Time flies before Christmas, followed by calmer days until the new year picks up speed again. There are a few important things you can do now to get a good start into 2023.
Blick gives hints and also shows what needs to be started now.
filing a tax return
A lot of money can be saved with tax optimization and deductions. For example, additional payments to the pension fund or column 3a may be tax deductible. But you have to do the transfers in the old year.
December 31 is the deadline for most of these payments. But sometimes it’s the receipt of the payment that matters, for example in the pension fund. You must book by the end of calendar week 51 to ensure the reservation will be valid in the previous year.
Donations of CHF 100 or more to charities are also tax deductible. Likewise, public transport subscriptions or buying a new bike if you also need it on the way to work. It makes sense to find out what can be deducted.
It’s also a good tip to gather all the necessary documents for the tax return in advance. This saves you the tedious task of putting together last year’s documents next spring, which have long been buried under piles of paper.
pension fund purchases
Purchases made into the pension fund are 100 percent deductible from taxable income. But before you do, you should find out if there are gaps in your pension fund and the maximum amount you can buy. You can see this in the pension fund statement. You will receive this by post or email at the beginning of each year. You can also order from your pension fund at any time or download it online.
This not only lowers the tax bill next year, but also increases the pension in old age. In principle, it is always worth making additional payments to the pension fund from the age of 25. Whether there are gaps or not. Because the longer the money in the retirement account pays interest, the later the pension will be.
Also, interest income on money in the pension fund is tax-free and deposits are exempt from wealth tax. For example, a purchase is especially valuable if you receive a wage increase and therefore shift to a higher tax bracket due to tax advancement.
Assuming a marginal tax rate of 25 percent, for example, you can buy 10,000 Swiss Francs. pension funde Save 2,500 francs on taxes. Even more, depending on tax class and progress. The same is true for contributions to Column 3a.
Additional contributions to column 3a
Additional payments to column 3a are the same as pension fund purchases. They are always valuable, as they have a positive impact on both the financial situation in old age and the current tax bill.
However, there are upper limits for Column 3a. People with traditional employment and a pension fund can pay a maximum of CHF 6,883 per year. The maximum contribution for the self-employed without an official pension fund is CHF 34,416 per year. The upper limit will be slightly increased for both groups in 2023.
Schedule bridge days and check contracts
Those who take their vacation early can also make longer-term plans. You can save a lot of money by making your flight and hotel reservations during your international holidays. However, it is even more important to find out about public holidays in the employer canton. For example, if you take your vacation on Easter or Ascension Day and Pentecost, you can enjoy a longer break with fewer days off. These bridge days are usually very popular. It is therefore helpful to notify your employer of your vacation days in a timely manner.
It is useful to take a look at the contracts that continue at the end of the year. How far will they run? When are possible notice periods? This way you are prepared and can schedule or initiate the termination or change of mobile phone, health insurance and insurance contracts if necessary.
Planning property maintenance
Property owners always have something to escape from at the beginning of the year. Major maintenance work should be planned in advance. In this way, the invoices can be paid in the previous year and can be deducted from the tax in case of maintenance work. But it may also be worth paying the bill in the new calendar year. The decisive factor here is the amount of possible flat rate deduction. As a rule, this is 20 percent of the imputed rental value. If you’ve already consumed this in the old year, it’s worth paying the bills in the new year so you can deduct costs in the next year.
relocation and change of residence
If you just moved at the end of the year or plan to move in early 2023, it makes sense to compare the tax rates of the two places of residence. In principle, you are liable for tax where you registered on 31 December. It may therefore be beneficial to register for a new place of residence early or late. Depending on where you pay less tax. However, in most municipalities, you must register no later than two weeks after you move.