In the case of movable private assets, certain costs incurred by third parties (banks, asset managers, trustees) and foreign withholding taxes that are neither recoverable nor creditable may be deducted.
Which costs are deductible?
- account management fees (expenses) for current accounts, investment accounts and savings accounts
- costs for tax registers
- costs for the safekeeping of securities and other valuables in open custody accounts or safe deposit boxes (custody fees, safe deposit box fees)
- costs for the collection of investment income (collection fees, affidavit fees, e.g. for coupon redemptions)
- negative interest rates
Which costs are not deductible?
- asset management costs (active custody account management)
- costs associated with the purchase/sale of securities (commissions, fees, stamp duties, brokerage fees)
- issue fees
- commissions
- costs of asset reallocation
- commissions for fiduciary investments
- costs for tax advice
- costs for preparing tax returns
- costs for financial, investment, inheritance and pension advice
- costs for own efforts
- EC card and credit card fees