Home ownership- What is deductible?

[sammiz]

Dear Mustachians

I know the interest payments and any upkeep & maintenance costs can be reduced from your taxes. How about notary fees? or if you build an extra room in the attic would it be tax deductible too? Is there a guide on what can be deductible? Is there an opportunity to rebalance yearly taxes with work at your home?

I want to assess cost of ownership vs rent, I know one-off expenses and unseen costs have a significant impact that is often neglected, but not sure how to estimate if there is a consequence tax help or not?

Thanks for any help!

[Giff]

@sammiz

if you build an extra room in the attic would it be tax deductible too?

No, that would be a value-increasing change. You can use it against the tax on the gain you’d make if and when you sell though.

[tarioch]

ZStB-Nr-30-3.pdf

This gives a detailed list for Zürich. It’s in German.

[babyjag]

Tax office differentiate between “werterhaltend” and “wertvermehrend” types of costs, you can find plenty of articles online

[Fliss]

@Giff

No, that would be a value-increasing change. You can use it against the tax on the gain you’d make if and when you sell though.

But, to make things more complicated if you at the same time isolate part of the attic while building the room, that part can be deducted.

[Giff]

That’s why I always just send everything and let them figure out. I was happy to find out that all my receipts from bau and hobby for building materials were accepted.