Travel to work, insurance premiums or renovation costs: Many people in Switzerland are uncertain about what and how much can be deducted from their taxable income. Swiss Life has the answers and provides valuable assistance for your tax return.
Would you like to complete your tax return without the assistance of a tax advisor but save as much tax as possible at the same time? Swiss Life provides you with the information you need and shows you what and how much you can deduct from your taxable income.
Please note: The rules may differ from canton to canton. Please contact your tax office in case of doubt. For example, in some cantons, including Zurich, Aargau and Geneva, you can complete your tax return directly online. The software even indicates possible flat-rate deductions.
But regardless of whether or not you use the software, it’s helpful to know which costs you can deduct from tax.
Which costs are tax-deductible?
Tax savings in your job
- Travel costs between home and place of work
- Outside catering
- Other work-related expenses
- Training costs
Tax savings with insurance and pensions
- Insurance premiums such as health and accident insurance and savings interest
- Payments into pillar 3a
- Buy-ins to the 2nd pillar
- Asset management costs
- AHV contributions after early retirement
Tax savings for property owners
- Investments with the objective of saving energy
- Investments with the objective of protecting the environment
- Maintenance and renovation work
- Underusage deduction
Tip: If the energy-saving and environmentally-friendly investment costs exceed your taxable income in the year in which the work was done, they can be carried over to the following year and deducted over a total of three tax periods.
Other possible deductions
- Donations to charitable organisations
- Third-party care by daytime families or daycare centres
- Maintenance payments to children
- Child deduction (up to the age of 18/ in initial education/training)
- Health costs paid yourself and exceeding a given percentage of your income (varies by canton)
Interest on borrowings
- Mortgages and private loans
- Car loan interest is deductible but lease payments are not
- Social security deduction for children and supported persons
Alimony and maintenance contributions
- For children or ex-partners
How much tax must I pay?
The amount of your tax bill depends on several factors:
- Marital status
- Religious affiliation
- Number of children
- Place of residence
Sources: Unsplash, Jonathan Francisca