Hi Folk,
It’s the first time I have a joint account. We are not married, so i’m wondering how we have to declarate this account. Do we both must declarat ist and pay twice time the taxes for this account?
Thanks for advises
I’d handle it like the rental deposit account: each party declares 50%.
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Why not declaring according to the amount that you have deposited to the account?
Because you have to declare 50%, not what you put in.
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Then… we can use that to our advantage right? If I am not married, I have a reasonable accumulated wealth and my partner don’t then I can considerable reduce my wealth tax if all my cash is parked in a shared account.
Is that the same if I have a shared IBKR account? I am looking to fraud as I am not in that situation but it is just to understand the potential loophole of this.
Sure you can even give it to charity and get a deduction as well as reduce your wealth tax.
Hmm yep, in that case you are giving away the money, not the same that just parking your money in a shared account
If you give bunch of money to your (unmarried) partner, make sure to declare it (taxed at 10%+ in Zurich once you’re past the 50k lifetime limit).
Is it then considered as a gift I suposse?
When you park it in a shared account, you’ve effectively given half of it away. The one sharing the account can even withdraw the whole balance.
If you have a joint account, both your names will normally appear on the tax certificate. As a result, you can halve the total amount as at 31.12.2024.
In my case, I’m not married, but my partner and I have a joint private bank account and we each declare half of the amount as at 31.12.2024. Furthermore, on our software (Fribourg), there is a “joint account” option when you enter the tax certificate with an “eRelevé fiscal” code, which splits up all the joint relationships linked to our banking relationship.
For IBKR, if the relationship is joint, then you can effectively declare half the shares each.
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