The sale of every capital asset has to be executed in a well thought-out manner and in a way, that brings about optimum benefits to the seller as well as to the buyer. This is important due to the numerous possibilities and their attendant different legal and fiscal consequences that have to be considered for such sales. One of these possibilities is the sale for life annuity. The main issue of this diploma thesis is the tax treatment of such annuities. The intention is to consider the taxation of life annuity in the Austrian income tax law and die Austrian value added tax law and furthermore to answer the following question: Are the evaluation standards which are significant for the income tax law, also applicable for the VAT law? The capitalised value of the annuity, according to §§ 15 ff BewG is the significant evaluation standard in the income tax law. In the area of VAT law the calculation basis is an often discussed issue. The prevailing view in accordance with the decisions of the administrative court, is that the capital value (§§ 15 ff BewG) is also the significant value in VAT law. This notwithstanding, there are differing views when this value undergoes a subsequent change. The position of both the administrative court and part of the established teaching is that such changes cannot bring forth the implementation of § 16 UStG. On the contrary, another school of thought approve of the implementation of § 16 (3) BewG. All the above solutions, under the cause of justice criteria, are to an extent dissatisfactory and arguably require other measurements. But they form part of the ?Glücksverträge? and therefore, with reference to the value added tax returns, it is perhaps also necessary to accept a certain degree of risk.