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Old 03.05.2020, 18:17
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Asset transfer between spouses

Hi All,


Is it fine to transfer greater amounts eg. 50k between spouses having non-joint bank/investment accounts or this is automatically assumed as gift?

Also, since it will be first time filing joint tax declaration, does assets/accounts have to be declared as belonging to one of the spouses or tax office is agnostic to personal ownership since it is joint tax declaration?


Thank you.
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Old 03.05.2020, 18:20
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Re: Asset transfer between spouses

No idea about the gift part but youŽll have to declare it anyway, regardless of who owns the assets
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Old 03.05.2020, 21:00
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Re: Asset transfer between spouses

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Is it fine to transfer greater amounts eg. 50k between spouses having non-joint bank/investment accounts or this is automatically assumed as gift?

Also, since it will be first time filing joint tax declaration, does assets/accounts have to be declared as belonging to one of the spouses or tax office is agnostic to personal ownership since it is joint tax declaration?
A gift to the spouse is free from gift taxation in Ct. Zurich:
§ 11. Der Ehegatte ... (ist) von der Steuerpflicht befreit.

https://www.steueramt.zh.ch/dam/fina...H_2012_DEF.pdf

Ct. Zurich's asset tax is based on the combined taxable assets of the couple, irrespective of whether they are jointly or individually held.
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Old 03.05.2020, 21:04
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Re: Asset transfer between spouses

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No idea about the gift part but youŽll have to declare it anyway, regardless of who owns the assets
Surely, this asset will already be visible on their last joint tax form.
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Old 03.05.2020, 23:14
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Re: Asset transfer between spouses

Multiple gifts to spouse are taxed. I'll rephrase question without gift.

Can you move money between spouses non-joint accounts? Would tax office have issues with that?
Related to join tax declaration - do you need to specify which assets belongs to which spouse?
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Old 03.05.2020, 23:20
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Re: Asset transfer between spouses

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Multiple gifts to spouse are taxed. I'll rephrase question without gift.

Can you move money between spouses non-joint accounts? Would tax office have issues with that?
Related to join tax declaration - do you need to specify which assets belongs to which spouse?
As for the tax a married couple is sort of a single taxable entity, they don't care if you transfer 100K in between bank accounts 20 times a year or whom of the two of you owns the bank accounts.
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Old 04.05.2020, 07:53
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Re: Asset transfer between spouses

and I guess you are talking solely about the Swiss tax regime.
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Old 04.05.2020, 08:26
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Re: Asset transfer between spouses

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As for the tax a married couple is sort of a single taxable entity, they don't care if you transfer 100K in between bank accounts 20 times a year or whom of the two of you owns the bank accounts.
And to be more precise, all they care about is what assets you jointly hold on 31 December each year. What you do with them between the two of you throughout the year is your business, although if there's a significant change in the quantum of any asset, you may be asked to explain.
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Old 04.05.2020, 08:50
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Re: Asset transfer between spouses

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Also, since it will be first time filing joint tax declaration,
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Surely, this asset will already be visible on their last joint tax form.
Do try to keep up.
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Old 04.05.2020, 08:58
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Re: Asset transfer between spouses

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Do try to keep up.
Thank you for that. Yes. I didn't read the OP correctly. Sorry if it caused any confusion. But the main point I was attempting to make, which @22_Yards has effectively made in the meantime , is that assets which suddenly appear are likely to attract attention.
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Old 04.05.2020, 10:33
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Re: Asset transfer between spouses

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Thank you for that. Yes. I didn't read the OP correctly. Sorry if it caused any confusion. But the main point I was attempting to make, which @22_Yards has effectively made in the meantime , is that assets which suddenly appear are likely to attract attention.
Assets that suddenly disappear, too -- the tax man is very interested in those, as well. You'll need to provide proof of closure of bank accounts, sale of shares, cars, etc., and possibly explain where the money went.
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Old 04.05.2020, 11:26
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Re: Asset transfer between spouses

We have never been asked to explain the closure of accounts, which we have done a few times. This includes off shore accounts. Maybe they are less pickie in Vaud.
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Old 04.05.2020, 11:44
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Re: Asset transfer between spouses

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assets which suddenly appear are likely to attract attention.
Depends on the amounts.

Less than CHF 1m, not likely.

At least not in Ticino.

Tom
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Old 04.05.2020, 11:55
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Re: Asset transfer between spouses

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Depends on the amounts.

Less than CHF 1m, not likely.

At least not in Ticino.

Tom
Yes. Of course. I wasn't talking about pocket money. A few million wouldn't cause any raised eyebrows here either. Also losses are usually easier to explain: bad luck at roulette, expensive wines, women etc.
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