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Old 30.07.2011, 15:56
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Obvious Tax Deductions

Hi EF'ers,

Purpose of this post is to compile a list of known/proven/tested tax deductions here in Switzerland. Avoid hypothetical suggestions/entries.

Note that it is just a list, rather than an in-depth discussion on particular laws and personal circumstances.

Can I suggest that if you wish to know more about a particular topic, then search for information/details in existing threads and if not found, then start/open a new thread.

Obviously links to clear and understandable material that supports your submission, would be most helpful.

Ultimately the aim of this is to have a list that you can stick on the fridge door as a reminder before December 31st comes.

OK clear ? ... here we go ... this is my contribution ....

- Contributions to 1st pillar pension
- Contributions to 2nd pillar pension
- Contributions to 3rd pillar pension
- Money transfer to "poor" relative.
- High medical bills
- House renovations (claimable in current year).
- House improvements (claimable at sale).
- Charity donations
- Mortgage interest payments

Any more?

Swissmorgs
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Old 30.07.2011, 16:09
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Re: Obvious Tax Deductions

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Hi EF'ers,

Purpose of this post is to compile a list of known/proven/tested tax deductions here in Switzerland. Avoid hypothetical suggestions/entries.

Note that it is just a list, rather than an in-depth discussion on particular laws and personal circumstances.

Can I suggest that if you wish to know more about a particular topic, then search for information/details in existing threads and if not found, then start/open a new thread.

Obviously links to clear and understandable material that supports your submission, would be most helpful.

Ultimately the aim of this is to have a list that you can stick on the fridge door as a reminder before December 31st comes.

OK clear ? ... here we go ... this is my contribution ....

- Contributions to 1st pillar pension
- Contributions to 2nd pillar pension
- Contributions to 3rd pillar pension
- Money transfer to "poor" relative.
- High medical bills
- House renovations … (claimable in current year).
- House improvements … (claimable at sale).
- Charity donations
- Mortgage interest payments

Any more?

Swissmorgs
Travel to work
Lunch at work
Training Costs
Medical Insurance
costs of looking after your money
Any interest costs on loans
Children
Dependant relatives

1st & 2nd pillar are not subject to tax in the first place as they are deduceted at souce, you are taxed on Net income paid out rather than gross income earnt.

Just fill in a tax return, or use software, no link needed.
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Old 30.07.2011, 16:22
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Re: Obvious Tax Deductions

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Travel to work
Bicycle purchase cost?
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Old 30.07.2011, 16:28
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Re: Obvious Tax Deductions

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Bicycle purchase cost?
For going to work 600 chf a year IIRC
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Old 30.07.2011, 16:41
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Re: Obvious Tax Deductions

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For going to work 600 chf a year IIRC
Does that include car tax, insurance & parking fees etc?
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Old 30.07.2011, 16:44
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Re: Obvious Tax Deductions

What is considered high medical bills?

- High medical bills
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Old 30.07.2011, 16:52
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Re: Obvious Tax Deductions

Tax accountant fees ?
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Old 30.07.2011, 16:53
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Re: Obvious Tax Deductions

Childcare, although I think it depends on the Kanton
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Old 30.07.2011, 17:40
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Re: Obvious Tax Deductions

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What is considered high medical bills?
More than 10% of your income.

Quote:
Bicycle purchase cost?
It's bicycle expenses, CHF 700.

Tom
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Old 30.07.2011, 17:41
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Re: Obvious Tax Deductions

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Bicycle purchase cost?
That's an interesting one. I know you can deduct either mileage if you drive or the cost of your abo if you use public transport, but I wonder how they would interpret bike-related costs, and whether they would allow anything at all ?

Edit: answered by Tom while I was typing my post !
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Old 30.07.2011, 18:32
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Re: Obvious Tax Deductions

Thanks for the contributions so far.

Travel to work - agree
Lunch at work - agree
Training Costs - can you expand on this?
Medical Insurance - in BS this is not allowed - is this allowed in other cantons?
costs of looking after your money - bank fees?
Any interest costs on loans - agreed - like a mortgage.
Children - was not aware.
Dependant relatives - already listed.
1st & 2nd pillar - I was told that additional contributions are tax deductible and this is why I made additional contributions in 2010. Accountant did not query and said it was a good thing to do.
Bicycle purchase - pending experience feedback.
Tax accountant fees - I was told no however financial advice is, so perhaps some "creativity" is required.

Summary so far:

- Contributions to 1st pillar pension
- Contributions to 2nd pillar pension
- Contributions to 3rd pillar pension
- High medical bills (min 10% of salary)
- House renovations (claimable in current year).
- House improvements (claimable at sale).
- Charity donations
- Mortgage interest payments
- Travel to work - agree
- Lunch at work - agree
- Training Costs - more info needed
- Medical Insurance - more info needed
- Costs of looking after your money - more info needed
- Interest costs on loans.
- Children - depends on canton
- Dependant relative support
- Bicycle purchase - pending feedback/experience (under travel to work?)
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Old 30.07.2011, 18:43
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Re: Obvious Tax Deductions

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Medical Insurance - in BS this is not allowed - is this allowed in other cantons?
Yes in NE - deduction is capped at 2,400 CHF for a single person and 4,800 CHF for a couple though, so in most cases some of it still ends up being taxed.
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Old 30.07.2011, 19:55
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Re: Obvious Tax Deductions

If you pick up the cantonal taxation CD you can have a dry run and see what you might be missing. Alternatively wait until you fill in your tax return in February. Alternatively get a tax accountant / someone to help you. I think you will find the missus and the kids are deductible in ALL cantons.
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Old 30.07.2011, 20:01
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Re: Obvious Tax Deductions

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Thanks for the contributions so far.

Travel to work - agree
Lunch at work - agree
Training Costs - can you expand on this?
Medical Insurance - in BS this is not allowed - is this allowed in other cantons?
costs of looking after your money - bank fees?
Any interest costs on loans - agreed - like a mortgage.
Children - was not aware.
Dependant relatives - already listed.
1st & 2nd pillar - I was told that additional contributions are tax deductible and this is why I made additional contributions in 2010. Accountant did not query and said it was a good thing to do.
Bicycle purchase - pending experience feedback.
Tax accountant fees - I was told no however financial advice is, so perhaps some "creativity" is required.

Summary so far:

- Contributions to 1st pillar pension
- Contributions to 2nd pillar pension
- Contributions to 3rd pillar pension
- High medical bills (min 10% of salary)
- House renovations … (claimable in current year).
- House improvements … (claimable at sale).
- Charity donations
- Mortgage interest payments
- Travel to work - agree
- Lunch at work - agree
- Training Costs - more info needed
- Medical Insurance - more info needed
- Costs of looking after your money - more info needed
- Interest costs on loans.
- Children - depends on canton
- Dependant relative support
- Bicycle purchase - pending feedback/experience (under travel to work?)
As I said just fill in the form, it's all very obvious.

Training costs is at cost or 400chf
Medical Insurance 2400 max Canton 2100 Bund IIRC plus medical expenses if above 10% of salary
1/3% of capital is allowed an expense of capital.
An allowance for children
Bicycle running costs 600 or 700 if thats your mode of going to work.
You will get a form for any additional Pliar 2 contributions eg missed years. I paid an extra 35,000 one year to pay the years before I came to CH.

There is a very detailed thread on filling in a tax return in ZH, the search function is your friend.
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Old 30.07.2011, 20:03
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Re: Obvious Tax Deductions

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Yes in NE - deduction is capped at 2,400 CHF for a single person and 4,800 CHF for a couple though, so in most cases some of it still ends up being taxed.
I suspect the tax allowance will cover the legally required insurance with a 1500 franchise, it does in my case. If you choose extra insurance it seems reasonable that you should pay for it out of taxed income.
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Old 30.07.2011, 20:46
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Re: Obvious Tax Deductions

You can also claim a room as a home office if you work from home.
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Old 30.07.2011, 21:12
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Re: Obvious Tax Deductions

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You can also claim a room as a home office if you work from home.
Once your running a business the possibilities grow hugely.
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Old 02.08.2011, 12:32
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Re: Obvious Tax Deductions

Thanks for the information on the medical deductions.
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Old 02.08.2011, 12:34
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Re: Obvious Tax Deductions

Just a heads up for those that may be leaving Switzerland. Therwil in BL requires that all your taxes be paid before your deregistration is processed. This includes the current year.

I am leaving in August and I had to figure out my taxes pretty quickly so that I can leave. I also have a company in the US that was suppose to pay part of 2010 taxes and they have not yet done that so I am asking them to hurry and pay them so I can leave.
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Old 02.08.2011, 15:24
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Re: Obvious Tax Deductions

I had no idea about the following. Obviously I am very interested to get my hands on your final list and then take this up with my Tax Consultant. Thank you for putting the time and effort.

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Thanks for the contributions so far.

- High medical bills (min 10% of salary)
- Travel to work - agree
- Lunch at work - agree
- Training Costs - more info needed
- Medical Insurance - more info needed
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