 percent. The background is that the selling rate on government bills has been lowered. The interest on the tax account is tied to it,” they sign the website.
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Photo: Janerik Henriksson/TT This is how much the interest on the tax account is reduced
The interest rate that covers the tax account is usually determined based on the average selling rate for six-month Treasury bills. The fact that the interest rate is now being lowered for Swedes is because the average sales interest rate has been lowered.
– The reduced interest rate affects, among other things, companies that have a temporary delay in paying taxes and fees, says Magnus Lundberglegal expert at the Swedish Tax Agency.
The last time the interest rate was regulated was 1 July 2024.
But what will it look like in practice? The Tax Agency reports on three interest rates that will be reduced from 1 December 2024.
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They are affected by the interest rate cut on the tax account
Who will be affected by the interest rate cut? Everyone who pays tax in Sweden also has a tax account, where your payments, preliminary tax and final tax are shown according to the control information and the final tax notice.
This means that all Swedes with income, and thereby tax payments, are affected by the authority’s change.
Every day, the interest is calculated on the current balance, if you have any surplus or deficit.
If you want, you can always order the account history from the Swedish Tax Agency’s e-service. However, the account statement is automatically sent to you if:
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