Pension provision, renovation, visit to the doctor What you need to do to save tax before the end of the year

You can still influence how much tax you pay next year before the end of the year. The most important keywords: pensions, donations, doctor's visits and for property owners Renovations.

December 31 is the key date for your next tax return. You can influence the amount of deductions in particular until then. But don't wait too long, the financial institutions still have to process your transactions.

How much tax you pay depends on how much income you have left after deducting all deductible costs. Most people in gainful employment, especially employees, can no longer significantly influence their income in the last two weeks of the year.

The situation is different when it comes to deductions. blue News has a few tips on this.

Tied pension provision, usually known as pillar 3a, is a simple method of investing retirement capital. You can also deduct payments into pillar 3a from your income in your tax return.

Your Pillar 3 capital is also not considered as assets, so you do not pay wealth tax on it. You must open a 3a account with a bank or other financial institution. This will send you a receipt for your payment every year, which you must enclose with your tax return.

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You can pay in as much as you can afford. However, as an employee, you can deduct a maximum of CHF 7056 from your taxes. Self-employed persons can deduct a maximum of 20 percent of their income and no more than CHF 35,280 from their tax return.

You can withdraw the money from your 3a account at the earliest five years before retirement and at the latest five years after. In that year, however, you must pay tax on it as income. It is therefore advisable to keep several accounts so that too large an amount does not end up in your everyday account all at once. Experts recommend opening a new 3a account every few years.

From 2026, you can also pay money into a 3a account retrospectively if you have not paid in the maximum amount in one year. The first year for which this is possible is 2025.

Another way to deduct more from your income is to buy into the pension fund. These are possible if you have not paid in the maximum that is possible in your individual case.

Most pension funds note on your pension certificate whether you have paid in the maximum since the start of your contributions or whether there is "purchase potential". This potential corresponds to the maximum amount that you can pay in retrospectively. For example, before the end of the year.

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You can also deduct charitable donations from your income and thus reduce your tax burden.

Please note: Only donations to organizations with the Zewo seal are deductible. This means that they are based in Switzerland and are tax-exempt.

The fact that aid organizations receive so many begging letters in the last few weeks of the year is probably not only due to the Advent season, when many people are more generous than usual. Some may take the opportunity to do something about their tax burden.

To qualify for the deduction, you must donate at least 100 francs and a maximum of 20 percent of your income.

You can also deduct value-preserving renovations and ecological refurbishments to your own home from your income.

Now, it's not very realistic to quickly replace the windows or have the façade re-insulated just before Christmas. But there may still be enough time for a new coat of paint in an interior or new sun blinds. The important thing is that you have paid the contractor's invoice before December 31.

Are you planning a major renovation? Then it may be worthwhile for tax purposes to spread the work and therefore your costs over several tax years. Deducting smaller amounts several times pays off more than deducting a large amount once.

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You can also deduct medical expenses - in addition to health insurance premiums. If you have an ailment that you should have seen a medical professional about a long time ago anyway, then do so as soon as possible so that the bill arrives at your health insurance company before the end of the year.

It should be added to this tip that unnecessary medical consultations drive up healthcare costs. However, if you have a health problem, it could end up being more expensive to put off a check-up.

For the 2024 tax return, only the amount debited from your account by December 31 at the latest and, in the case of a pension deposit, credited to the corresponding account, is relevant.

The NZZ reports on a case in which a couple made a five-figure pension deposit shortly before the end of the year. This was also debited from their account, but not yet booked as a new balance in the pension assets. However, the Federal Supreme Court ruled in the last instance that this is decisive in order to be deductible. Waiting too long can be expensive.

With information from: Zürcher Kantonalbank, Basler Kantonalbank, Vermögenszentrum, Raiffeisen, NZZ