Tag Archives: Personal finance

Individuals can opt out of church tax in most cantons. But companies rarely can, despite many having no connection with a church or a religion. The topic has been a hot political subject for a long time in Switzerland and came back under the spotlight this week when the canton of Bern discussed making it optional, reported SRF. © Nuvisage | Dreamstime.comIn 2021, the canton of Bern collected CHF 37 million in church tax from companies, so a change in rules would be felt. A key...

After two increases in a row the reference interest rate used for adjusting rents remains unchanged this quarter. Photo by Expect Best on Pexels.comAfter two rises from 1.25% to 1.75% last year, many tenants in Switzerland will be breathing a sigh of relief. Many economists forecast no increases in the rate this year. Every quarter the rate of interest used to set the rents in Switzerland is reviewed. If it goes down some renters have the right to request a decrease in rent. If it...

Married couples in Switzerland are taxed together, unlike unmarried couples who are taxed individually. This often acts as a tax disincentive for one spouse to work, disproportionately affecting women. For many years, certain political parties have been pushing to remove what is essentially discrimination on the basis of marital status. The issue came back into the limelight this week in the run up to a 27 March 2024 deadline for the government to respond to an...

Married couples in Switzerland are taxed together, unlike unmarried couples who are taxed individually. This often acts as a tax disincentive for one spouse to work, disproportionately affecting women. For many years, certain political parties have been pushing to remove what is essentially discrimination on the basis of marital status. The issue came back into the limelight this week in the run up to a 27 March 2024 deadline for the government to respond to an initiative on the...

At the end of September 2023, driving was banned on a 60 metre section of Langstrasse in Zurich. To enforce the ban, cameras were later set up on 8 January 2024 to catch and fine errant drivers. Since then 17,310 fines have been issued. © Thomas-Stoiber – Dreamstime.comThe driving ban, which excludes buses, was introduced to make the area more cycling friendly and applies from 5:30 a.m. to 10 p.m. At CHF 100 each, the recent fines have generated 1.7 million of revenue for the city....

At the end of September 2023, driving was banned on a 60 metre section of Langstrasse in Zurich. To enforce the ban, cameras were later set up on 8 January 2024 to catch and fine errant drivers. Since then 17,310 fines have been issued. © Thomas-Stoiber – Dreamstime.comThe driving ban, which excludes buses, was introduced to make the area more cycling friendly and applies from 5:30 a.m. to 10 p.m. At CHF 100 each, the recent fines have generated 1.7 million of...

Support for the popular initiative to boost state pensions by 1/13 narrowed from 61% to 53% between 14 January and 10 February, according to a poll published by RTS. © Bigpressphoto-Dreamstime.comVoting intentions vary significantly by age. In the latest poll, people under 40 were most against it (55%), possibly because they know they will probably need to finance most of it. While only 34% of those 65 and over were against it. Those in the middle are the middle, with only 42% opposed to...

The federal government spent less in 2023 than budgeted but overestimated revenue. The net effect was an additional unexpected shortfall of CHF 1.4 billion, reported SRF. © Bartolomiej Pietrzyk | Dreamstime.comAt a media conference this week, finance Minister Karin Keller-Sutter said that the Federal Council was not aiming to raise a taxes to fund the additional shortfall. Raising taxes would require a constitutional amendment to get around the debt brake and would set a precedent for...

© Bartolomiej Pietrzyk | Dreamstime.com The federal government spent less in 2023 than budgeted but overestimated revenue. The net effect was an additional shortfall of CHF 1.4 billion, reported SRF. At a media conference this week, finance Minister Karin Keller-Sutter said that the Federal Council was not aiming to raise a taxes to fund the additional shortfall. Raising taxes would require a constitutional amendment to get around the debt brake and would set a...

Over the 12 months to the end of January 2024, annual inflation in Switzerland fell from 3.4% to 1.3%. The latest rate is 0.4 percentage points lower than a month earlier – it was 1.7% at the end of December 2023. Photo by Castorly Stock on Pexels.comAt the same time, on a monthly basis, inflation rose from 0% in December 2023 to 0.2% in January 2024, an annualised rate of 2.4%. This means the fall in the annual rate from 1.7% to 1.3% was driven entirely by the base effect. When a month...