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  #141  
Old 07.03.2018, 17:24
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Re: Obvious Tax Deductions

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Is deductible for lunch per household or for couple it is 3200 X 2 .
same question regarding transport as well.
(are you using zuritax?)

only if you are both employed. did you fill out the personal details part correctly i.e. married and then P1 (you) and P2 (your partner) are required to be filled in many of the pages. for example in the "BA" tab (Berufsauslagen) i.e. the work expenses there should be TWO pages to be filled in one for you (P1) and another for your partner (P2) and the amounts apply to the individual so 3200x2. so 3200 on each page of BA for P1 and P2.
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  #142  
Old 07.03.2018, 18:04
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Re: Obvious Tax Deductions

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I received the tax forms from the Zürich tax office and I have some questions on the deductions:

- Transport to work: I commute to Zug everyday but I didn't keep all the receipts. Can I just claim the cost of a 2nd class yearly ticket Zürich - Zug? Or do I actually need to have all the tickets?
12 x a 2nd class monthly ticket.
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  #143  
Old 15.03.2018, 21:04
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Re: Obvious Tax Deductions

Hello all,

I am finishing my tax return.
There are things where I cannot find good answers, even from the Steuernamt.

I like in Zurich Kanton.


It is about managing your own money.
I have a few accounts.

So first, what I gathered:
- SIPPs or Life Insurance wrappers can be considered like 2nd or 3rd pillars. So outside of Wealth tax
- ISAs must be declared
- Costs of accounts can be deducted (like account fees) but not transaction fees, discretionary manager mandate fees, ETF/funds expenses
- For hard to value assets, one can use book cost (VCT or crypto currencies for instance).

Have you got the same answers?
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  #144  
Old 15.03.2018, 21:37
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Re: Obvious Tax Deductions

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Hello all,

I am finishing my tax return.
There are things where I cannot find good answers, even from the Steuernamt.

I like in Zurich Kanton.


It is about managing your own money.
I have a few accounts.

So first, what I gathered:
- SIPPs or Life Insurance wrappers can be considered like 2nd or 3rd pillars. So outside of Wealth tax
- ISAs must be declared
- Costs of accounts can be deducted (like account fees) but not transaction fees, discretionary manager mandate fees, ETF/funds expenses
- For hard to value assets, one can use book cost (VCT or crypto currencies for instance).

Have you got the same answers?
Life insurance valued at surrender value.
1/3% of assets can be deducted as expenses from income tax
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  #145  
Old 16.03.2018, 10:59
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Re: Obvious Tax Deductions

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1/3% of assets can be deducted as expenses from income tax
this. I have taken the number in field WV 400 (Wertschriften- und Gut habenverzeichnis: Total Steuerwert) and multiplied it by 0.003 for many years and had no issues, no additioanl proof (apart from what appeared on brooker statements re fees etc). In most cases 'my number' has been greater that what I have atcually 'proved' in the provided statements, but no issues. If you have significantly more 'costs' than that then you will have to prove them.

Last edited by bill_door; 16.03.2018 at 11:09. Reason: clarity
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  #146  
Old 16.03.2018, 11:07
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Re: Obvious Tax Deductions

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- For hard to value assets, one can use book cost (VCT or crypto currencies for instance).
cryptos are not hard to value, they have an official price defined by the state on Dec 31st, here: select the crypto under the currency list on the right.

anything that is 'tradeable' it is the market price on Dec 31st or you will probably get away with the price you paid for it. Print out the page of the purchase or the platform you use showing the price on Dec 31st. don't know much about VCTs but if they are listed, it is the list price on Dec 31st.

if you declare genuinely hard to value assets you will probably need some sort of 'official' valuation, e.g. art etc.
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  #147  
Old 24.04.2018, 14:06
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Re: Obvious Tax Deductions

So I've just had lunch with a nice German chap and he's told me 2 more deductions :

  1. Each adult can deduct 700 CHF for running costs on a bicycle !?!
  2. Lawyer costs on purchase of a property are fully deductible
Any clever forum people know if they're kosher ?
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  #148  
Old 24.04.2018, 14:15
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Re: Obvious Tax Deductions

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So I've just had lunch with a nice German chap and he's told me 2 more deductions :

  1. Each adult can deduct 700 CHF for running costs on a bicycle !?!
  2. Lawyer costs on purchase of a property are fully deductible
Any clever forum people know if they're kosher ?
The bicycle one I can confirm
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  #149  
Old 24.04.2018, 15:21
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Re: Obvious Tax Deductions

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The bicycle one I can confirm
... but only if you don't claim the general deduction for commuting to work via public transport, oder? I assume the deduction for the bicycle is based on using the bike to commute...?
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  #150  
Old 24.04.2018, 16:08
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Re: Obvious Tax Deductions

Bycicle indeed only when you do not have costs for Public transportation.

In my case they said there is a public transportation close to my place, so I could walk there (and dont need a bike).
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  #151  
Old 24.04.2018, 16:11
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Re: Obvious Tax Deductions

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Bycicle indeed only when you do not have costs for Public transportation.

In my case they said there is a public transportation close to my place, so I could walk there (and dont need a bike).
You can tell them that you are pedalling a bit further than just the next bus stop or train station. But it would mean you have to adjust the ticket cost as well.
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  #152  
Old 24.04.2018, 16:38
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Re: Obvious Tax Deductions

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The bicycle one I can confirm
Likewise.

Tom
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  #153  
Old 24.04.2018, 17:08
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Re: Obvious Tax Deductions

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Lawyer costs on purchase of a property are fully deductible
I tried this (claiming notary fees) and it was not allowed as deduction from income but can be used to reduce capital gain when/if the property gets sold.

On another note,
For Geneva residents: unlike many other cantons GE allows deduction of actual health insurance policy cost for the entire family (no cap at the cantonal level).
In VS you can claim 5000/year living costs per dependent child up to the age of 26 studying outside of the canton (including outside of Switzerland).
In VD you can get some deduction for the rent paid (depending what portion of your income it constitutes - up to max 4900)
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  #154  
Old 24.04.2018, 17:12
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Re: Obvious Tax Deductions

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... but only if you don't claim the general deduction for commuting to work via public transport, oder? I assume the deduction for the bicycle is based on using the bike to commute...?
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Bycicle indeed only when you do not have costs for Public transportation.

In my case they said there is a public transportation close to my place, so I could walk there (and dont need a bike).
In principle if you use a bike only. I do seem to remember a case where someone succesfully deducted both public transport and the bike, reasoning that he needed the bike to go to the train station.
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