Deposit maximum amounts
One of the most important tax-saving tips is about pillar 3a: Most people know this tip, but still far too few use it. It is about the private provision in the above-mentioned pillar, because the payment here can be claimed for tax purposes. Employed persons should register the reference date? 18. December? note, by then the maximum possible amount of CHF 6,826 should have been paid in.
Only then is the amount still deductible for the current year 2020. However, if you pay into an existing account at the counter, you can do so until December 30th. For the self-employed, they can count up to 20 percent of their net income as a maximum amount if they do not belong to a pension fund. A maximum of CHF 34,128 may be credited.
Use the 2nd pillar as well
Payments into the 2nd pillar can also be deducted from tax. It is about occupational pension provision. In individual cases, it can make sense to make voluntary additional payments that go into the pension fund. From a tax point of view, this is always worthwhile when earnings are high in the relevant years. This usually applies in the last few years before retirement.
If you want to draw the capital from the second or third pillar of your pension, you should take into account that this does not significantly increase the tax burden. A tip: With a staggered withdrawal of pension payments, these can be spread over several tax periods, which reduces the tax burden in the individual period.
Tax tips outside of the pension plan
When it comes to saving taxes, the focus is not only on retirement provision. Other tips are also important, which we do not want to withhold from you at this point:
- dentist
The medical costs that are not billed to the health insurance company may be assessed for tax purposes and reduce the taxable income. For this, however, the costs must exceed five percent of the adjusted income. Usually this is hardly the case for illness and accident costs. But if you have, for example, completed a comprehensive dental treatment or bought new glasses, it can be worthwhile to add the costs.
- donate
Many people donated to aid organizations in 2020, also because of the corona pandemic. Donation expenses can be deducted from tax if they were used for charitable purposes. However, they must add up to at least 100 francs per year and can only be offset against a maximum of 20 percent of net income. Anyone who wants to make donations must have the proof of donation to hand.
- Debt interest
What many do not know: Debt interest can also be deducted from tax on personal loans. It is important that the interest components are deducted here, because the actual repayment amount is not tax deductible. The interest portion that accrues on the loan amount is accounted for by federal tax on the one hand and income tax on the other.
- Investments
House or apartment owners can be happy because they can also deduct renovation costs. You usually have the choice between a lump sum or deducting the actual costs. With a lump sum, a maximum of ten percent of the imputed rental value can usually be applied. It therefore makes sense to work out in advance which variant is the better choice.
