Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #1  
Old 17.12.2016, 06:21
Member
 
Join Date: Sep 2012
Location: Zurich
Posts: 111
Groaned at 4 Times in 2 Posts
Thanked 18 Times in 18 Posts
Slayer has no particular reputation at present
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.
Reply With Quote
  #2  
Old 17.12.2016, 07:24
roegner's Avatar
Moderately Dutch
 
Join Date: May 2011
Location: Zurich
Posts: 11,946
Groaned at 389 Times in 327 Posts
Thanked 15,712 Times in 7,222 Posts
roegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond repute
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?
Reply With Quote
  #3  
Old 17.12.2016, 08:19
Member
 
Join Date: Sep 2012
Location: Zurich
Posts: 111
Groaned at 4 Times in 2 Posts
Thanked 18 Times in 18 Posts
Slayer has no particular reputation at present
Re: Swiss tax: "steuerbares vermögen" question

Quote:
View Post
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?
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
Reply With Quote
  #4  
Old 17.12.2016, 08:46
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,376
Groaned at 461 Times in 352 Posts
Thanked 23,091 Times in 11,824 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: Swiss tax: "steuerbares vermögen" question

Quote:
View Post
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.
Reply With Quote
This user would like to thank fatmanfilms for this useful post:
  #5  
Old 17.12.2016, 15:37
Member
 
Join Date: Sep 2012
Location: Zurich
Posts: 111
Groaned at 4 Times in 2 Posts
Thanked 18 Times in 18 Posts
Slayer has no particular reputation at present
Re: Swiss tax: "steuerbares vermögen" question

Quote:
View Post
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.
Reply With Quote
  #6  
Old 17.12.2016, 19:05
curley's Avatar
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
curley has a reputation beyond reputecurley has a reputation beyond reputecurley has a reputation beyond reputecurley has a reputation beyond reputecurley has a reputation beyond reputecurley has a reputation beyond repute
Re: Swiss tax: "steuerbares vermögen" question

Quote:
View Post
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
Reply With Quote
  #7  
Old 17.12.2016, 22:42
Member
 
Join Date: Sep 2012
Location: Zurich
Posts: 111
Groaned at 4 Times in 2 Posts
Thanked 18 Times in 18 Posts
Slayer has no particular reputation at present
Re: Swiss tax: "steuerbares vermögen" question

Quote:
View Post
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
Reply With Quote
  #8  
Old 17.12.2016, 22:47
curley's Avatar
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
curley has a reputation beyond reputecurley has a reputation beyond reputecurley has a reputation beyond reputecurley has a reputation beyond reputecurley has a reputation beyond reputecurley has a reputation beyond repute
Re: Swiss tax: "steuerbares vermögen" question

Quote:
View Post
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.
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
Question: Tax bill from the Gemeinde for 2014 "Provisorisch" tax cchi Finance/banking/taxation 34 19.01.2015 09:44
"Tax comparation" vs "Withholding tax" in comparis.ch Lanko Finance/banking/taxation 10 23.11.2012 14:58
Small Income "Hobby-Business" Tax question.... acjohnson Business & entrepreneur 14 13.09.2011 12:30
Question on "vermögen" in housing application forms c123 Housing in general 5 11.07.2010 18:42
What are "Withholding Tax" and "Wealth Tax"? BeastOfBodmin Finance/banking/taxation 1 26.08.2007 20:00


All times are GMT +2. The time now is 07:14.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0