Higher income limit for tax-free allowance since 2020

As of January 1, 2020, the basic tax-free allowance for single persons increases by 240 euros to 9,408 euros (for married couples to 18,816 euros), after it was 9,168 euros in 2019. Only those who earn more money a year than that amount have to pay taxes on their earnings. You do not have to pay income tax up to this income limit. For more information: www.kundenerzentrale.de/wissen/geld-versicherungen/sparen-und-anhaben/steuererklaerung-wer-sie-wann-beim-finanzamt-abhaben-muss-24899
(ft)

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