How to Send Money from Germany and Get Money back from the German Government as a Tax Benefit

How to Send Money from Germany and Get Money back from the German Government as a Tax Benefit. ❤️ Remitly: ahsanfinance.com/Remitly
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🌍Article with Details: ahsanfinance.com/claim-money-sent-to-parents-from-germany/
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In this video I discuss:
How to Send Money from Germany
How to Send Money from Germany to Pakistan
How to Send Money from Germany to India
Get Money back from the German Government as a Tax Benefit
#ahsanfinance #expatgermany #investingingermany
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Disclaimer: None of the content in this video is meant to be considered as investment advice, as I am not a financial expert and am only sharing my experience with stock investing. The information is based on my own research and is only accurate at the time of posting this video but may not be accurate in the future.

[@ahsanfinance]

❤️ Remitly: ahsanfinance.com/Remitly 🌍 Wise: ahsanfinance.com/Wise 🌍Article with Details: ahsanfinance.com/claim-money-sent-to-parents-from-germany/

[@piyasabasak1292]

Resourceful content!!!. Keep up the good work.

[@ahsanfinance]

Glad you liked the videos 😇

[@ashutoshmishra3846]

Thanks, Can you please make video on wondertax showing how to claim..?

[@ahsanfinance]

This option is not available in Wundertax, however I have covered this using SmartSteuer: kzbin.info/www/bejne/rWPOd2Zum62Xg7s and Elster: kzbin.info/www/bejne/roDSonifZq6nhrM

[@Sillyalways]

Thank you for this video. Any thoughts on how to find the best exchange rates? Also, unfortunately my parents are too young for me to benefit from the tax exemption. Do you know if it is hard to prove they need the money? If you have any insight, I'd be grateful.

[@ahsanfinance]

Only trial and error to find the best exchange rate. Once you signup with 4-5 services you it can take just a minute to figure out which service is providing the best rates. As far as the second thing goes, it depends on the discretion of your case worker in the Finanzamt.

[@tushar534]

Hi Ahsan! Just want to confirm if we make a claim for certain expense, say Laptop or any gadget and if the claim gets rejected, will we be issued any notice and liable for any penal provision or simply that deduction will not be provided?

[@ahsanfinance]

If the claim is reasonable enough but its not tax deductible then the tax office will simply reject it. But if you try to make claims that are not reasonable or outrageous then the tax office might take action.

[@yaseenationxd3122]

“Then worry not” shows you are living in germany 😅, great video

[@ahsanfinance]

😅

[@shaheerarfeen]

Hello Ahsan, - Can I get the maintenance declaration form notarised by a government officer here in Pakistan? - Other than TapTapSend receipts & father’s passport, can you please name the important supporting documents for maintenance declaration?

[@ahsanfinance]

Its better to get it notorized by either the bank manager where the money is being sent, UC officer or Notary. A tax return from Pakistan could also be helpful but not necessary

[@taqihussain4595]

In the video you have mentioned a few conditions that need to be met to file a successful claim. My questions: 1. Do all of the conditions mentioned in the video need to be met in order to file a successful claim ? 2. Are there any downsides to filling a claim if you dont meet some of these conditions? 3. If the parents are under 65 years of age and i am sending them money. Is it still worth filling a tax return? Thankyou so much for making such detailed and easy to understand videos for expats

[@ahsanfinance]

It all depends on your case worker at the Finanzamt. Sometimes they do not consider all the conditions, sometimes they do. Initially you do not have to provide any proof, only if the finanzamt asks for it. If you are unable to provide proof (or satisfactory proof), the finanzamt will simply ignore that expense. So I say you can try your luck and see.

[@yash-wo2ne]

Does our bank ask questions if my friend send money to me from Germany to India

[@sikandarsubhani6893]

Hi, Many thanks for detailed video. I would like to know if 11604 Euros are non taxable or its refunded by the government of Germany. I am asking this because an accountant in my company (native German) once suggested me the same and he told me I will get back the whole amount(11604) . I refused to do so because I thought it would be a problem for Visa or Naturalization as 11604 euro fully refunded means that state is sponsoring or taking care of my family. Looking forward to your guidance.

[@ahsanfinance]

Perhaps the accountant was talking about the Grundfreibetrag which is the tax free part of your salary. This video is about sending money oveerseas from Germany. Where the amount is not fully refundable. The calculations I mentioned in the video would be applied.

[@user-ps6my3vs6c]

Hi Ahsan, Thankyou for making vedio on it. I know it would be tough to answer an individual case but still can i share the my details with you on email address with question will you suggest what should i do? Thanks

[@ahsanfinance]

Perhaps you can comment here

[@SaadOnRoad]

Hi Ahsan, If the parent is retired and above 65 and own a property that exceeds the 15k euro limit (about 10 million pkr), but no source of income other than savings, so do these payments still not qualify for a refund?

[@ahsanfinance]

You can try your luck, maybe some of the expenses get approved

[@Hammadux]

Thank you for the very useful information. I have rather a question to ask, I sent a remittance in year 2022, 2023 to my late mother in her account, for her medical expenses which include her cancer treatment. Her age was not over 65 and she was a housewife with no assets in her name. Can I get something from this situation? also, I have not yet submitted tax return for both years until now.

[@ahsanfinance]

Sorry for your loss. Yes you can claim those expenses. You will need to get the maintenance declaration certificate signed. I am not sure who exactly would be signing that document. Perhaps someone with power of attorney.

[@amerkhokhar638]

bro do we get maintenance amount directly in our account or maintenance amount will only reduce our taxable income just like traveling costs etc?

[@ahsanfinance]

The Maintenance amount is adjusted similar to travel costs.

[@enochadedze6979]

Can I file for this maintenance for previous years (for instance if I send money to my mom from 2022 to date). Can I file for maintenance tax benefit in 2025 for the entire period from (2022 to 2024). Will I get the full benefits for each year if I file in 2025? I have never filed for any tax returns since arriving in Germany. I am asking this as a student

[@ahsanfinance]

Theoretically yes, if you are not obliged to submit a tax return you can submit it up to 4 years later. However there are certain things that you need to be careful about. I have mentioned them here: ahsanfinance.com/how-to-submit-a-tax-return-in-germany/

[@mustahibahmasroon4208]

Can we directly bank transfer the amount to uncle who arranged the block amount ?

[@ahsanfinance]

Do you want to claim a tax benefit for sending this money?

[@shoraimkhan562]

Very informative video. I have sent around the 10k euro in 2023 to my parents but to my brother's account can I claim the tax return in this case and what the process would be.

[@shoraimkhan562]

My parents both are above 70 and they don't have any source of income.

[@ahsanfinance]

Its the same process, I have mentioned it towards the end of the video.

[@jamalashraf7957]

what if someone has started sending money from the month of May 2023 till December 2023? can he still claim all the money he has sent to his parents?

[@ahsanfinance]

Yes, It should be ok

[@TheFirzoknadeem1]

I have already submitted my tax returns for 2022 on taxfix but I didnt include any money that I sent back home. I already got a return for that. Can I now submit a tax return for 2022 again and include this amount or is not possible now?

[@ahsanfinance]

Unfortunately no

[@ahsanfinance]

Unfortunately no

[@ninjanishan]

Thank you very much Ashan. If possible please correct me wether I am wrong or not, I am earning 45K and my parents are living in Sri lanka and they dont have any income or property. I am seding 300 euros per month, which is 3600 Euros per year. It means I can claim upto 1800 Euros? Thanks.

[@ahsanfinance]

Do you send the money to both your parents? Or just one

[@ninjanishan]

Thanks for your reply. As my both Parents dont have access to any bank account. I used to send the money to my brothers (They are living with my parents)@@ahsanfinance

[@dineshpetit]

Hi Ahsan, Thanks for the great work!! I want to declare my grandmother as my maintenance. And I've been sending 750 euros every month for my family to my mother's account (she can't be declared as maintenance due to the assets in her name). Can I get a letter signed by my grandmother that she has been receiving the money in cash from my mother?

[@ahsanfinance]

Hello, yes you can. Make sure to get the letter notorized

[@dineshpetit]

@@ahsanfinance Thank you Ahsan. Really appreciate your response to every comment. it's already like a mini FAQ

[@ahsanfinance]

Glad you find it useful 🙏🏾

[@zafarhakim]

Which is best for sending to UAE?

[@ahsanfinance]

You should register with multiple app to verify which app is offering the best rates at the time you want to send the money. At the time of writing the comment, Wise is offering the best rates.

[@md.rakibulislam9733]

If you are a student and doing a working student job are you eligible for the claim?

[@ahsanfinance]

Yes you can :)

[@owaisibrahim7568]

If we send money via TapTap to Pakistan. Can we claim it on tax return?

[@ahsanfinance]

Yes, make sure that you follow the step i mentioned in the video for maintenance declaration.

[@jackleporteur1432]

So if my Salary is 70k and I'm sending the money to a country where 1/4 is the max ~ 2900/year. So 7% (Burden amount) of 70k is 4900k. Which means I won't claim anything back ? thanks

[@ahsanfinance]

Not exactly, as your tax return documents would be showing other claims, your main taxable income could be reduced and hence a chance of being able to make a claim.

[@jackleporteur1432]

@@ahsanfinance okey but let's say it's reduced to 50k it's till 7% = 3500. So probably not even worth it. Thanks :)

[@ahsanfinance]

At the end of the day it depends on your case officer. Hence its best to list all expenses and see which are accepted and which are not.

[@jackleporteur1432]

@@ahsanfinance ok maybe I will try, since sending money also cost money 😅for every transaction. can you speak about switching to private health insurance. thanks :)

[@ahsanfinance]

I am working on that video :) will try to publish it soon

[@poojakumarijha]

i was wondering if you have compared XE? Transfer via XE to India is quite cost effective.

[@ahsanfinance]

I haven't done it. But as I said in the video, you should register with multiple services and send via the service which is reliable and most effective at that time

[@hirenwaghela1368]

Anyway to claim the edu loan repayment? XD

[@ahsanfinance]

Did you take the loan in Germany?

[@hirenwaghela1368]

@@ahsanfinance nopee..India

[@ahsanfinance]

Then unfortunately no