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Old 27.02.2007, 14:35
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Tax break on contribution to pillar 3a retirement pension

Hi

I am soon moving to Switzerland (Basel). and I am getting curious about the taxation thing.

I am initially going to be in Basel only to the end of 2007. So 10.5 months in total.

I am married and have 1 child.

I am an IT contractor employed via an umbrella company.

I used the https://calculators.credit-suisse.com/p/d/calc calculator to calculate a total tax/social cost burden of around 29%.

I then tried to include a 50.000CHF payment to 3a pillar pension scheme.
the calculator said I would save 18.785 CHF by contributing.

I then calculated what tax I would have to pay when I take out the 50.000CHF at the age of 34.
It calculated that I would have to pay 1.830 CHF in taxes when taking out the pension savings.

This wuold give me a net tax saving of about 17.000 CHF that I would have extra when leaving Basel at the end of the year.

Does this sound right to you experts?
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