Hello all (together ),
I am getting married soon, and since my partner and I will live in different countries, I am trying to get all the info that I can regarding taxes / any bureaucratic processes we need to do.
One of the issues that I thought of, is how the taxation of the wedding gifts would work. I have found that for the canton that I live in, there should be a 5k threshold for gifts where I shouldn't need to pay any taxes (If I understood https%3A%2F%2Fwww.credit-suisse.com%2Fmedia%2Fassets%2Fprivate-banking%2Fdocs%2Fch%2Fprivatkunden%2Ffinanzplanung %2Ferbrecht-steuertabelle-en.pdf&usg=AOvVaw06raQJ_gcrn5FOU9eGlWW1 correctly).
Since we'll (hopefully) get a bit more than 5000.- as wedding gifts, would we need to pay tax on that or should it be fine since it comes from different individuals?
Thanks!
I don't think I can edit the message, but sorry the link was busted:
https://www.google.com/url?sa=t&rct=...crn5FOU9eGlWW1
In Ct. Zurich, the following limits for tax-free gifts exist according to the tax form for inheritance and gifts:
"The following gifts are tax-free:
- to father or mother up to CHF 200,000
- to brother, sister, grandfather, grandmother, fianceĢ(e), stepchild, godchild, foster child, domestic servant(s) with more than ten years of service, as well as to the to the child of the registered partner up to CHF 15,000
- to the partner who has lived with the donor for at least five years. who has lived in the same household with the person making the gift for at least five years up to CHF 50,000
- customary occasional gifts up to CHF 5,000"
https://www.zh.ch/de/steuern-finanze...ngssteuer.html
Will the gifts be coming form Switzerland?
In Zurich, for example, a gift tax is due only if the giver is Zurich resident (unless real estate is involved), so maybe it is not an issue for you to start with?