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Banks, Taxation and Insurance − for Employees

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.

TU Graz Services

  • Special terms at banks in Graz
  • Lower premiums for car insurance in the frame of a co-operation partner contract
  • One-day comprehensive insurance policies for privately owned cars used for work-related travel
  • More favourable terms for private pension schemes in the frame of a contract with various insurance companies
  • Additional insurance at more favourable rates offered by various insurance companies  

The Welcome Center provides international staff members 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 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.

Euraxess Austria gives an overview about taxation and salaries.

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

What you Need to Know about Banks

  • You can open a current account at various banks. This will help you deal with transactions.
  • Credit cards are accepted by most larger shops and businesses.  
  • A cash dispenser 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 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  
  • You will be required to proof of adequate health insurance when you apply for an entry or residence title.

Further Information and Advice