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Old 01.10.2014, 15:09
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Questions about net wealth tax

My family moves to Basel 5 months ago.

The net wealth tax is new to us. I did some researches through google and the forum. However, I still have some questions regarding the net wealth tax.

I hope that friends at the forum can provide some clues and clarification for me.

1. I understand that the basic concept of the net wealth is
worldwide asset liabilities = net wealth.

In order to determine the net wealth, is there any deduction offered for married couple with 1 child (2 year old)?

2. We have a small house in the home country. We do not rent the house after we move to Basel. I understand that the value of the foreign property is used to determine the tax rate for net wealth tax only.

How about bank deposits at the foreign country? Is the bank deposits abroad used to determine tax rate only, but not taxable?

3. It seems that the self-rental value will be set for a property abroad which is not rented out. How is the self-rental value determined?

My concern is that the rent in Basel is high compared with the rent in my home country. I feel penalized by having a home abroad, paying mortgage interest and maintenance cost. Additionally, the self-rental value is likely to push up the tax rate.

Thank you.
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