Filing your tax form.
The arrival of the loathed tax form is imminent. The inevitable panic to find the relevant documents and complete the form will soon be upon you. Here is some advice to help the procedure run smoothly--particularly if you are a foreign resident in Switzerland with a C or B permit, are earning more than CHF 120,000, or are a property owner.
Get organised
Come 'tax time', most of us desperately search through piles of papers, looking for the necessary documents. If this sounds like you, we recommend arming yourself early in the year with an A4 file that has alphabetical dividers. Well-organised records make it simpler to complete the tax form, ensure that deductions are not missed, and may thus reduce your tax bill.
The tax form
The tax form arrives around February, with a period of 30 days to submit your information (an extension of the deadline may be possible). We recommend using the electronic version of the tax form, which can be ordered on a CD or downloaded from your Cantonal website. If a taxpayer fails to file a tax return, the tax due will be estimated and invoiced by the authorities. If this happens, the taxpayer automatically relinquishes the right to challenge the final amount.
The documents
A simple way of understanding the tax form is to divide it into two parts: income and wealth. Both parts have earnings and deductions, and are taxable. Most documents for tax purposes arrive in January. However, if you own shares or bonds, the dividends are paid throughout the year. Banks will send you receipts following the dividend payout, which should be filed. If you have a particularly complicated portfolio, the bank can provide a summary on 31st December, which details dividends and your account balance. Discuss this with your bank, as charges may be applicable.
Income
Your salary statement for the previous year is usually provided by your employer in January. You are also required to provide details of other income, including that of your spouse or any part-time work. Details of income earned outside Switzerland, investment dividends, alimony, undistributed inheritance, capital payments from pension funds and lottery profits should be included. Imputed rental income is a Cantonal estimate of how much rent a homeowner would have to pay for...
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