Hello
I'm selling a property in Ticino and I'm thinking of buying one in Zurich.
Would the rule that allows not to pay the tax for the income from selling the property still apply even if I buy in a different canton (of course the property needs to cost more) ? It's a relatively low amount considering I bought it many years ago but still not peanuts...
Thanks.
You need to check with your tax office. I think it differs from canton to canton. I‘ve seen on the Schwyz website that it is only valid if you buy again in Schwyz, but believe other cantons may be more liberal.
Oh that sucks will definitely check...thanks...
If it’s your first home then I believe it’s fine. It certainly is the other way - ZR->TI
When you sell the property in Ticino the notary will deduct property sales tax at source. How much will depend on how long you have owned the property. I think, if you have had it over 10 years, they will retain 4% of the sales price. You then have to file a declaration and the tax department will refund what is due, if anything, or send you a bill for the additional amount in the other case.
Dont forget about those possible deductions i.e. renovation works etc
Unless you already deducted these from your taxes.....