Tax tip: Wealth management fees

 
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Great news for everyone who already invested their money in cash, bonds, funds, via a broker or using Selma! Administrative costs and management fees for your investments can be deducted from your taxes!

In the field “Kosten für die Verwaltung des beweglichen Privatvermögens” (loosely translated this means: "Costs of managing liquid privat assets") you can enter costs, charges and fees connected to managing your money.

 

No matter who is taking charge of managing your wealth (the bank, Selma, etc.), you can deduct the costs from the tax. In some “Kantone” there is a flat sum of around 0,2 - 0,4 promille, in others you have to effectively calculated the costs.

As mentioned, Selma as your wealth manager (or investment assistant) also falls into this category. The Selma fee is is made up of many small (partly unavoidable) charges that arise when your money gets invested. You can see these in detail on your transactions list.

Depot or transaction fees which are listed as tax deductible by law are already included in your Selma fee.

Additionally Selma helps in declaring the profit you made for your tax statement. You will receive a yearly tax report regarding your investments at Selma for free.

 

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