Every year again - tax return and cryptocurrencies

At the beginning of the year, Switzerland is always busy with the (sometimes not quite trivial) filling out of the tax return.

As an investor, you want to get the best out of your portfolio, which is why many choose asset management. To assist you as a competent partner, we would like to draw your attention to the following facts.

In addition to the great time savings, professional management and monitoring of the portfolio, access to modern industry standards and other benefits, there may also be the tax consideration of the fees.

Deduct asset management costs

Asset management costs can be partially tax deductible in Switzerland, depending on the canton. In order to also benefit from this quality of asset management, we recommend that you check the tax deductibility of asset management fees in your canton of residence. In the canton of Zurich, for example, the tax return guide provides relevant information in this regard. A small excerpt from this as an indication of possible wording: "In the case of securities held as private assets, in particular the costs of management by third parties may be deducted." It is generally advisable to obtain an overview of all existing assets with regard to this topic.

For the complete documentation of the fees, only the four quarterly statements must be enclosed with the crypto asset management mandate of CAM Schweiz AG. However, it is recommended to enclose all documents received with the tax return.

This relates to the "management fee" charged on the quarterly statements.

Anyone who is unsure whether asset management fees are tax deductible and, if so, to what extent, should consult a tax advisor, who can assist with the preparation of the tax return and provide valuable tips.

At this point, the staking income should also be mentioned, on which the FTA side provides information in a working paper. According to this document, this compensation qualifies in principle as income from movable assets and is therefore to be declared as taxable income.

  • Quartalsabrechnungen für das ganze Jahr

If you no longer have all quarterly statements, please feel free to contact us. We will be happy to send them to you again. 

  • Please also note,

that tax regulations and practices may vary by country and region. Therefore, it is important that you inform yourself about the tax regulations of your country.

Although we have made every effort to carefully research and review the information in this article, it is not a substitute for individual tax, legal or investment advice. The facts described are of a general nature and cannot replace personal advice from an expert. 

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