More than 10 years ago, we started an investment savings account for the offspring at Aktieinvest, which is Sweden's only online broker that offers monthly savings in shares and fractions. The fact that we could buy fractions was the main reason why we chose Aktieinvest as our online broker for Junior's savings. We only managed to save a small amount, 280 US dollars, before we opened an endowment insurance for YMD with Avanza instead.
A combination of negative policy rate and minimal savings has meant that no standard tax has been charged to the investment savings account during all these years. When Sweden's central bank raised the policy rate several times last year, a standard tax arose for his investment savings accounts for the income year 2023.
After I finished his declaration, I logged into Aktieinvest and sold off all his holdings. In a couple of days I will be able to transfer almost $300 to his endowment insurance with Avanza instead.
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