Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation
Reply
 
Thread Tools Display Modes
  #141  
Old 06.12.2015, 06:41
Member
 
Join Date: Sep 2012
Location: Zurich
Posts: 103
Groaned at 4 Times in 2 Posts
Thanked 13 Times in 13 Posts
Slayer has no particular reputation at present
Re: How to do your tax return Kt ZH

Hi,
quick question, is the DA-1 form just for US dividends, or worldwide? I have UK shares and a couple of ISAs and not sure how to declare them in the tax return.

cheers,
Slayer
Reply With Quote
  #142  
Old 06.12.2015, 09:12
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 14,666
Groaned at 215 Times in 187 Posts
Thanked 11,984 Times in 6,758 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: How to do your tax return Kt ZH

Quote:
View Post
Hi,
quick question, is the DA-1 form just for US dividends, or worldwide? I have UK shares and a couple of ISAs and not sure how to declare them in the tax return.

cheers,
Slayer
Worldwide, you generally get a cash refund within 6 weeks.
Just put details of any foreign income producing investments on that page, non foreign income producing assets on the other page, not that it will really matter.
Reply With Quote
This user would like to thank fatmanfilms for this useful post:
  #143  
Old 07.12.2015, 06:31
Member
 
Join Date: Sep 2012
Location: Zurich
Posts: 103
Groaned at 4 Times in 2 Posts
Thanked 13 Times in 13 Posts
Slayer has no particular reputation at present
Re: How to do your tax return Kt ZH

Hi, for the ZH tax return, Section 36.2 box 496: "Auf Steuerbare Vermögenswerte im Ausland" - does this include foreign property? Google translate probably mangling this as "On Controllable assets abroad". Does it mean movable assets?

Because even if I use a moderate valuation of property, I end up with a negative figure in the following box (Section 37, box 498: "Total assets in the canton of Zurich")! As my UK property is worth more than my Swiss assets (sadly).

cheers,
Slayer

edit: shouldn't be sad about that I suppose :-)
Reply With Quote
  #144  
Old 07.12.2015, 09:53
aSwissInTheUS's Avatar
Forum Legend
 
Join Date: Nov 2007
Location: Zurich area
Posts: 6,247
Groaned at 51 Times in 48 Posts
Thanked 9,121 Times in 4,056 Posts
aSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond repute
Re: How to do your tax return Kt ZH

In this contex Steuerbar == Taxable.
Reply With Quote
  #145  
Old 07.12.2015, 10:49
Member
 
Join Date: Sep 2012
Location: Zurich
Posts: 103
Groaned at 4 Times in 2 Posts
Thanked 13 Times in 13 Posts
Slayer has no particular reputation at present
Re: How to do your tax return Kt ZH

I see...and the UK Property itself is not a taxable asset, the value is just used to only calculate my wealth, right?

I think I am beginning to get it, it is just putting all the facts together :-)

(Note to self: do not attempt tax return after 2am in the morning)
Reply With Quote
  #146  
Old 07.12.2015, 11:15
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 14,666
Groaned at 215 Times in 187 Posts
Thanked 11,984 Times in 6,758 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: How to do your tax return Kt ZH

Quote:
View Post
I see...and the UK Property itself is not a taxable asset, the value is just used to only calculate my wealth, right?

I think I am beginning to get it, it is just putting all the facts together :-)

(Note to self: do not attempt tax return after 2am in the morning)
The value you place on your UK home should be 'forced sale value', which is at least 30% less than you would see in an estate agents window.
Reply With Quote
The following 2 users would like to thank fatmanfilms for this useful post:
  #147  
Old 08.12.2015, 03:40
Member
 
Join Date: Sep 2012
Location: Zurich
Posts: 103
Groaned at 4 Times in 2 Posts
Thanked 13 Times in 13 Posts
Slayer has no particular reputation at present
Re: How to do your tax return Kt ZH

will keep that in mind for next year's. if they let me change it then!
Reply With Quote
  #148  
Old 02.11.2016, 15:44
Newbie 1st class
 
Join Date: Nov 2011
Location: Zurich
Posts: 22
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
alanzed has no particular reputation at present
Re: How to do your tax return Kt ZH

Hello everyone.

first thing first, thanks Richard for putting together all these info: truly a gem!

second, apologies for bringing up a relatively old topic.

my question: last year I was with the quellensteuer regime for half of the year, hence I got some taxes paid at the source by my employeer. This reflects in the Lohnausweis, however I cannot seem to find any place where I can "deduct" these already paid taxes in the tax declaration. Hence I went and assumed that they will somehow compute themselves the taxes already paid by my employeer, and/or get the info from the Lohnausweis that I will attach.

Am I right?

Thanks a lot.
Ale
Reply With Quote
  #149  
Old 02.11.2016, 16:37
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 14,666
Groaned at 215 Times in 187 Posts
Thanked 11,984 Times in 6,758 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: How to do your tax return Kt ZH

Quote:
View Post
Hello everyone.

first thing first, thanks Richard for putting together all these info: truly a gem!

second, apologies for bringing up a relatively old topic.

my question: last year I was with the quellensteuer regime for half of the year, hence I got some taxes paid at the source by my employeer. This reflects in the Lohnausweis, however I cannot seem to find any place where I can "deduct" these already paid taxes in the tax declaration. Hence I went and assumed that they will somehow compute themselves the taxes already paid by my employeer, and/or get the info from the Lohnausweis that I will attach.

Am I right?

Thanks a lot.
Ale
The tax office will know you paid the quellensteuer & will apportion the bill.
Reply With Quote
This user would like to thank fatmanfilms for this useful post:
  #150  
Old 12.12.2016, 02:29
Member
 
Join Date: Sep 2012
Location: Zurich
Posts: 103
Groaned at 4 Times in 2 Posts
Thanked 13 Times in 13 Posts
Slayer has no particular reputation at present
Re: How to do your tax return Kt ZH

Quote:
View Post
The value you place on your UK home should be 'forced sale value', which is at least 30% less than you would see in an estate agents window.
Just a follow-up on this comment, is this -30% an official calculation, or 'informal advice'? Because I didn't do this in my previous tax returns, and I might have to explain this. There is no 'official valuation' for UK properties, and the Land Registry calculator (very basic) seems to be gone now, replaced by generic reports.

Edit - I re-read the original post and this was in it:
Quote:
"31 If you own a house you need here to fill in its official insurance value. And in 31.2 it takes the values you filled in earlier for all the houses you own."
Now the UK Buildings insurance value is WAY lower than the current market value, since its a bricks-and-mortar rebuild cost, not a cost of buying a place in that location.

And from my 2012 tax return, they calculated imputed rent (even if standing empty) based on the value of my apartment.

Last edited by Slayer; 12.12.2016 at 02:50.
Reply With Quote
  #151  
Old 12.12.2016, 10:54
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 14,666
Groaned at 215 Times in 187 Posts
Thanked 11,984 Times in 6,758 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: How to do your tax return Kt ZH

Quote:
View Post
Just a follow-up on this comment, is this -30% an official calculation, or 'informal advice'? Because I didn't do this in my previous tax returns, and I might have to explain this. There is no 'official valuation' for UK properties, and the Land Registry calculator (very basic) seems to be gone now, replaced by generic reports.

Edit - I re-read the original post and this was in it:

Now the UK Buildings insurance value is WAY lower than the current market value, since its a bricks-and-mortar rebuild cost, not a cost of buying a place in that location.

And from my 2012 tax return, they calculated imputed rent (even if standing empty) based on the value of my apartment.
It's the sale value on a particular day 31/12. The value is what an auction sale might produce without reserve on that day, not the value obtained after 5 months of marketing.

UK properties are valued in bands for local tax, you could also use purchase price.
Own a listed property & insurance value could be far higher than market value.

A valuation of an illiquid asset is never any more than an opinion, only a sale price is a fact.
Reply With Quote
  #152  
Old 12.12.2016, 11:56
aSwissInTheUS's Avatar
Forum Legend
 
Join Date: Nov 2007
Location: Zurich area
Posts: 6,247
Groaned at 51 Times in 48 Posts
Thanked 9,121 Times in 4,056 Posts
aSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond repute
Re: How to do your tax return Kt ZH

Quote:
View Post
Just a follow-up on this comment, is this -30% an official calculation, or 'informal advice'? Because I didn't do this in my previous tax returns, and I might have to explain this. There is no 'official valuation' for UK properties, and the Land Registry calculator (very basic) seems to be gone now, replaced by generic reports.
Zurich City Tax Office. Even for property newly purchased in Switzerland 70% of purchase value is a good first estimate.

https://www.stadt-zuerich.ch/fd/de/i...bewertung.html

For rented out property it is (Yearly rent)/7.05 * 100
Reply With Quote
The following 2 users would like to thank aSwissInTheUS for this useful post:
  #153  
Old 12.12.2016, 13:19
Member
 
Join Date: Sep 2012
Location: Zurich
Posts: 103
Groaned at 4 Times in 2 Posts
Thanked 13 Times in 13 Posts
Slayer has no particular reputation at present
Re: How to do your tax return Kt ZH

Quote:
View Post
Zurich City Tax Office. Even for property newly purchased in Switzerland 70% of purchase value is a good first estimate.

https://www.stadt-zuerich.ch/fd/de/i...bewertung.html

For rented out property it is (Yearly rent)/7.05 * 100
Fantastic info; I did read the link although Mein Deutsche ist nicht so gut, so I am assuming my rented apartment is classed under "commercial buildings, as well as floors owned for business purposes". It does mention adding certain bills which would include Council tax? And is that pre- or post-expenses?
Reply With Quote
  #154  
Old 12.12.2016, 13:20
Member
 
Join Date: Sep 2012
Location: Zurich
Posts: 103
Groaned at 4 Times in 2 Posts
Thanked 13 Times in 13 Posts
Slayer has no particular reputation at present
Re: How to do your tax return Kt ZH

Quote:
View Post
It's the sale value on a particular day 31/12.
Yeah, I still have no idea what that would be :-).
Reply With Quote
  #155  
Old 13.12.2016, 20:13
Member
 
Join Date: Sep 2012
Location: Zurich
Posts: 103
Groaned at 4 Times in 2 Posts
Thanked 13 Times in 13 Posts
Slayer has no particular reputation at present
Re: How to do your tax return Kt ZH

I just dug out what the Tax office finally said about my apartment for my 2012 tax return:

" Imputed rental adapted to new market value ([property value] x 4 .25%, rounded)"
Reply With Quote
  #156  
Old 13.12.2016, 20:34
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 14,666
Groaned at 215 Times in 187 Posts
Thanked 11,984 Times in 6,758 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: How to do your tax return Kt ZH

Quote:
View Post
Yeah, I still have no idea what that would be :-).
Considerably less than the price an estate agent would attempt to get. Put it on Ebay without a reserve, start price 1 CHF & end time 23.59, 31 December & you will get an EXACT answer of it's value.
Reply With Quote
  #157  
Old 13.12.2016, 22:08
Member
 
Join Date: Sep 2012
Location: Zurich
Posts: 103
Groaned at 4 Times in 2 Posts
Thanked 13 Times in 13 Posts
Slayer has no particular reputation at present
Re: How to do your tax return Kt ZH

Quote:
View Post
Considerably less than the price an estate agent would attempt to get. Put it on Ebay without a reserve, start price 1 CHF & end time 23.59, 31 December & you will get an EXACT answer of it's value.
no chance mate. :-) thats part of my future, that is, unless Brexit steals it from me...
Reply With Quote
  #158  
Old 14.12.2016, 10:38
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 14,666
Groaned at 215 Times in 187 Posts
Thanked 11,984 Times in 6,758 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: How to do your tax return Kt ZH

Quote:
View Post
no chance mate. :-) thats part of my future, that is, unless Brexit steals it from me...
Well average UK property sells for nearly 12 times average salaries, historical range being 3-4. Mean reversion will over time steal much of that.
Reply With Quote
  #159  
Old 10.03.2017, 02:51
Junior Member
 
Join Date: Jun 2008
Location: Zurich
Posts: 62
Groaned at 2 Times in 1 Post
Thanked 6 Times in 4 Posts
c_ralu has no particular reputation at present
Re: How to do your tax return Kt ZH

Quote:
View Post
correct. make sure you put the interest paid in the correct column A or B one has 35% withholding applied the other doesn't. it should match the statement you get from the bank/etc.

N.B. my point on CH institutions above. even if they do not give you a year end statement of interest you should still be receiving a year end statement and declaring the account e.g. CH based FX trading accounts. the little or large amount you have in them goes towards your total 'wealth' tax.

bill
Where do you put the total value of your second pension. Also, what about medical expenses?

Thank you
Reply With Quote
  #160  
Old 10.03.2017, 05:05
ivank's Avatar
Forum Veteran
 
Join Date: Feb 2012
Location: ZH
Posts: 1,526
Groaned at 63 Times in 53 Posts
Thanked 1,262 Times in 710 Posts
ivank has an excellent reputationivank has an excellent reputationivank has an excellent reputationivank has an excellent reputation
Re: How to do your tax return Kt ZH

Quote:
Where do you put the total value of your second pension.
Value of your pillar 2 fund or an additional pension income that you're drawing from somewhere?

Pillar 1/2/3a aren't taxed and aren't supposed to be declared. For pension income, there's field 3.2 Renten/Pensionen on the main form for that. But if it's foreign sourced, depending on the tax treaty, it may be not taxable in CH, in which case you deduct it in 26.2 at the same time, so that it only affects your rate.

Quote:
Also, what about medical expenses?
Depends on what kind of expenses, there's a few places to deduct different stuff. For example fields 15, 16.4 or 22.1 and corresponding subforms.
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
B Permit Holder in Zürich - Worth Filing a Tax Return? hbunny Finance/banking/taxation 15 10.11.2009 15:58
Tax return - how much time? devinder2801 Finance/banking/taxation 22 07.03.2008 11:26
intending to return bob30 Permits/visas/government 1 21.07.2007 13:57
Tax form numbers for US tax returns colors General off-topic 1 16.10.2006 01:53


All times are GMT +2. The time now is 02:22.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0