if I (ZH canton) receive a cash gift from my parent that lives outside of Switzerland, what should I do if anything?
I seem to understand that in ZH gifts from parent to child are exempt from taxes, but furthermore, from ZH website :
And then:
The tax form then also mentions that you must file it even if the tax due is 0.
My doubt is: do I have to file the declaration in the first place? As I read it, it seems no to me: since this gift transaction is not a tax liability in the canton of Zurich at all per above definition, there is nothing to file. But wanted to double check
I (canton BL) filed a gift from my parents, no liability, but explains the sudden wealth, which makes the tax people happier. Nothing else to fill in. As it's from the UK, my parents need to live for 7 years or more after the gift or the amount will considered part of their estate and so potentially liable to death duty.
If you don't declare the gift, nothing will happen probably.
To add to Rezak's research above, the Ct. Zurich tax form "Steuererklärung für die Schenkungssteuer" notes at the bottom (translated):
"The tax return must also be filed if the gift does not exceed the tax-exempt amount. In contrast, no tax return is required for gifts to the spouse, descendants and registered partner. "
Also, if the OP was gifted financial securities, this event should be noted on the tax return's Wertschriftenverzeichnis (securities register) by indicating the date and selecting on "Schenkung (Zugang)" (gift (receipt)) under Art/Grund in the Ct. Zurich Private Tax software.