Adjusting Tax Deductions and Rates to Cold Progression
Published: Tuesday, Sep 5th 2023, 09:40
Aktualisiert am: Freitag, 13. Oktober 2023, 14:12
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The Swiss Federal Tax Administration announced on Tuesday that the deductions for the direct federal tax will increase from the 2024 tax year. This includes an increase of the child deduction and the support deduction to 6700 Swiss francs each. People in training can now deduct up to 12,900 Swiss francs for training and further education costs. This adjustment ensures that taxpayers do not have to bear a higher tax burden if their purchasing power remains the same. The effects of the cold progression are thus compensated. Married couples now pay taxes from a taxable income of 29,300 Swiss francs (previously 28,800 Swiss francs). The highest rate is now reached with a taxable income of 928,700 Swiss francs, previously it was 912,600 Swiss francs. The adjustment will take effect from the 2024 tax year and will be relevant for the 2025 tax return. According to the media release, the inflation since the last adjustment of the cold progression in 2023 is 1.76 percent.nnnnnnnnnnnnnnnnnnnnnn
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