You can prepare your tax return even more efficiently with UBS Digital Banking. These tips will give you an overview of tax-related data and statements as well as the savings potential permitted by law.
Store your salary statement, receipts or insurance expenses in UBS Safe
Thanks to UBS Safe, you can digitally store relevant documents in one place throughout the year. Take a photo of your documents and receipts with the Safe app or store your digital documents directly in your “Taxes” folder.
Receive and access all relevant UBS bank statements directly in UBS Safe
Activate UBS Safe in e-banking. We’ll automatically secure certificates, asset statements and other tax statements for you.
Use the search function to quickly and easily find documents, e.g. by typing in “certificate.”
Save on provisional taxes throughout the year with a standing order
Set aside a fraction of your taxes every month with a standing order. That way the desired amount is available when you need it. You can set up a standing order online in just a few steps.
Automatically pay into pillar 3a
Every year, there is a legally specified maximum amount that you can deduct from your taxes out of the sum paid into your pillar 3a account.
The easiest way to make a payment is via “Payments > Payment to Fisca account” in E-Banking. The maximum permitted amount will then be distributed over the year in monthly or semi-annual payments – and you won’t need to worry about a thing.
Savings tips for the pillar 3a account
It’s worth making payments into pillar 3. You can save on taxes depending on where you live and the amount paid in.
As soon as you have accumulated approximately CHF 50,000 in your retirement savings account, you should open an additional account. This will allow you to make staggered withdrawals later in life and save on taxes again, depending on the canton.
If you invest your retirement assets in Vitainvest investment funds, you can benefit from developments on the financial markets. As a result, you will enjoy higher earnings potential until your balance is paid out.
Easily recognize tax-relevant expenses
Thanks to categories provided in UBS Digital Banking, you'll be able to easily and quickly recognize tax-relevant expenses. Once you’re set up in e-banking, you can generate a clear statement that you can use when filing your taxes.
Activate the Personal Financial Assistant under “Budget.”
Tip: Use “Collective categorization” to allocate several non-categorized expenses to the correct group, all at the same time.
These expenses are recognized by the PFA and adopted into your tax return:
Contributions to non-profit-making organizations whose headquarters are based in Switzerland can be deducted from direct federal taxation.
If your place of work is not in the immediate vicinity of your place of residence, you can deduct your travel costs as work-related expenses.
Double-income earners and single parents can deduct childcare costs or social security contributions. The deductible amount is based on the actual childcare costs. A maximum deductible amount is generally set.
Payments into your pillar 3a account can be deducted from your income. There is a set maximum annual contribution into pillar 3a: for 2019 it is 6,826 francs for employed persons with a pension fund, and 20 percent of net income from employment subject to AHV contributions for employed workers without a pension fund (up to a maximum of 34,128 francs).
3a assets and the returns earned are not subject to taxation during the savings phase.
The voluntary purchase of pension benefits is deductible from your taxable income.
Health care costs can be deducted if they have not been reimbursed by your health insurance fund. This also applies to the cost of dental care.
Important: the Confederation and most cantons only allow deductions for health care costs if the expenses incurred represent more than five percent of net income.
Advanced training without professional advancement and retraining for a related occupation may be deducted in most cantons. Some cantons even permit the deduction of advanced training costs that allow professional advancement within the same sector.
Good to know: As of January 1, 2016, a distinction will no longer be made between training, advanced training and retraining as far as direct federal taxation is concerned. The Confederation will allow deductions of up to 12,000 francs for professionally-related training.
If an employee has to remain in his place of work during the working week, the extra costs incurred for staying overnight are tax-deductible. The single room tariffs usually applied in the location in question are taken as the basis for the calculation.
Maintenance and administration costs for real estate properties can be deducted in full if they preserve the value of the property. Renovation work that increases the value of the property is not deductible.
For private residential property, owners can choose between a deduction in the form of a flat fee or the actual maintenance costs.
Debt interest may be deducted, including any commission due in the case of early repayment. The maximum deductible amount is the investment income including imputed rental value, plus 50,000 francs.
Because the deduction amount may be subject to changes, it’s worthwhile to check its legitimacy yourself.