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Old 31.10.2019, 09:03
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No Longer on Witholding

Morning!
I got a letter from the amt stating that as I bought property, my employer was to refund me the withholding tax I've paid so far, and that I would be now paying my own taxes at the end of the year.


I've been told that I can pay the money monthly (and get interest) - does anyone have some details on how this works, how to sign up for it, etc?


Any advice on how much to pay each month? (I'm thinking 25% of salary on a monthly basis, does that sound reasonable? They refund any excess I believe)


Thanks,
m.
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Old 31.10.2019, 09:15
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Re: No Longer on Witholding

FYI, here is a table from Comparis showing what the 2019 pre-payment interest rate is in each canton:
https://www.comparis.ch/steuern/steu...zahlung-zinsen

Zürich is still a fairly decent 0.500%, unlike some other cantons that have further reduced or eliminated pre-payment interest.

But given the current state of bank interest rates, do keep an eye on out for the possibility of changes going forward.
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Old 31.10.2019, 10:34
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Re: No Longer on Witholding

You can order payment slips from your local tax office.
https://www.steueramt.zh.ch/internet...allgemein.html

2019 tax was due September 30st. Anything paid before or paid too much is awarded with a mighty 0.5% interest, any tax not paid at September 30st is punished with a whooping interest of 0.5%.

This interst will change on january 2020 down to 0.25

(This applies to Canton Zurich)

Last edited by aSwissInTheUS; 31.10.2019 at 11:31.
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Old 31.10.2019, 12:13
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Re: No Longer on Witholding

Quote:
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You can order payment slips from your local tax office.
https://www.steueramt.zh.ch/internet...allgemein.html

2019 tax was due September 30st. Anything paid before or paid too much is awarded with a mighty 0.5% interest, any tax not paid at September 30st is punished with a whooping interest of 0.5%.

This interst will change on january 2020 down to 0.25

(This applies to Canton Zurich)
Thanks both - sadly I'm now a taxpayer in Aargau, so I only "get" 0.1%... That said, I need to dig up the payment link for Aargau.

Does 25% seem like a sensible about to prepay? In an ideal world, I would get as close to reality as possible... but after being in Zurich for 2 years, I STILL have not had my tax bill from 2017...

Calling the tax office, they just say that they have a backlog, which isn't particularly helpful...
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Old 31.10.2019, 12:23
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Re: No Longer on Witholding

If you want to be on the safe side, use comparis or something like that to determine your tax rate. Or call your Steueramt, they should be able to tell you.


No idea about tax rates in AG but 25% taxes in ZH means you earn a LOT of money
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Old 31.10.2019, 22:37
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Re: No Longer on Witholding

does your canton have tax software to download to produce your tax papers? I assume so, download and play with it. if you are honest and accurate the numbers that come out are pretty good. add 10% if you want to be on the safe side.


note that if you get it wrong, you only pay interest on the underpayment difference (from Sept 30th) at a similar rate to the savings rate. Paying or not paying the tax man is either the best savings account or the best loan deal you can get in CH at the moment! either way you win, if you can trust to yourself not to spend the lump sum in your account (c;
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Old 31.10.2019, 23:18
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Re: No Longer on Witholding

Just wait the bills. They'll come soon enough.
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