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Sep 03, 2016

Tax Example: Rent


Non-resident couple´s joint monthly rental income2 €1,500 €6,000 €12,000
Annual Rental Income 18,000 72,000 144,000
Less Costs3 (2,700) (10,800) (21,600)
= Taxable Income 15,300 61,200 122,400
Acquisition Costs 224,248 1,379,721 2,990,574
Taxable Value for Real Property Tax 224,248 224,248 2,990,574
Real Property Tax 224 1,380 2,991
Taxable Value for Net Wealth Tax4 276,495 1,105,941 2,203,876
Net Wealth Tax (Geneva) 1,658 9,566 20,633
Taxable Income for Cantonal/ Communal Taxes (Geneva) 15,300 61,200 122,400
Income Tax (Geneva) 5,126 20,500 40,854
Taxable Income for Direct Federal Tax5 15,076 59,816 118,961
Income Tax (Federal) 1,734 6,880 13,681
Annual Income Tax Due €8,741 €38,326 €78,158
Tax Due as % of Gross Income 48.56% 53.23% 54.48%
Thanks to:

DISCLAIMER: The information contained above is marketing material only and is not written tax advice directed at the particular facts and circumstances of any person and should not be relied upon. We encourage you to discuss your particular situation with us or an independent tax advisor. This information was last updated on October 3, 2006.


Notes


1 Exchange rate used: €1 = CHF3.097.

2 The property is jointly owned by husband and wife.

3 Income-generating expenses are estimated to be around 15% of gross income.

4 The annual gross rental income is therefore capitalized with 6.51%. The capitalization rate is determined by the Geneva State Council annually.

5 The Real Property Tax can be deducted for the Direct Federal Tax. In these cases, the Real Property Tax was deducted from the respective net income.

  





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