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Old 31.01.2012, 16:08
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Deductions for student loans

Hi all,
I did a search and couldn't find an answer. I live and work in Switzerland but am currently paying off student loans in the US (over $1300 a month, so not peanuts). Is there a way I can get a deduction for this on my Swiss taxes? I was told yes, but nobody seems to know where I can apply for this. Thanks!
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Old 31.01.2012, 16:39
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Re: Deductions for student loans

I don't expect you can, but you should visit your tax office with your documents, and maybe they will find a way. Please change your location to where you now live.
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Old 01.02.2012, 23:26
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Re: Deductions for student loans

You can apply for a "correction of the withholding tax". This will then lead to a partial refund of the tax that had been deducted from your salary.

The application / claim needs to be filed by 31st March latest. Contact the communal or cantonal tax office. They provide a form that you can complete.

See also:

Tax at source refund

Interest paid on any loans are tax deductible.
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Old 05.02.2012, 17:47
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Re: Deductions for student loans

Wish I had known that, I have just finished paying off my UK student loan 2 months ago. Good luck!
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Old 05.02.2012, 19:00
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Re: Deductions for student loans

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Wish I had known that, I have just finished paying off my UK student loan 2 months ago. Good luck!
Actually, the claim for a tax refund can be made for the interest paid on the loan and not for the repayment of the loan itself. So, if you have paid any interest on consumer loans in 2011 (including student loan and credit cards) and if the amount is substantial, you may wish to apply for the correction of the withholding tax.

The claim for a tax refund can also be made, among other, for further education / training costs borne and contributions into pillar 3a in 2011.
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Old 05.02.2012, 19:03
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Re: Deductions for student loans

Guarana, can't see how to 'thank' you (maybe I don't have that function yet, so thanks!
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