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  #281  
Old 19.08.2011, 11:23
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Re: Gold Buying

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Just curious, what does this note on the bottom of the UBS gold quote mean?

"Tax value as per 31.12.2010: xxxx CHF"

Does this mean that gold purchased and kept has to be added to the list of assets when filling in a tax return, just like your savings statement?

What if it was purchased as a wedding gift?
You have to declare all assets you own on the last day of the year....
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  #282  
Old 19.08.2011, 11:24
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Re: Gold Buying

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it's not far off peak:

Cool, your chart has updated itself - look at the gold run now - even in CHF
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  #283  
Old 19.08.2011, 11:30
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Re: Gold Buying

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Cool, your chart has updated itself - look at the gold run now - even in CHF
yeah. the fundamental outlook for gold is pretty bullish given:

- ZIRP everywhere
- fear everywhere

it will be interesting to see what happens once IRs start heading upwards.
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  #284  
Old 19.08.2011, 11:30
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Re: Gold Buying

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You have to declare all assets you own on the last day of the year....

"should" declare
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  #285  
Old 19.08.2011, 11:31
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Re: Gold Buying

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You have to declare all assets you own on the last day of the year....
Great, but if I gave it away as a gift? It wouldn't be an asset I own then, would it?
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  #286  
Old 19.08.2011, 11:49
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Re: Gold Buying

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Great, but if I gave it away as a gift? It wouldn't be an asset I own then, would it?
.

no it wouldn't. but someone else would own it. and therefore they should declare it..
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  #287  
Old 19.08.2011, 11:57
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Re: Gold Buying

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Great, but if I gave it away as a gift? It wouldn't be an asset I own then, would it?
i'd be happy to take gold as a gift
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  #288  
Old 19.08.2011, 12:01
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Re: Gold Buying

Nice, but what if they lived in say, Thailand?

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.

no it wouldn't. but someone else would own it. and therefore they should declare it..
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  #289  
Old 19.08.2011, 12:07
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Re: Gold Buying

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Nice, but what if they lived in say, Thailand?
doesn't really matter where they live, does it?

it isn't your problem any more to declare the wealth tax. unless of course it isn't really a gift and they have to give it back to you, then you still have an asset in the form of an outstanding debt.
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  #290  
Old 19.08.2011, 12:25
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Re: Gold Buying

So the declaration is only a formality then, because someone could just say it's been given away. Strange.

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doesn't really matter where they live, does it?

it isn't your problem any more to declare the wealth tax. unless of course it isn't really a gift and they have to give it back to you, then you still have an asset in the form of an outstanding debt.
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  #291  
Old 19.08.2011, 12:57
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Re: Gold Buying

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So the declaration is only a formality then, because someone could just say it's been given away. Strange.
you could also not bother at all and just declare that you have no money in the bank instead of declaring the real amount. same principle.
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  #292  
Old 19.08.2011, 13:23
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Re: Gold Buying

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Just curious, what does this note on the bottom of the UBS gold quote mean?

"Tax value as per 31.12.2010: xxxx CHF"

Does this mean that gold purchased and kept has to be added to the list of assets when filling in a tax return, just like your savings statement?

What if it was purchased as a wedding gift?
It is merely the responsibility of Swiss and residents to declare their "Vermögen" (wealth) to the tax authorities. However, when you buy gold at the UBS counter you can pay cash so there is no record of the fact that you purchased it. (Even if the bank has a record of the transaction, if it was charged to your account, don't forget Swiss banks are (still) secret and do not pass information on the tax authorities.)
In any case the Vermögen only attracts a tax if your total assets are over a certain sum (CHF150,000 in BL for a married couple). From this you can also deduct your Hypothek (mortgage). I have usually always declared my Vermögen and have never needed to pay Vermögenssteuer (wealth tax).
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  #293  
Old 19.08.2011, 13:25
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Re: Gold Buying

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It is merely the responsibility of Swiss and residents to declare their "Vermögen" (wealth) to the tax authorities. However, when you buy gold at the UBS counter you can pay cash so there is no record of the fact that you purchased it. (Even if the bank has a record of the transaction, if it was charged to your account, don't forget Swiss banks are (still) secret and do not pass information on the tax authorities.)
In any case the Vermögen only attracts a tax if your total assets are over a certain sum (CHF150,000 in BL for a married couple). From this you can also deduct your Hypothek (mortgage). I have usually always declared my Vermögen and have never needed to pay Vermögenssteuer (wealth tax).
About "From this you can also deduct your Hypothek (mortgage)." Yes, but do not forget to declare your house as one asset......
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  #294  
Old 19.08.2011, 13:27
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Re: Gold Buying

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Nice, but what if they lived in say, Thailand?
Then I assume they fill in a Thai tax form; which may require asset declaration or not?
If you gave it away before the end of the year then it is no longer your asset to declare.
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  #295  
Old 19.08.2011, 13:34
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Re: Gold Buying

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About "From this you can also deduct your Hypothek (mortgage)." Yes, but do not forget to declare your house as one asset......
Indeedy!!
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  #296  
Old 19.08.2011, 13:40
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Re: Gold Buying

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About "From this you can also deduct your Hypothek (mortgage)." Yes, but do not forget to declare your house as one asset......
This is also a VERY good reason to declare your assets since if one day you dig up you pot of gold on the commons and buy yourself a house, what previously was hidden suddenly becomes very visible ... even to the tax man.
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  #297  
Old 19.08.2011, 14:04
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Re: Gold Buying

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yeah. the fundamental outlook for gold is pretty bullish given:

- ZIRP everywhere
- fear everywhere

it will be interesting to see what happens once IRs start heading upwards.
True, or one may see it as the outlook for paper (including fiat money) is pretty bearish.
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  #298  
Old 19.08.2011, 16:17
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Re: Gold Buying

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I think Credit Suisse offer the cheapest gold bars because they own the company that manufactures gold bars for them. Please confirm.
I think you will pay pretty much the same, they may even sell you a UBS bar of gold.
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  #299  
Old 22.08.2011, 10:59
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Re: Gold Buying

Quite funny reading this thread now, from my question back in September 2009 of where to buy real Gold.
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  #300  
Old 22.08.2011, 19:30
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Analysis: Gold shines as Swiss franc's haven appeal dims



By Jan Harvey and Jessica Mortimer
LONDON | Mon Aug 22, 2011




LONDON (Reuters) - Moves by the Swiss National Bank to curb strength of the Swiss franc will fuel investors' insatiable demand for gold, adding to its relentless rise to new record highs as confidence in the franc as a safe store of value dwindles.


http://www.englishforum.ch/newthread...newthread&f=33
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