Tax deductions for gifts to family abroad

Here you will find the right answers

About Moneyland Forum

The moneyland.ch forum lets you exchange knowledge on numerous topics related to money and get answers to your questions at any time. Join forum users and experts in discussions relating to banking, investment, insurance, retirement, telecom and everyday money topics.

Show categories

Please login in or sign up to participate in the forum.
 
avatar
  • Benutzernamefatih
  • Status Member
  • Registriert seit1/24/17
  • Beiträge6

Hello. Does anybody know if gifts sent to family outside of Switzerland can be deducted from taxable income? I am a foreign resident and regularly send gifts to various members of my family, all of whom live outside of Switzerland. I seem to recall reading something about transfers abroad being tax-deductible.

 
avatar
  • BenutzernameMoneyguru von moneyland.ch
  • OrtSchweiz
  • Status Expert
  • Registriert seit8/4/15
  • Beiträge4016

Within certain limits, gifts sent to family outside of Switzerland may be tax-deductible. However, this applies primarily to money sent to family members who are children, students, disabled persons or people in need of care. In some cases, gifts to regular, healthy adults may also be eligible.

Tax deductions and the exact terms and conditions attached to them are legislated on a cantonal level, and vary from one canton to another. Contact your local tax office to find out if your gifts are tax deductible.