Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #101  
Old 04.01.2019, 21:24
st2lemans's Avatar
Forum Legend
 
Join Date: Dec 2010
Location: Lugano
Posts: 32,919
Groaned at 2,696 Times in 1,905 Posts
Thanked 40,117 Times in 18,917 Posts
st2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond repute
Re: Wealth Tax in Switzerland - seeking clarification, information

Quote:
View Post
I am obviously a lot more intelligent than you.

I am the millionaire. And you are the one complaining. Your fault for being stupid and lazy.
Not poor, stupid, nor lazy.

Plus, I have a life.

Try getting one sometime.

Also, nobody is more intelligent than me.

Tom
Reply With Quote
This user would like to thank st2lemans for this useful post:
This user groans at st2lemans for this post:
  #102  
Old 04.01.2019, 21:29
st2lemans's Avatar
Forum Legend
 
Join Date: Dec 2010
Location: Lugano
Posts: 32,919
Groaned at 2,696 Times in 1,905 Posts
Thanked 40,117 Times in 18,917 Posts
st2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond repute
Re: Wealth Tax in Switzerland - seeking clarification, information

Quote:
View Post
Us locals in CH can wait up to 24 months for our annual tax returns to be settled. I currently have 2016 and 2017 unclosed, and about to prepare 2018!
24 months? Try 5 years!

They finally settled my 2013 return last summer!

Tom
Reply With Quote
The following 3 users would like to thank st2lemans for this useful post:
  #103  
Old 04.01.2019, 21:46
Forum Veteran
 
Join Date: Jan 2016
Location: Lugano
Posts: 1,347
Groaned at 24 Times in 19 Posts
Thanked 1,630 Times in 752 Posts
LuganoPirate has a reputation beyond reputeLuganoPirate has a reputation beyond reputeLuganoPirate has a reputation beyond reputeLuganoPirate has a reputation beyond repute
Re: Wealth Tax in Switzerland - seeking clarification, information

Quote:
View Post
24 months? Try 5 years!

They finally settled my 2013 return last summer!

Tom
This is not me trying oneupmanship Tom, but ours took over 9 years to be settled, then appeals every year. Finally, last year 2017, they accepted our tax lawyers return so no appeal needed.
Reply With Quote
The following 2 users would like to thank LuganoPirate for this useful post:
  #104  
Old 04.01.2019, 22:27
Forum Veteran
 
Join Date: Feb 2012
Location: CH
Posts: 2,300
Groaned at 87 Times in 73 Posts
Thanked 2,002 Times in 1,123 Posts
ivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond repute
Re: Wealth Tax in Switzerland - seeking clarification, information

Quote:
View Post
I am obviously a lot more intelligent than you.
Why is that obvious? What's your mensa number? Money alone doesn't prove intelligence, there's plenty of dumb rich f***s around here

Quote:
I am the millionaire.
And this is a country of millionaires, 1M is not even enough to buy a house here, maybe only some scrappy condo or something in the middle of nowhere. Come back when you're VHNWI or better
Reply With Quote
The following 3 users would like to thank ivank for this useful post:
This user groans at ivank for this post:
  #105  
Old 05.01.2019, 09:58
Forum Veteran
 
Join Date: Jan 2016
Location: Lugano
Posts: 1,347
Groaned at 24 Times in 19 Posts
Thanked 1,630 Times in 752 Posts
LuganoPirate has a reputation beyond reputeLuganoPirate has a reputation beyond reputeLuganoPirate has a reputation beyond reputeLuganoPirate has a reputation beyond repute
Re: Wealth Tax in Switzerland - seeking clarification, information

Millionaire or not, it's the quality of life and what you do with it that counts. Better to be poor and have lots of friends than rich and lonely!
Reply With Quote
This user would like to thank LuganoPirate for this useful post:
This user groans at LuganoPirate for this post:
  #106  
Old 05.01.2019, 10:16
roegner's Avatar
Moderately Dutch
 
Join Date: May 2011
Location: Zurich
Posts: 12,253
Groaned at 398 Times in 335 Posts
Thanked 16,239 Times in 7,445 Posts
roegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond repute
Re: Wealth Tax in Switzerland - seeking clarification, information

Quote:
View Post
You are the one who is angry, spiteful and rude. With such a personality it is doubtful that anyone would want to have you as a friend. I bet you smoke and you call that quality of life.
Quote:
View Post
If i am more wealthy than you because as a child i worked and wisely invested my earnings then i am obviously more intelligent than you.
Get off your high horse and stop spouting nonsense. You have no clue how wealthy people are or intelligent......

Shouting that repeatedly only gives me the impression you are neither
Reply With Quote
The following 2 users would like to thank roegner for this useful post:
  #107  
Old 05.01.2019, 10:18
robBob's Avatar
Forum Legend
 
Join Date: Mar 2012
Location: Zurich
Posts: 3,365
Groaned at 67 Times in 52 Posts
Thanked 3,378 Times in 1,794 Posts
robBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond repute
Re: Wealth Tax in Switzerland - seeking clarification, information

Quote:
View Post
You don't pay Swiss wealth tax on assets that are not physically in Switzerland.

Your total wealth is, however, used yo calculate your wealth tax bracket for the wealth that you DO have in Switzerland.

So, unless you move all of your wealth here, there is probably nothing to pay.

Tom

Not quite true. Liquid assets are taxable.
Reply With Quote
This user would like to thank robBob for this useful post:
  #108  
Old 05.01.2019, 10:47
Mullhollander's Avatar
Forum Legend
 
Join Date: Dec 2012
Location: Aargau
Posts: 2,785
Groaned at 11 Times in 10 Posts
Thanked 3,998 Times in 1,736 Posts
Mullhollander has a reputation beyond reputeMullhollander has a reputation beyond reputeMullhollander has a reputation beyond reputeMullhollander has a reputation beyond reputeMullhollander has a reputation beyond reputeMullhollander has a reputation beyond repute
Re: Wealth Tax in Switzerland - seeking clarification, information

This is a simple overview of the calculation of assets subject to the cantonal wealth tax:

All assets
- Debts
----------
Net assets
- foreign real estate *
- pension assets
- household assets **
---------------------
Taxable assets before exclusion
- Cantonal asset exclusion amount
---------------------
Taxable assets after exclusion

* - value of foreign real estate increases the wealth tax rate but is not included in taxable assets
** - household assets include whatever is in the household (but trying to classify the Rembrandt hanging in the kitchen as a household asset doesn't work).
Reply With Quote
  #109  
Old 05.01.2019, 11:11
Forum Veteran
 
Join Date: Feb 2012
Location: CH
Posts: 2,300
Groaned at 87 Times in 73 Posts
Thanked 2,002 Times in 1,123 Posts
ivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond repute
Re: Wealth Tax in Switzerland - seeking clarification, information

Quote:
View Post
If i am more wealthy than you because as a child i worked and wisely invested my earnings then i am obviously more intelligent than you.
How do you know he's not secretly hoarding some 10-100M+ or even a billionaire? Ergo, by your measure, much smarter than you? You can never be sure in this country

Last edited by ivank; 05.01.2019 at 11:32.
Reply With Quote
  #110  
Old 05.01.2019, 11:13
robBob's Avatar
Forum Legend
 
Join Date: Mar 2012
Location: Zurich
Posts: 3,365
Groaned at 67 Times in 52 Posts
Thanked 3,378 Times in 1,794 Posts
robBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond repute
Re: Wealth Tax in Switzerland - seeking clarification, information

Quote:
View Post
How do you know he's not secretly a billionaire? You can never be sure in this country

Actually I'm working on my second now. Given up on my first.
Reply With Quote
  #111  
Old 05.01.2019, 11:42
Banned
 
Join Date: Oct 2007
Location: CH
Posts: 10,970
Groaned at 2,032 Times in 1,120 Posts
Thanked 5,139 Times in 3,246 Posts
omtatsat omtatsat omtatsat omtatsat omtatsat
Re: Wealth Tax

Heres the wealth tax by canton in 2016


https://www.expatica.com/ch/finance/...-taxes-101589/

Name:  1348924.jpg
Views: 5040
Size:  99.6 KB
Reply With Quote
The following 7 users would like to thank omtatsat for this useful post:
  #112  
Old 05.01.2019, 17:34
Banned
 
Join Date: Oct 2007
Location: CH
Posts: 10,970
Groaned at 2,032 Times in 1,120 Posts
Thanked 5,139 Times in 3,246 Posts
omtatsat omtatsat omtatsat omtatsat omtatsat
Re: Wealth Tax

Quote:
View Post
Exactly.

I dont mind paying tax to maintain schools , libraries, etc, but i have already paid tax on my savings when i earnt them and the tax in canton Vaud is rediculous. I actually reside in cantons Zug and Schwyz when I visit and they are the cantons that i already support financially and with voluntary work. I was planning on commuting.

The problem is that the only university course to learn french is in Lausanne. It is a very good language school.

The vaud tax calculation website actually gave me a deduction. According to the table my payment would actually be higher.
But your registered place of living for tax purposes would be Zug not Lausanne?

And to make matters worse if you are considered a non resident in Australia for tax purposes then the tax rate is a minimum of 30%!

Last edited by omtatsat; 05.01.2019 at 17:53.
Reply With Quote
This user would like to thank omtatsat for this useful post:
  #113  
Old 05.01.2019, 18:16
Banned
 
Join Date: Oct 2007
Location: CH
Posts: 10,970
Groaned at 2,032 Times in 1,120 Posts
Thanked 5,139 Times in 3,246 Posts
omtatsat omtatsat omtatsat omtatsat omtatsat
Re: Wealth Tax

Quote:
View Post
There is no wealth tax in Australia and the interest rate is so low that i hardly have any income from interest.

I would only be considered a foreign resident if i didnt return to Australia within 5 years. Ie as long as i have ties to Australian then i am considered a permanent resident of Australia. Family, friends, bank account, visits etc.

I basically just want to avoid the Australian sun.
Thats not correct what you say about being away for more than 5 years. I have friends ,family, a bank account and i am considered a non resident for tax purposes.
https://www.ato.gov.au/Individuals/I...sidency-tests/

Last edited by omtatsat; 05.01.2019 at 18:26.
Reply With Quote
  #114  
Old 05.01.2019, 19:04
Banned
 
Join Date: Oct 2007
Location: CH
Posts: 10,970
Groaned at 2,032 Times in 1,120 Posts
Thanked 5,139 Times in 3,246 Posts
omtatsat omtatsat omtatsat omtatsat omtatsat
Re: Wealth Tax

Quote:
View Post
Are you Australian ?

Do you have a job in Switzerland?

I have a permanent address in Australia. A room with friends. And no job or family in Switzerland. Everything that i have is in Australia.

Born Australia but living in CH for 20 years. Considered a non resident for Australian tax purposes. Permanent address is in Switzerland. Your case is different then. But anyhow you wont have to pay tax here on what you have been already taxed on in Australia. Tax treaty between CH and Australia prevents that. Still one has to declare it on the CH tax return under assets and it will determine your tax "rate ".
Reply With Quote
This user would like to thank omtatsat for this useful post:
  #115  
Old 05.01.2019, 20:10
Banned
 
Join Date: Oct 2007
Location: CH
Posts: 10,970
Groaned at 2,032 Times in 1,120 Posts
Thanked 5,139 Times in 3,246 Posts
omtatsat omtatsat omtatsat omtatsat omtatsat
Re: Wealth Tax in Switzerland - seeking clarification, information

Quote:
View Post
Thanks,

Yes

I dont know where I will end up. I am looking forward to visiting Finland and Iceland.

And New Zealand.

And Canada.

And Rottnest, Fraser Island , ...
In 2 days 3 red blobs. That must be a record on EF. Or am I going colour blind?
Reply With Quote
This user would like to thank omtatsat for this useful post:
  #116  
Old 06.01.2019, 12:00
eyebeebe's Avatar
Forum Veteran
 
Join Date: May 2009
Location: Pfäffikon SZ
Posts: 2,467
Groaned at 26 Times in 25 Posts
Thanked 3,373 Times in 1,433 Posts
eyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond repute
Re: Wealth Tax in Switzerland - seeking clarification, information

What you are missing here is that every government of every country across the world has different ways of taxing the population in order to fund their expenditure (ignoring borrowing/generating surpluses).

Some countries have crazy high rates of income tax, some have zero. Some have high or low rates of corporation tax, VAT, import/export duties. Some tax death, some tax inheritance, some tax neither. And so it goes on. The reasons for the differences are historical, cultural, systematic, ideological, pragmatic etc

Switzerland (particularly the German speaking part) overall has a comparatively low tax burden placed on its population. Of particular note for investors is that private individuals are generally not subject to capital gains tax (excluding real estate), as they are in a lot of the world. The flip side of this is that once you have attained a certain level of wealth, you are expected to pay a tiny amount of it as a tax.

This may not seem fair if you are used to another system and have accumulated your wealth in a system with capital gains tax, but it is a system that seems to be working very well for Switzerland and no amount of complaining that it isn't fair is going to make a change just for you.

As for whether as a student you do/should be paying tax, it seems reasonable that those starting out in life and investing time in themselves to become productive and hopefully paying more tax than they otherwise would have done in the long run through being better qualified, should be given a break. IMO those who have made their way in life and are now studying for lifestyle reasons shouldn't be entitled to the same breaks, otherwise their would be a burgeoning industry of sham educational facilities offering tax dodges to wealthy retirees. And I say that not as a "jealous idiot", but rather as someone who lives in a low tax location and would surely benefit in retirement from such a scheme.
Reply With Quote
The following 10 users would like to thank eyebeebe for this useful post:
  #117  
Old 06.01.2019, 13:09
Murloc's Avatar
Forum Veteran
 
Join Date: Aug 2010
Location: Bern
Posts: 550
Groaned at 5 Times in 5 Posts
Thanked 600 Times in 301 Posts
Murloc has an excellent reputationMurloc has an excellent reputationMurloc has an excellent reputationMurloc has an excellent reputation
Re: Wealth Tax

Quote:
View Post
I am now wondering if "gainful employment" is going to include voluntary work and somehow have an implication.
where is the "gainful" in voluntary work?
Reply With Quote
This user would like to thank Murloc for this useful post:
  #118  
Old 06.01.2019, 13:35
DUTCH's Avatar
Senior Member
 
Join Date: Oct 2006
Location: Wollerau
Posts: 417
Groaned at 7 Times in 7 Posts
Thanked 690 Times in 255 Posts
DUTCH has a reputation beyond reputeDUTCH has a reputation beyond reputeDUTCH has a reputation beyond reputeDUTCH has a reputation beyond repute
Re: Wealth Tax in Switzerland - seeking clarification, information

For a person who is not working but labels other as lazy and exhorts them to get off their backside.

For a person who wants to study french in Lausanne but strongly advises others to study german in Germany.

For a person who claims to be rich and super intelligent but cannot figure out wealth tax situation in CH.

OP, you are sitting on a mighty high horse.
Reply With Quote
The following 4 users would like to thank DUTCH for this useful post:
  #119  
Old 06.01.2019, 15:24
st2lemans's Avatar
Forum Legend
 
Join Date: Dec 2010
Location: Lugano
Posts: 32,919
Groaned at 2,696 Times in 1,905 Posts
Thanked 40,117 Times in 18,917 Posts
st2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond repute
Re: Wealth Tax in Switzerland - seeking clarification, information

Quote:
View Post
I dont know where I will end up. I am looking forward to visiting Finland and Iceland.

And New Zealand.

And Canada.

And Rottnest, Fraser Island , ...
North Sentinel seems to be just your speed!

Tom
Reply With Quote
  #120  
Old 06.01.2019, 16:33
Forum Veteran
 
Join Date: Feb 2008
Location: Zurich
Posts: 1,020
Groaned at 6 Times in 6 Posts
Thanked 345 Times in 262 Posts
bill_door has an excellent reputationbill_door has an excellent reputationbill_door has an excellent reputationbill_door has an excellent reputation
Re: Wealth Tax in Switzerland - seeking clarification, information

Quote:
View Post
OP, you are sitting on a mighty high horse.
it's not the OP! thread has been high-jacked with a bit of necroposting!
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Seeking information from the more tax savvy inclined kiwi0041 Finance/banking/taxation 0 25.01.2014 22:53
new arrival seeking tax clarification nickjbutt Finance/banking/taxation 0 13.11.2012 13:39
Offshore Pension Funds included in Wealth Tax for Swiss Tax Purposes? Basel Gooner Finance/banking/taxation 2 29.03.2012 18:02
2nd Pillar- Seeking clarification checkoutmails Finance/banking/taxation 2 28.11.2010 14:45
Property/Wealth tax in canton Zug oneone Housing in general 8 30.05.2010 15:29


All times are GMT +2. The time now is 19:46.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0