I am moving to Zurich. I saw that daycare is pretty expensive. I found around 3000chf for a month.
I also saw that it's tax deductible. What does that actually mean? how much money I can return back?
thanks in advance
hello,
The deduct if from your annual taxable income. They will not refund anything, just your "taxable income" will be lower.
Thank you, I didn't know that. Do I need to declare a receipt from daycare to get the tax deductible?
Also, for 10000 tax deductable, how much I will gain in the end?
I am sorry I really don't know anything
Nobody can say that as that depends on your income and assets. Just check comparis what your taxes are when you have a lower income, that will give you an idea.
At the end of each year you will get a summary of costs for TAX filling purposes from KITA (at least we always got it from KITA as well as Hort). Then you attach it to tax filling and write how much you want to deduct (up to limit that is).
Then your taxes will be calculated from amount of: real income - KITA costs. How much will you save, as others said, depends on your life situation / tax rate and income.
Normally all legitimate daycare centres issue a statement of your payments for the whole year. You submit this with your tax return through your tax agent or fill out the required section of the tax return if you are filing it on your own.
The savings depends on your income, only you will get to know about it