As a student, navigating the tax system can be difficult and the rules on how much you can earn in addition to your student grant can be confusing. However, it is important to keep track of your income to avoid unpleasant surprises and tax penalties. This tax guide will outline the most important rules and information that students should be aware of.
When you receive SU, there are limits to how much money you can earn before it affects your SU rate, or your entitlement to receive SU. This limit is also known as one's tax-free allowance, which is made up of 12 monthly allowances.
The tax-free allowance is calculated on an annual basis from 1 January to 31 December for all the years you receive SU. Your annual allowance is calculated on the basis of the number of months you have received SU, for example if you have opted out of SU, taken leave or have been on a traineeship for a few months.
It is important to make sure that you do not exceed your annual allowance as you will have to repay part or all of your SU back (depending on your income) at the end of the year. If you want to find your individual allowance, you can find it on SU.dk.
It only takes 15 minutes to try TaxHelper and you'll get an average of DKK 2,704 extra back in tax
At the same time, you only pay if you get a tax saving.
If you have other sources of income in addition to your SU, it is a good idea to get an overview of your total income to make sure you stay within your annual allowance and avoid a tax penalty. When calculating your annual income, you should include all the sources of income you have had during the year, which include, for example
Note that you can exceed your monthly allowance in some months and earn less in others, as long as your income does not exceed your annual allowance.
As a rule of thumb, your main source of income should be taxed on your main card, as you will benefit the most from the various deductions and thus pay the least tax on the amount. As a general rule, your SU will be deducted from your main card, as your SU will usually be your main source of income.
If you want to change the card from which your SU is deducted, you can do so on mySU, and if you want to change the tax card for your salary income, you should contact your employer.
In TaxHelper, we help you find the deductions you're entitled to. You answer a few simple questions that take just 15 minutes to complete.
Then we report the deductions, and you get an extra DKK 2,704 back in tax. At the same time, you only pay if you get a tax saving.