If you file a DA-1, the thing is that the custom report doesn’t take into account withholding refunds afaik. (Eg for bond funds).
The dividend report will have correct values (that’s why it takes time to get it, it’s because funds report distributions classification later).
Interesting… From that report you can’t see any within-year trades that didn’t distribute dividends. E.g. I could trade stocks w/o dividends (or between dividend periods) 10-times every day and the only way this would show up is at the end as one line under “Financial Instrument Information” (no info about trade amount, volume,…). This way they could never evaluate the 6 month holding periods etc.
But I guess it’s fine anyway, since if you would (illegally) want to hide sth, you could also just not declare an investment account at all.
It is not needed to declare trades of positions that do not pay dividends; for tax purposes only the year-end worth is relevant. With dividends it is easier to declare the transactions so dividends are automatically inserted and declared in CHF using the forex rate of the dividend day I suppose.
But the taxman may ask to see the trades anyhow. When your assets grow a bit too much he may ask for proof of how the wealth was acquired.
I have a question about ETFs (accumulating) which publish their tax reports quite late.
For example I notice the following
ishares submits around May
Xtrackers submits around July / Sep
Amundi ICAV submits around April
This invariably means that tax return processing would be delayed even if we submit the returns on time. What’s the experience like? Does tax office expects us to wait till information is published or they just delay the processing and we can submit returns?
Anyone using any of the ETF providers?
In addition - I am wondering how did Finpension provide the tax credit information for 2024 when Ishares doesn’t even publish their data until May.
Correct. They will put the taxation on standby until the information is available.
Looking at Finpension’s Global 100% strategy, there are two Ishares accumulation ETF. The information is already listed on Ictax.
I saw that Ishares have two companies in Ireland. Ishares VII and Ishares V. It seems SSAC & Ishares S&P 500 are part of different umbrella companies.
That explains how FP managed
That’s good to know
Thanks
This year is the first time I have such refunds. How do I report that? When I do the activity report for 2024, there is only the deducted withholding tax. The withholding tax refund appears in 2025 only (as a positive value under withholding tax).
The provided dividend report by ibkr is not usable for me, as it’s US specific and for example reports capital gains distributions as “dividends”, so the sum in that table is useless etc.
Do I just report individual positions and make the math myself, and provide the documents so the tax office can verify it?
When I had that I just used ictax/zhprivatetax data and manually adjusted the %age so that it would match the withholding (eg 7.123% instead of 15%)
I started reporting individual positions as of this year . If you don’t have a lot of positions , it might be best to cover outliers like acc funds etc
This is generally great, however one thing I think the interest income will be incorrect. At least on my IBKR it’s the “interest accrued” which is the actual value that matters for the tax year.
Doing it using the custom report will generate a total using interest from Dec of the previous tax year instead of the current tax year (or at least thats what I am seeing).
I normally take the value from “Interest Accrued” near the top right of the “Interest Accruals” section and add that to the dividend value to report the “income” for that account
I don’t and I declare only what was actually paid during the year. Accruals are intermediate data, with another broker or a bank account you wouldn’t even see it. Granted, it’s again this settlement schedule to blame that the interest is not paid on the month’s end, but on the third day of the next month, but it’s not my problem.
If I remember correctly, tax authorities use the payment date for dividends, not the ex-dividend date. Using the payment date also for IBKR interest sounds consistent to me.
I never understood interest accrual numbers from IBKR and have always left them out on my tax return. I might have to put in a bit of effort in a higher interest environment - maybe in a few years?
…which I deliberately ignore.
Example: Take a stock like McCormick (US5797802064.
Ex-dividend date is at the end of the year, whereas ICTax only recognises the dividend for the following year, at the pay date.
They company has been making four quarterly dividend payouts for many years, all for the same amount within a calendar year - and then upping it the following year. But ex-div dates for the January dividend payment have been at the end of the preceding year