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Old 10.03.2021, 10:37
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Taxes on Property Abroad (Kanton Zürich)

Hi EF,
I am hopeing someone can give me some guidance on the following questions. I am currently filling my tax return for Zurich and I have read all the support documents from Zurich Kantonal office but I do yet not quite understand (due my poor german) what to do as last year I bought a new property in Spain.


- I need to declare the value of the house, in Vermögen/Liegenshaften, but anyone knows how to calculate the value? The reference doucments refer to Kantonal guidance but obviously this is not applicable in a foregin property.
Vermögenssteuerwert = Bruttojahresertrag x 100 / 7.04 formula also is described but my prioperty is not rented. Can I use the value that is used for Spanish Tax authorities?
- I am also not clear as it is not rented, if I need to fill in the Einkünfte aus Liegenschaften [Ziffer 6] and how to estimate the value.
I would assume, as it is a flat, it is supposed to be 4.25% of the first value? I guess this is aplicable for properties abroad?
- Can I estimate cost of mantainance to deduct?

For more reference these are the documents explaining: https://www.zh.ch/content/dam/zhweb/...0_HA_DEF_2.pdf
Page 16 and 24.

IF someone is going through the same, would be great to know if I am understanding this correctly. Will cross check with tax authorities anyway most likely but a least I have a direction that I am not totally wrong (or yes)


ps. please bear in mind I am asking for Kanton Zürich as taxations rules highly depen on the kanton for this matter.
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Old 12.03.2021, 10:33
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Re: Taxes on Property Abroad (Kanton Zürich)

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Hi EF,
Can I use the value that is used for Spanish Tax authorities?
I would use that.

Quote:
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- I am also not clear as it is not rented, if I need to fill in the Einkünfte aus Liegenschaften [Ziffer 6] and how to estimate the value.
I would assume, as it is a flat, it is supposed to be 4.25% of the first value? I guess this is aplicable for properties abroad?
- Can I estimate cost of mantainance to deduct?
yes you need to declare 4.25% as income (they fixed it for me when I entered o) and yes you can deduct maintenance/renovation costs if they add up to more than the "pauschal" value
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