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Banks, Taxation and Insurance

Matters relating to banks, taxation and insurance in Austria are complex, but you will be able to deal with them well if you have the right information and adequate support. Find out more about how to open an account, make payments, income tax and social/health insurance, etc. here.

Source: Brian Jackson – Fotolia.com

TU Graz Services

  • As a TU Graz student you are insured by the Austrian Student Union against accidents and damage covered by accident and third-party insurance occurring during your studies.
  • The Welcome Center provides international degree-seeking students with an English information presentation about the Simplified Austrian Income Tax Return (L1) and an English guide to FinanzOnline (the platform of the finance authority). Please contact the Welcome Center for these documents.

What you Need to Know about Banks

  • You can open a student bank account at various banks. Some banks even offer a free student bank account. This will help you deal with transactions.
    TU Graz information leaflet: bank account for students
  • Credit cards are accepted by most larger shops and businesses.  
  • An ATM Card enables you to draw money from a cash dispenser ("Bankomat"); they are marked with a “B” in blue and green.   
  • A cash dispenser card also enables you to conduct contactless payments, i.e. by touching your card against the reader. 
  • There can be fees for closing your bank account.

What you Need to Know about Taxation

Taxation in Austria is rather complicated and subject to frequent change. Find out more on the Federal Ministry of Finance’s website – here you can get all the latest information on income tax, tax assessment, commuter tax relief, international tax law, etc.

You may also wish to request help from a tax advisor.

What you Need to Know about Insurance

  • Social insurance is compulsory for self-employed and employed persons and their families – social insurance comprises health insurance, accident insurance, unemployment benefit and retirement pension insurance. Get an overview of insurance for students at help.gv.at  
  • Incoming exchange students, please see the section preparation.  
  • You will be required to proof of adequate health insurance when you apply for an entry or residence title.

Taxation

Further Information and Advice

  • Tax Office Municipality of Graz – offers assistance if you have any questions about tax assessments or family allowances
    Conrad-von-Hötzendorf-Strasse 14-18
    8010 Graz
    Phone: +43 50 233 233
  • Austrian Chamber of Labour in Styria (Arbeiterkammer Steiermark) – assistance if you have any questions about social insurance law
  • Styrian Regional Health Insurance Fund (Steiermärkische Gebietskrankenkasse)