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Can I deduct the premiums I pay for accident insurance from my taxable income for Swiss income tax puposes?
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Can I deduct the premiums I pay for accident insurance from my taxable income for Swiss income tax puposes?
Hi there,
Yes, you can deduct accident insurance premiums from your taxable income when completing your tax returns.
All insurance premiums for all eligible insurances are added and collectively apply towards the flat deduction for insurance premiums and interest earned on savings combined. This deduction is limited, so you can only deduct combined insurance premiums and interest up to a maximum limit. The limit can vary depending on various factors such as whether you are married or single, or whether you contribute to retirement savings in the same tax year.
Best regards from Moneyguru