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17.12.2016, 06:21
| Member | | Join Date: Sep 2012 Location: Zurich
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| | Swiss tax: "steuerbares vermögen" question
Hi all,
Probably a noob question when doing a late (Canton Zurich) tax return late at night, but when filling in the "Assets at home and abroad section", for "steuerbares vermögen im Kanton Zurich", I end up with a negative value if I deduct my foreign property, since that, along with my UK mortgage remaining debt, when subtracted from my total assets far outstrips my Swiss assets.
Is this acceptable, or have I misunderstood the section (should I omit foreign property somehow)? This phrase "36. Vom steuerbaren Vermögen gemäss Ziffer 35 entfallen:" doesn't google-translate very well. I assume they expect you to use the 'total assets minus debts' figure, from which to subtract foreign assets (both securities and property value)?
This will probably make sense in the morning, but right now my brain is frazzled. Must learn German! :-)
cheers,
Slayer.
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17.12.2016, 07:24
|  | Moderately Dutch | | Join Date: May 2011 Location: Zurich
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| | Re: Swiss tax: "steuerbares vermögen" question
AFAIK you can deduct the mortgage interest, not the value of your place abroad.
And yes, you have to add foreign property. Eigenmietwert on (unused) property abroad? | 
17.12.2016, 08:19
| Member | | Join Date: Sep 2012 Location: Zurich
Posts: 111
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| | Re: Swiss tax: "steuerbares vermögen" question | Quote: | |  | | | | | | | | Thanks for the quick reply, roegner.
just to clarify (still lacking a proper rest  )
I declare the UK properties in 31.2, which adds to my total assets in Section 33.
I subtract my UK mortgage debt in Section 34 (I copy box 470 as indicated)..
The resulting value in Section 35 is less than my 36.2 (foreign Property and securities value).
I cannot see how I can avoid filling in those boxes in this way.
I guess I will let the tax office correct me; I have indicated my confusion on a supplementary notes sheet.
cheers,
Slayer
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17.12.2016, 08:46
|  | Forum Legend | | Join Date: Apr 2010 Location: Verbier
Posts: 21,376
Groaned at 461 Times in 352 Posts
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| | Re: Swiss tax: "steuerbares vermögen" question | Quote: | |  | | | Thanks for the quick reply, roegner.
just to clarify (still lacking a proper rest )
I declare the UK properties in 31.2, which adds to my total assets in Section 33.
I subtract my UK mortgage debt in Section 34 (I copy box 470 as indicated)..
The resulting value in Section 35 is less than my 36.2 (foreign Property and securities value).
I cannot see how I can avoid filling in those boxes in this way.
I guess I will let the tax office correct me; I have indicated my confusion on a supplementary notes sheet.
cheers,
Slayer | | | | | Having a negative net worth is quite possible.
| This user would like to thank fatmanfilms for this useful post: | | 
17.12.2016, 15:37
| Member | | Join Date: Sep 2012 Location: Zurich
Posts: 111
Groaned at 4 Times in 2 Posts
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| | Re: Swiss tax: "steuerbares vermögen" question | Quote: | |  | | | Having a negative net worth is quite possible. | | | | | I didn't even realise I am doing a Donald Trump.
But somehow, I know I am doing it wrong, as that is not possible. If I work that out, and get some tax back on my foreign dividends, I think I will have cracked this 'doing tax returns in a language I am woefully bad on' thing.
cheers,
Slayer.
| 
17.12.2016, 19:05
|  | Forum Legend | | Join Date: Oct 2006 Location: canton ZH
Posts: 13,131
Groaned at 218 Times in 182 Posts
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| | Re: Swiss tax: "steuerbares vermögen" question | Quote: | |  | | | I didn't even realise I am doing a Donald Trump.
But somehow, I know I am doing it wrong, as that is not possible. If I work that out, and get some tax back on my foreign dividends, I think I will have cracked this 'doing tax returns in a language I am woefully bad on' thing. 
cheers,
Slayer. | | | | | You've been at it for about 9 hours now .... you should take a break | 
17.12.2016, 22:42
| Member | | Join Date: Sep 2012 Location: Zurich
Posts: 111
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| | Re: Swiss tax: "steuerbares vermögen" question | Quote: | |  | | | You've been at it for about 9 hours now .... you should take a break | | | | |  I posted it this morning. more than 2 weeks late. I definitely need to get better at this. The infuriating thing is, I normally am. It is really quite bad when you can't read the form without some sort of Internet help.
On that note, converting the forms form PDF to HTML5 online, means Google can translate them for you. I would be lost without that :-)
cheers,
Slayer
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17.12.2016, 22:47
|  | Forum Legend | | Join Date: Oct 2006 Location: canton ZH
Posts: 13,131
Groaned at 218 Times in 182 Posts
Thanked 15,264 Times in 7,847 Posts
| | Re: Swiss tax: "steuerbares vermögen" question | Quote: | |  | | | I posted it this morning. more than 2 weeks late. I definitely need to get better at this. The infuriating thing is, I normally am. It is really quite bad when you can't read the form without some sort of Internet help.
On that note, converting the forms form PDF to HTML5 online, means Google can translate them for you. I would be lost without that :-)
cheers,
Slayer | | | | | Don't worry about it, those forms drive even some natives nuts. Me for a start. That's why I don't bother doing that myself.
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