Austria: introduction of a hiring bonus and a rise in tax-free employee profit sharing

Two billion euros for the Hiring Bonus. In the week of June 19 Austria’s parliamentary economics committee adopted, albeit without the Ecology Party’s support, the creation of the Hiring Bonus that seeks to ‘strongly encourage hiring’. This bonus will enable companies to hire staff and as a result receive 50% relief on their new employees’ social contributions for a period of three years. The federal government has earmarked €2billion to finance this measure over the period 2017-2023.

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