The Klimabonus (climate bonus) is a part of Austria’s eco-social tax reform, a set of measures to promote climate protection. One such action includes a tax on CO2 emissions, increasing fuel prices and affecting Austrian drivers. The annual Klimabonus aims to offset this expense. 

The concept is that individuals who rely more on public transportation and choose eco-friendly transportation options will have a more significant portion of the bonus remaining at the end of the month.

CO2 tax rising

Last year, Austrian residents received between €110 and €220 via the Klimabonus. The amount depended on the person’s primary residence and the local infrastructure. As explained above, those living in cities with more extensive public transport networks would receive less money, as they had more opportunities to make climate-conscious decisions. 

Now, the federal government said it would determine the amount “in early summer”, though Chancellor Karl Nehammer had already confirmed to Austrian media that the payout would take place for the third time in 2024. 

READ ALSO: What you can do if you still haven’t received Austria’s 2023 Klimabonus

Since the Klimabonus is linked to the CO2 taxes, which have seen a 38 percent increase, there have been calls for the payout to rise accordingly. That would make the payment between €150 and €300. 

Update your bank information

The Klimabonus is paid automatically to all eligible people. If your bank details are up to date with FinanzOnline, they will be wired directly to your account, making the process much easier and faster.

Those whose bank accounts are not stated on the government website still receive the payout as a voucher sent via secure letter. This means you must be at home to sign for it. You will then have to exchange the voucher for cash and, in some cases, might have to wait even weeks to receive the letter—after the government makes the wires.

All you need to do is have your bank details on FinanzOnline to receive your payout sooner. 

Once logged in to the website, you can change your personal information, including bank data, as a private person by clicking the “persönlichen Daten” link on the homepage. You can find that under “Weitere Services – Anträge – Grunddaten”, it is registered as a freelancer or company.

It’s worth pointing out that even though you need an IBAN, your bank account does not necessarily need to be an Austrian account. You can receive the payment straight in your SEPA bank account – including online banks such as N26 and Wise.