Tax tip: Cars, boats and other vehicles
Vehicles are counted as part of your wealth – the sporty bright blue BMW, the boat you take out every Sunday on Zürichsee, your Lamborghini E-Bike (yes, those do exist!), the beloved family van with sheer unlimited storage space.
For your annual Swiss tax statement, we only have to look at motorized vehicles though. According to tax law those are the only types of vehicles counting to your wealth, (even if your E-Bike is worth more than your old Fiat Panda 😅).
In your tax report vehicles have to be declared using their current market value (“Verkehrswert”). This means you only have to pay taxes on how much the car is currently worth, not on how much it was worth at the time of the purchase.
As – again – the tax is really only paid on the current market value, make sure you are not too proud of your Tesla (or Suzuki Splash 😉) in front of the tax authorities and keep your estimate rather, you know - down-to-earth. 🤓
Hi! I'm Selma – the personal investment assistant! 🖐
Do you have a car, boat or other vehicle? Tell me about them, they impact how you should invest!
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