Tax deductions - Veltica Finance - Swiss Fiduciary

Would you like to pay less tax? Here are 8 simple but essential tips.

The first tip / Respecting deadlines:  quite simply, submit your tax return on time. For most cantons, the deadline is March. Since 2016, the canton of Vaud has charged each taxpayer CHF 50 for a late return. This can be extended, but a request must be made in advance.

Your commute: from home to work is a deductible expense. As a general rule, the tax authorities recognize expenses up to the number of kilometers separating your place of residence from your place of work.

Meals: by justifying the fact that you can't get home at noon, you can claim a flat-rate deduction of CHF 13.33 per day worked, i.e. a maximum of 240 days for a total of CHF 3,200.

Business expenses: without justification, employees may deduct a lump sum equivalent to 3% of their salary.

The 3rd pillar, private pension provision: contributing to the 3rd pillar reduces your tax burden. For both 2017 and 2018, a ceiling of CHF 6,768 has been set for employees affiliated to a pension fund. The deduction is governed by cantonal laws and varies from canton to canton.

Your medical expenses: if expenses exceed 5% of your net income. Deductions for special disabilities are also deductible. However, as with the 3rd pillar, these amounts are established by cantonal laws and vary according to the geographical location of your tax domicile.

Advanced training: you want to perfect your skills in your professional field or learn a new language. In some cases, the cost of further training is tax-deductible. Unfortunately, in most cantons, training costs to acquire a new job are not tax-deductible.

Our final tip: if in doubt, please contact us. The team at Veltica Finance - Fiduciaire Suisse will be delighted to answer any questions you may have.