Using the Estonian investment account (investeerimiskonto) system, a private person can defer their income tax liability arising from income from financial assets until such income is used for other purposes.
Grünfin is compatible with the investment account system. This means you are able to invest in Grünfin via deposits from your investment account and defer tax liability until income from these investments is used for other purposes than investing – similar to other investment products.
Using your investment account, you can choose to reinvest your profits from Grünfin without becoming liable for income tax.
We recommend to consult with local tax experts or tax office for advice on how to declare investment transactions and calculate income tax.
We at Grünfin do not provide tax advice, however we have complied a short overview of our remarks on how to declare your Grünfin portfolio if you are an Estonian resident.
If you have made contributions to your Grünfin portfolio from your bank account that you have declared as investment account (investeerimiskonto)
you should make sure that all transactions to your Grünfin portfolio are marked correctly when sending information to the tax declaration from the bank.
🌱 If your Grünfin portfolio has fees, you should declare each fee as an outpayment according to the date of the transaction. You can find relevant information in your portfolio Details view, "Payments" tab.
The rest of the transactions to your Grünfin portfolio are not declared, as these are related to purchase of financial assets.
🌱 If you have received gifts or bonuses to your portfolio, you can add them as investment account contributions (see TuMS § 17² (8)).
All third party payments to your portfolio (eg gifts from friends, giftcards, Grünfin bonuses) may be declared in the income tax return as investment account contributions, according to the date of the transaction.
All information regarding portfolio payments and fees is available on your Grünfin account, in portfolio details view.
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