If the date of death of the deceased is after 31 July 2008, no inheritance tax is levied in Austria under the current legal situation. However, in the case of links to foreign countries (e.g. German heirs or a residence or habitual abode of the deceased in Germany), a foreign inheritance tax (in the example the German inheritance tax) may very well apply. Inheritance tax will continue to be governed by the tax laws of the individual Member States and remains unaffected by the European Inheritance Regulation (EU ErbVO). With a choice of law (Art 22 EU Inheritance Regulation), only the law of succession of the last habitual residence applicable according to the European Inheritance Regulation (EU Inheritance Regulation) can be avoided, but not inheritance tax.
Currently, no gift tax is levied in Austria. Here too, however, foreign connecting factors (such as foreign residence) may lead to a different assessment.
The gratuitous transfer of domestic real estate (also by reason of death) is subject to real estate transfer tax. Insofar as assets are transferred to foundations under private law or to comparable asset pools, a foundation input tax may be incurred.
In the context of an inter vivos transfer, the incurrence of any inheritance tax that may be introduced in the future can already be avoided now and/or the incurrence of real estate transfer tax can be optimised within the legally permissible scope. For transfers within the family, there are also reduced fees under the Court Fees Act.