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-   -   Zurich enge vs pfaffikon Schwyz (https://www.englishforum.ch/finance-banking-taxation/300364-zurich-enge-vs-pfaffikon-schwyz.html)

NewInSchwyz 26.09.2020 15:51

Zurich enge vs pfaffikon Schwyz
 
I ve seen a few posts here about people moving to Schwyz from Zurich for tax reasons. I’d hope someone can help me work out the tax saving and I have looked at comparison

I’m 42 single no religion and after deductions and pension I have a net salary of 120k

What tax difference can I expect if I moved further down the coast to pfaffikon Schwyz. I have also checked property prices but that’s not a factor

Chuff 26.09.2020 15:58

Re: Zurich enge vs pfaffikon Schwyz
 
Quote:

Originally Posted by NewInSchwyz (Post 3220934)
I ve seen a few posts here about people moving to Schwyz from Zurich for tax reasons. I’d hope someone can help me work out the tax saving and I have looked at comparison

I’m 42 single no religion and after deductions and pension I have a net salary of 120k

What tax difference can I expect if I moved further down the coast to pfaffikon Schwyz. I have also checked property prices but that’s not a factor

Do you care about a relatively small tax saving more than convenience and and social life? Because Enge is central Zurich and pfaffikon is half an hour away. It makes a huge difference in terms of convenience, the ability to be spontaneous and also getting home late at night.

NewInSchwyz 26.09.2020 16:15

Re: Zurich enge vs pfaffikon Schwyz
 
Quote:

Originally Posted by Chuff (Post 3220935)
Do you care about a relatively small tax saving more than convenience and and social life? Because Enge is central Zurich and pfaffikon is half an hour away. It makes a huge difference in terms of convenience, the ability to be spontaneous and also getting home late at night.

Id like to know the tax difference calculation so I know what the trade off is. Salaries are being squeezed and bonuses will be smaller this year so in this environment I do want to know what go expect

AbFab 26.09.2020 16:19

Re: Zurich enge vs pfaffikon Schwyz
 
...and the cost of moving should be deducted from any saving.

Chuff 26.09.2020 16:38

Re: Zurich enge vs pfaffikon Schwyz
 
Quote:

Originally Posted by NewInSchwyz (Post 3220941)
Id like to know the tax difference calculation so I know what the trade off is. Salaries are being squeezed and bonuses will be smaller this year so in this environment I do want to know what go expect

Then use a Swiss tax calculator? https://www.google.com/search?sxsrf=...4dUDCA0&uact=5

DUTCH 26.09.2020 16:42

Re: Zurich enge vs pfaffikon Schwyz
 
Search the web and you can find some calculators to compare the exact Gemeinde situation. In SZ the lowest are Freienbach/Wollerau. Worst case look at Kt. SZ website, link here and compare to Kt. ZH website.

For the income level you say, the tax savings are likley to be low single digit thousand a year. So unless you have significant wealth (big difference in tax rates), the move may be a wash overall.

roegner 26.09.2020 16:49

Re: Zurich enge vs pfaffikon Schwyz
 
If you are looking to save money, there are nice places that do not cost 4,5k so getting a cheaper place will save a lot of money.

NewInSchwyz 26.09.2020 19:08

Re: Zurich enge vs pfaffikon Schwyz
 
Hi many thanks. I am already downsizing my apartment to something a little cheaper which will cost 3k.

What I am also trying to figure out is the tax saving. I am moving 1 December so that this years tax is at the lower rate but I cannot work out the expected benefit and therefore refund that I can expect and therefore what cash has been freed up to use

komsomolez 26.09.2020 19:14

Re: Zurich enge vs pfaffikon Schwyz
 
Quote:

Originally Posted by NewInSchwyz (Post 3220966)
Hi many thanks. I am already downsizing my apartment to something a little cheaper which will cost 3k.

What I am also trying to figure out is the tax saving. I am moving 1 December so that this years tax is at the lower rate but I cannot work out the expected benefit and therefore refund that I can expect and therefore what cash has been freed up to use

Are you expecting that we calculate this for you?

Chuff 26.09.2020 19:20

Re: Zurich enge vs pfaffikon Schwyz
 
Quote:

Originally Posted by NewInSchwyz (Post 3220966)
Hi many thanks. I am already downsizing my apartment to something a little cheaper which will cost 3k.

What I am also trying to figure out is the tax saving. I am moving 1 December so that this years tax is at the lower rate but I cannot work out the expected benefit and therefore refund that I can expect and therefore what cash has been freed up to use

Didn't you use one of the tax calculators that I linked? Use Google translate on the websites if you can't understand some of it.

NewInSchwyz 26.09.2020 19:26

Re: Zurich enge vs pfaffikon Schwyz
 
the kanton schwyz website does not translate into english using chrome so yes I cannot answer the question

If you can give me an idea it would help me know what I can afford to spend till Dec this year

komsomolez 26.09.2020 19:31

Re: Zurich enge vs pfaffikon Schwyz
 
Quote:

Originally Posted by NewInSchwyz (Post 3220972)
the kanton schwyz website does not translate into english using chrome so yes I cannot answer the question

If you can give me an idea it would help me know what I can afford to spend till Dec this year

Oh, you are the guy with the RAV thread! So you earn 180k base but are likely to become unemployed, you are single and are now downsizing on rent from 4.5k to a modest 3k. You are moving to SZ to optimize your tax, but you haven't even done the calculations. You spend every penny you make, consequentially have no savings and now your biggest concern is how to spend the tax gain from your move. Did I sum this up correctly?

Wow.

NewInSchwyz 26.09.2020 19:32

Steuerkalkulator - Einkommens- und Vermögenssteuern
GemeindeFreienbach
ZivilstandAlleinstehend
Konfession (Anzahl Familienmitglieder ohne volljährige Kinder)
- katholisch0
- reformiert0
- andere/keine1
Steuerperiode2019
KantonGemeindeBund
Steuerbares Einkommen120'000120'000120'000
Satzbestimmendes Einkommen vor Splitting120'000120'000120'000
Steuerbares Vermögen00
Einfache Steuer Einkommen4'1034'103
Einfache Steuer Vermögen00
Total einfache Steuer4'1034'103
Steuerfuss Kanton/Gemeinde160%80%
Zwischenergebnis6'5663'2834'555
Total Kantons- und Gemeindesteuer CHF9'849
Total Bundessteuer CHF4'555


Quote:

Originally Posted by komsomolez (Post 3220973)
Oh, your are the guy with the RAV thread! So you earn 180k base but are likely to become unemployed, you are single and are now downsizing on rent from 4.5k to a modest 3k. You are moving to SZ to optimize your tax, but you haven't even done the calculations. You spend every penny you make, consequentially have no savings and now your biggest concern is how to spend the tax gain from your move. Did I sum this up correctly?

Wow.

I spend the salary I earn and the bonus is my yearly savigs which I use to pay down a UK mortgage - Id say that was pretty good going. I live a middle class lifestyle nothing fancy at all... You know zurich is expensive so why are you having a go

The answer I am left with is 8.5K - I could not use the zurich or schwyz tax calculator so used comparis

Whilst that is not a life changing amount that does help a litte.

I hope that number is reliable and approximate - If anyone can confirm that would be helpful and close this thread

Chuff 26.09.2020 20:06

Re: Zurich enge vs pfaffikon Schwyz
 
Quote:

Originally Posted by NewInSchwyz (Post 3220975)
I spend the salary I earn and the bonus is my yearly savigs which I use to pay down a UK mortgage - Id say that was pretty good going. I live a middle class lifestyle nothing fancy at all... You know zurich is expensive so why are you having a go

The probem on relying on a bonus for your entire saving is that it's not guaranteed. If you are spending your entire salary each and every month and not having anything left over from 12k+ CHF then that should concern you.

You are also mad to have been spending 4.5k as a single guy on rent (if what the other guy said is true), it is literally throwig money away... you should be aiming for max 2.5k or less.

Quote:

Originally Posted by NewInSchwyz (Post 3220975)
You know zurich is expensive so why are you having a go

I think he is having a go because your RAV thread shows that you are a pretty low on ethics with openly wanting to abuse the system. I hope they give you hell! :D

JSOU 26.09.2020 20:08

Re: Zurich enge vs pfaffikon Schwyz
 
You should consider that the savings might not be automatically perceived when you move as the estimation of the next tax is based in the previous year.

NewInSchwyz 26.09.2020 20:53

Re: Zurich enge vs pfaffikon Schwyz
 
Quote:

Originally Posted by Chuff (Post 3220983)
The probem on relying on a bonus for your entire saving is that it's not guaranteed. If you are spending your entire salary each and every month and not having anything left over from 12k+ CHF then that should concern you.

You are also mad to have been spending 4.5k as a single guy on rent (if what the other guy said is true), it is literally throwig money away... you should be aiming for max 2.5k or less.



I think he is having a go because your RAV thread shows that you are a pretty low on ethics with openly wanting to abuse the system. I hope they give you hell! :D

I understand your point of view but also please understand that saving money is not easy. Just today I have spent 400chf for unblocking a sink, 150 chf on fuel 200+ on food and the car tyres need replacing tomorrow which will cost god only knows.

I have realised I need to improve my safety net which is why I have already planned to move further out and save a bit on the rent

Finally just today here is how the pm of Uk is living https://www.dailymail.co.uk/news/art...ay-cut-PM.html

Not everyone has thousands stashed away. Many are just about managing. I’m fortunate to have no credit card debts but also not much in savings.

roegner 26.09.2020 21:00

Re: Zurich enge vs pfaffikon Schwyz
 
Quote:

Originally Posted by NewInSchwyz (Post 3220993)
I understand your point of view but also please understand that saving money is not easy. Just today I have spent 400chf for unblocking a sink, 150 chf on fuel 200+ on food and the car tyres need replacing tomorrow which will cost god only knows.

I have realised I need to improve my safety net which is why I have already planned to move further out and save a bit on the rent

Finally just today here is how the pm of Uk is living https://www.dailymail.co.uk/news/art...ay-cut-PM.html

Not everyone has thousands stashed away. Many are just about managing. I’m fortunate to have no credit card debts but also not much in savings.

Just keep in mind that this is a luxury problem you´re having. People live off less than what you spend on your apartment. Managing most of the time is somehow not something you hear from people with your salary. Or if then, it is conceived to be slightly different from people who actually have to manage.....

Edit: Not sure what kind of petrol guzzling car you drive but even my petrol loving quattro never got to that amount and unblocking a sink: check out Landi, get a bottle of that stuff to unblock drains and use it

k_and_e 26.09.2020 21:03

Re: Zurich enge vs pfaffikon Schwyz
 
I propose we do a fund raising for the poor expat that has trouble surviving on a salary of 120k.

komsomolez 26.09.2020 21:03

Re: Zurich enge vs pfaffikon Schwyz
 
Quote:

Originally Posted by NewInSchwyz (Post 3220993)
I understand your point of view but also please understand that saving money is not easy. Just today I have spent 400chf for unblocking a sink, 150 chf on fuel 200+ on food and the car tyres need replacing tomorrow which will cost god only knows.

I have realised I need to improve my safety net which is why I have already planned to move further out and save a bit on the rent

Finally just today here is how the pm of Uk is living https://www.dailymail.co.uk/news/art...ay-cut-PM.html

Not everyone has thousands stashed away. Many are just about managing. I’m fortunate to have no credit card debts but also not much in savings.

Either you are a troll and just taking the piss. Or you are the most lucky guy in that despite your mind-boggling naivete you tricked someone into paying you 180k.

Chuff 26.09.2020 21:13

Re: Zurich enge vs pfaffikon Schwyz
 
Quote:

Originally Posted by NewInSchwyz (Post 3220993)
I understand your point of view but also please understand that saving money is not easy. Just today I have spent 400chf for unblocking a sink, 150 chf on fuel 200+ on food and the car tyres need replacing tomorrow which will cost god only knows.

I have realised I need to improve my safety net which is why I have already planned to move further out and save a bit on the rent

Finally just today here is how the pm of Uk is living https://www.dailymail.co.uk/news/art...ay-cut-PM.html

Not everyone has thousands stashed away. Many are just about managing. I’m fortunate to have no credit card debts but also not much in savings.

Saving money as a single guy on 180k + bonus isn't easy... are you taking the absolute piss? :rofl: Also, Boris has had divorce settlements and child mantenance to pay... so unless you also have an ex-wife and a few kids then your situation is nothing alike.

Just based on what you have said it seems you have been living on the edge of your means, spending way too much on rent and thenwhatever else it is you do with those thousands in your free time (I can guess ;)). It's nothing to do with how expensive Switzerland is, as many earn people earn less than you and still save multiple thousands per month.


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