Wow. Thanks for your very comprehensive explanation. I will try to inform myself of these things over time, especially in Italy, a place where I will probably return to live if I ever have to leave Switzerland. Now I will deposit the 6883 chf in the next few days to re-enter in 2021. I was thinking of a personalized distribution like this, what do you think? Maybe the TER a little too high …
That’s not possible anymore, though, is it? To be able to deduct 3a, it’s necessary to switch to ordinary tax assessment and then you need to calculate the ordinary tax and that rate depends on the town.
they told me that I will continue to have the withholding tax but I will be able to switch to the ordinary tax from March.
Yes, tax will still be deducted from your salary. These payments will then be applied to your ordinary tax bill. If your tax bill is lower, you’ll get a refund. If your tax bill is higher, you have to pay the difference.
Ordinary tax assessment is always for a full tax year (as long as you stay in Switzerland). Filing for ordinary tax assessment before the end of March 2022 will result in ordinary tax assessment of the full year 2021 (and following years).
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I was simplifying 
I’d say it‘s possible just as before. You uses to and still have to file some some sort of a tax return - the scope and details of which seem to have changed (requirement to file full return). And yes, that may change the actual amount of tax owed.
Put differently, while the principle remains the same (deduction from income), the filing requirements may be about to change - and depending on your actual filing, the amount of tax owed might, too.
When I filed only a supplementary return for correction (as someone taxed at source) years ago, they made indicate my capital income and wealth - so it changed the tax figures anyways.
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Here I am. I have finally paid the single amount of my first pillar 3a. (yeahhh LOL) The funds were deposited on the 28th, but they appeared on the 29th, finpension now informs me that they will be invested starting from the second working day of the bank which by now I assume will be January 4th 2022, correct? Reading various articles I saw that it might already be appropriate to open a second portfolio as early as January in which to pay the money to reduce the progressive growth of rates over time, can you confirm? Do you know how many accounts can be opened in Ticino or in the cantons of Vaud and Geneva (I should be moving there in 2 years)?
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You can open up to 5.
Target to open 1 by year until 5 then accumulate on the existing.
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With finpension. And as many as you want altogether. Although it doesn’t make much sense to open more than 10 3a accounts.
I read that in theory 5 accounts could be enough, do you suggest more? Calling around, no one has the correct answer to the question “how many 3a accounts can be opened in Ticino?”. However, from an unofficial source (an employee who may already do the same), I received the answer that there is no limit, even 100, even if it would not make sense.
As you can always merge 3a accounts, but splitting is complicated, it makes sense to open as many accounts in parallel as you can. But as finpension has better conditions than any other 3a provider, it doesn’t make much sense to open an account with worse conditions just to have more accounts.
Theoretically if you work 5 years more after a regular retirement age, you can withdraw 3a 5 years before and 5 after it, which should decrease taxes. But it is kind of opposite of what people trying to achieve here.
Just complicated - or not allowed?
In practice, no one will care about how many you open. And I’m not aware of a legal limit either.
Tax authorities might care however later, when you withdraw and close a pillar 3a account every year, 10 years in a row.
Possible if you use 3a money for a mortgage, therefore complicated.
This statement really surprises me, because, unlike for example forgotten 2nd pillar money, there is absolutely nothing wrong about this practice.
You might be punished if you pay in 3a and withdraw in less than 3 years or so: this is typically applies to 2nd pillar, but I think for 3a it is not the case.
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Today I tried to see if finpension allowed me to make the first deposit for the 3a of 2022, but it does not allow me to pay because it appears that I have already paid the maximum amount in 2022, but in reality I paid it on 28/12/2021 and has been available since 29/12/2021 (even if not yet invested, this will take place on Tuesday due to bank timing). How is this possible?
I would say they’re probably not working (except for emergencies) on a Sunday and the system will reset on Monday. Only time will tell, can you check back on Monday?
Even today it continues to give me the same problem. I wrote an email, I will wait hoping that there are no problems.
Have you tried just typing 0? (works for me) I assume you have not paid in anything in 2022, yet.
No, first and only bank transfer made on 28.12.2021.
I’ll try from PC, but in apps it doesn’t allow me to change value because it says I paid the maximum.
More precisely, the tax administration may consider staggered withdrawals as irrelevant for tax purposes after your retirement and tax you as if the full amount of all accounts had been withdrawn at once.
There are opinions that the entirety of pension benefits are due at the time of retirement, hence should be taxed all at once.
VT dropped 3% this week, and rebalance will happen on Tuesday.
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