View Single Post
Old 29.12.2019, 16:50
Slayer Slayer is offline
Join Date: Sep 2012
Location: Zurich
Posts: 110
Groaned at 4 Times in 2 Posts
Thanked 15 Times in 15 Posts
Slayer has no particular reputation at present
Re: How to declare UK apartments on Swiss tax return

I thought about creating a new post for this, but it seems pertinent to my original questions...

We have 2 apartments, one rented, one not (was planning to rent, but other factors came into play)

So, for the rented apartment, the feedback from the Thalwil/Zurich tax authorities was to use a valuation based on a formula from the rental value:
(((monthly rent * 12)/7.05)*100).

For the second unrented apartment, I used an estate agent rental valuation to get an estimated value, and from that used their formula to calculate imputed rent:
Imputed rental value = (estimated value * 70%)*4.25%
This includes a discount (which I assume varies canton by canton).

The authorities don't seem to complain about this. However, I am still unclear on this original question:

Sidenote: this should not be not declared in "Assets and home and abroad" section ("Auf steuerbare Vermögenswerte im Ausland", box 496 on page 4 of Zurich tax form), right? As I read in other posts that immovable assets like apartments are not taxed, but the value is used to calculate overall this correct? If I leave it in there, I end up with a negative overall value for "Steuerbares Vermögen im Kanton Zurich", which always strikes me as odd.

Does anyone know about this?

Additionally, this page:
...implies changes to the imputed rent rules. I am wondering how this affects my two properties abroad, specifically the unrented one. If I am renting a property to live in, in CH, and have a unrented property abroad, is that technically my "primary residence" from the concept of ownership - even if I do not reside there? If not, and it is considered a "secondary residence", then there is no change to the imputed rent?

Reply With Quote