Tax Deductions for Seniors: Who Qualifies and What You Get
Learn how retirees in Switzerland can reduce their taxable income through deductions for medical costs and living expenses.
This scheme allows retirees to reduce the amount of income they are taxed on by claiming specific life expenses.
Who it's for
This is available to all retirees who are filing an annual tax return.
What you get
You can claim deductions, which lower your taxable income, for your health insurance premiums, various medical expenses, and certain costs related to your living situation.
What it costs you
There is no direct fee to apply, but it requires a significant investment of time to keep meticulous records of every medical receipt you receive throughout the entire year.
The catch to know
Because tax laws can change depending on your specific canton, the federal deductions might be less impactful than the local tax rules applied in your specific area.
How to apply
- Collect and save all receipts for medical and health insurance expenses throughout the year.
- Prepare your annual tax return.
- List your qualifying medical and living expenses in the appropriate sections of your tax documents.
- Submit your completed return to your local tax office.