Calculating my tax in Switzerland, please confirm?

[pesto]

Thanks to the wonderful help I already found in other threads where @Martin Everson posted the withholding calculate tool

Calculate your withholding tax in Switzerland

Ever wondered how much tax you need to pay, or you just need a salary projection? Check it out easily!

incometax.ch

I came to the result that from an income of 10K CHF / month I have only to pay roughly 350 CHF in taxes as a single without children and living in Zug! On top I have calculated a luxury health insurance costing me 600 CHF / month.

I removed the church member, I only believe in myself.

Are these figures real? no other taxes or anything to pay?

 

[Sols]

That's not correct.

Use this one from the government: Calculate taxes

 

[JackAlabama]

Thanks to the wonderful help I already found in other threads where @Martin Everson posted the withholding calculate tool

Calculate your withholding tax in Switzerland

Ever wondered how much tax you need to pay, or you just need a salary projection? Check it out easily!

incometax.ch

I came to the result that from an income of 10K CHF / month I have only to pay roughly 350 CHF in taxes as a single without children and living in Zug! On top I have calculated a luxury health insurance costing me 600 CHF / month.

Only if you are male and young. It can be easily 1k and up for the private adds.

I removed the church member, I only believe in myself.

Are these figures real? no other taxes or anything to pay?

Nah, its way more. Maybe 15% ish, so below 20k in tax for a salary of 120k per year.

The main problem will be rent and general living costs, which are astronomical. 10k alone is also not a such great salary there. Better if you can pocket 20k and up.

 

[clemens]

I tried to enter your data OP and get a NET sum of 8850 CHF why is that wrong what he say, beside a few hundred CHF ? @Sols @JackAlabama

 

[marioIT]

@pesto use the one @Sols posted above.
But before using it, you should read the guides on taxation from government to understand all the write off and taxes you may not know. And the different levels of taxation (communal, cantonal, federal). They can vary a lot between Zug and Geneve for example. And single vs family.

this one is nice The Swiss Tax System (Publication)
there are shorter and easier ones, but sorry don't have the links now.
this is for kids Steuern Easy - Home - steuern-easy.ch

And then you should also grasp the social security system and the many insurances there if you're not familiar with such a system.

Also for a dirty quick calculator you may use CHF 100'000 income tax calculator 2023 - Zurich - salary after tax
but remember there are some write-offs that these simple calculators don't factor.
Remember you calculate your taxes on the net taxable income not gross...

some tax deductions here. If you also are a sole trader or own a business you can write off A LOT compared to other neighboring countries (cars, travel expenses...), as long it's reasonable...

Switzerland - Individual - Deductions

Detailed description of deductions for individual income tax purposes in Switzerland

taxsummaries.pwc.com

some random calculations:

Switzerland - Individual - Sample personal income tax calculation

Example of a standard personal income tax calculation in Switzerland

taxsummaries.pwc.com

 

[pesto]

Hello,

To get it right for my example:

Cantons in question:
Zug, Schwyz
Gross amount 9950 CHF
Single
No Kiddy's
No church
Age 47
Net worth nothing
Home renting 3550 month

No obligations, loans or anything - all clean records nothing to pay there.

What would be the money I get out? I assume for some of you heavy boys it is easy to calculate?

 

[JackAlabama]

Hello,

To get it right for my example:

Cantons in question:
Zug, Schwyz
Gross amount 9950 CHF
Single
No Kiddy's
No church
Age 47
Net worth nothing
Home renting 3550 month

No obligations, loans or anything - all clean records nothing to pay there.

What would be the money I get out? I assume for some of you heavy boys it is easy to calculate?

Wealth tax are anyway relative minimal-ish, but a big pain to file and a clusterduck for privacy. However, as Swiss takes that serious so no privacy related threats arise from this in most cases (stark contrast to the global south).

10% will go to the socials in a wht style.

So left is about 8.5k.
Is this a job or self employed?

102k / y, idk well the deductions, lets assume you can deduct 22k for whatever healthcare and work expenses, car whatnot etc. Rent is no deduction, so it will be paid by sweet after tax chf.

80k left to tax, which would be around 8k to pay or so.

https://steuern.zg.ch/private/calculator

The story goes on
45k-50k goes towards housing including related costs (water, electricity, a lot towards heating bc is friggin cold there for almost the whole year).

Then party, dating, restaurants, drinks and groceries, which cost a lot too.

 

[myhand]

Hello,

To get it right for my example:

Cantons in question:
Zug, Schwyz
Gross amount 9950 CHF
Single
No Kiddy's
No church
Age 47
Net worth nothing
Home renting 3550 month

No obligations, loans or anything - all clean records nothing to pay there.

What would be the money I get out? I assume for some of you heavy boys it is easy to calculate?

don't you have a tax advisor to help you ?