I am a resident german and a novice to investing. I want to start investing in mutual funds. However, as i lack german language proficiency, i am unable to understand all the "financial terminology". Also, before starting investment, i want to have some basic information. So can someone be kind and answer the following queries?
1) What will be the steps from having money in my account to starting SIP (systematic investment plan)?
2) What things i need to look out for, specially if i invest in funds in germaany? (e.g. fees, duration. etc.)
3) Will my SIP investment affect my tax liability? if yes then why?
4) I earn a salary from an employer, so my tax declarations are very straight forward. How will my investment change my tax liability?
5) Which are reliable sources for information in english about funds in germany?
I have a question regarding German taxes and mutual funds.
Before I moved to Germany I made yearly contirbutions to a Canadian mutual fund. All contributions were made before moving to Germany.
After having moved to Germany in 2017, I withdrew from these mutual funds early (2018) to pay off some outstanding debt I had in Canada.
I am currently employed in Germany and am a taxpayer here, and have no other income in Canada. My wife is German and I am living here under a marriage or family visa.
I wondering what the tax implications of the mutual fund withdrawal are for this year's tax return?
Just thought I would ask here as I can't really afford the international tax consultants!
Thanks in advance!