Hi everyone,
I recently received a gift and I’m wondering about the rules for declaring it. How much does a gift need to be worth before it’s mandatory to report it on my taxes? Also, are gifts from friends or family (not related to my job) still subject to declaration? Any insights or experiences would be greatly appreciated. Thanks!
Marie
For gifts made to spouses, registered same-sex partners, or descendants, you do not need to file a special tax return. Moreover, for occasional gifts that do not exceed CHF 5,000, there is no requirement to report them, and no gift tax is payable on such donations. This threshold applies to gifts from any source, not just related to your job.
If your gift exceeds this value or falls outside of these categories, you would likely need to declare it. Zurich's rules are clear that gifts above CHF 5,000 that don't meet these exemptions must be reported, and taxes may apply depending on the circumstances.
You can find this information in the official Zurich tax guidelines, which clearly outline these thresholds. It's always a good idea to keep proper documentation of any gifts you receive, just in case you're required to provide proof.
