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  #41  
Old 05.08.2011, 21:30
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Re: Entry level investment banking salary

Some, but a minority of those 30. One common theme is they are all young, that's why I'm saying maybe companies don't do this anymore?...
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  #42  
Old 06.08.2011, 13:22
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Re: Entry level investment banking salary

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Some, but a minority of those 30. One common theme is they are all young, that's why I'm saying maybe companies don't do this anymore?...
If your on a B permit & taxed a source, it's actually a bad thing as Decembers tax bill is very high, had the same salary been paid in 12 slices the tax deduction is far less.
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Old 06.08.2011, 18:03
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Re: Entry level investment banking salary

Sorry for OT.
Well, unless the 13th month salary is taxed differently, i think that it doesn't matter how many slices is the "cake" that you earn each year. At the end of each year the pie is ever the same. In Italy for some contracts we got also 14th, 15th, etc.
I prefer lesser slices, this means you have more money of your yearly salary, immediately in your hands and you can immediately invest it.
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  #44  
Old 06.08.2011, 18:15
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Re: Entry level investment banking salary

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Sorry for OT.
Well, unless the 13th month salary is taxed differently, i think that it doesn't matter how many slices is the "cake" that you earn each year.
Yes, it is OT, but just to put this to bed: as fatmanfilms explained, salaries paid in 13 instalments result in more tax being paid for the whole year (for Quellensteuer payers). This isn't a problem if you earn more than CHF 120k, as you would then have to submit a tax return and any excess tax paid would be refunded. Many months later, of course. But if you earn less than the magic number, you generally don't have the option of submitting a tax return.

The problem arises because payroll offices are told (via fixed tax tables) which rate of tax to apply to each monthly payment. Tax rates here are progressive -- they increase as income increases, in brackets. So the tax payable on a month's salary of CHF 6,000, for example, may be CHF x, but the tax payable on CHF 12,000 is >CHF 2x. When the 13th 'salary' is paid in the same month as the 12th, the income for that month is double the norm, but the tax payable is more than double the usual amount.

Hope that helps.
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  #45  
Old 18.08.2011, 16:01
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Re: Entry level investment banking salary

Sorry 2 times for bumping in OT, but then, at the end of the year, Federal Finance Division (or whatever is called in Switzerland) doen't make a global annual count (a kind of year balance/summary) of tax i monthly payed at source and doesn't states if i should give more money or, automatically in my next month payes, have back money related to surplus tax payment ?

Why i can't submit a tax return if i'm under 120.000 ?
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  #46  
Old 18.08.2011, 16:06
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Re: Entry level investment banking salary

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Sorry 2 times for bumping in OT, but then, at the end of the year, Federal Finance Division (or whatever is called in Switzerland) doen't make a global annual count (a kind of year balance/summary) of tax i monthly payed at source and doesn't states if i should give more money or, automatically in my next month payes, have back money related to surplus tax payment ?

Why i can't submit a tax return if i'm under 120.000 ?
Why should they bother, they would have to give foreigners some money back.

You can submit a tax return, be aware you will be taxed on world wide income & CH have a wealth tax.
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  #47  
Old 18.08.2011, 19:05
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Re: Entry level investment banking salary

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Why should they bother, they would have to give foreigners some money back.
Are Foreigners son of a lesser god ?

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You can submit a tax return, be aware you will be taxed on world wide income & CH have a wealth tax.
I guess that if i have a world wide income (stocks, bonds, etc ? ) i anyway MUST submit a tax return and declare all kind of surplus added to my employ salary. Is this correct or i'm missing something
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