The Budget Accompanying Act 2011 has completely remodeled the taxation of capital income. Nowadays, besides interest and dividends, exchange gains and derivative income are also subject to taxation. In the event of Austria’s losing the right to tax exchange gains from capital or derivative income, respectively, an exit tax according to sec. 27 para. 6 lit. a Income Tax Act is applied. At the time of exit, interest of debt instruments is accumulated and taxed upon accrual of exchange gains. However, Ernst Marschner shows that, even according to domestic Austrian tax law, this somewhat controversial form of taxation quite frequently does not apply to debt instruments with an ongoing yield.