You should know these cases

Tax advantages

Use residential building insurance correctly: is it tax deductible?

Every home owner knows how quickly damage to the house can occur. Residential building insurance should therefore be indispensable.

Residential building insurance is a property insurance that you need as the owner of residential real estate. It does not matter whether you live or rent the house yourself. If you use a residential building privately, you cannot deduct this insurance company for tax purposes. However, there is a possibility of how you can save when renting.

If you are the owner of residential properties, you need residential building insurance. It covers damage to buildings caused by storm, fire, hail or tap water. In addition, you can insure other damage, for example through natural disasters.

As an policyholder, you will ask yourself whether the residential building insurance can be tax deductible. If you use your residential property yourself, you have no tax benefits. It cannot be tax deductible in the event of self -inhabited real estate. Even when renting, you cannot claim residential building insurance in your tax return.

Residential building insurance is property insurance and therefore not tax deductible if you use a building privately. It does not serve personal provision. On the other hand, premiums for insurance companies that serve personal provision are tax deductible, for example:

If you rent residential properties, you need residential building insurance, but you cannot deduct the contributions for tax purposes even. However, you can convert the insurance costs to the tenants. According to paragraph 2 of the Operating Cost Ordinance, you can pass on the residential building insurance in the additional cost statement under “Operating costs from renting and leasing” to the tenants. Your tenants must accept this cost circulation.

There is an exception in which you can take out the residential building insurance for tax purposes. If you have a study in the building you use or use several rooms professionally, you can assert the costs of building insurance for tax purposes.

However, it must be clearly delimited rooms that can be used professionally and that they actually use professionally. It is not enough to set up only one work corner in the living room. Which contribution you can assert depends on the size of the rooms. It is relevant what proportion of the area of ​​these rooms has in the entire living space.

If you are an employee and use a study professionally, enter the cost of residential building insurance as advertising costs in your tax return. If you are self -employed, make the expenses for residential building insurance as operating costs. In order for the costs to be recognized by the tax office, you must submit the following together with your tax return:

If you rent a residential building or rooms commercially, you can claim the costs in Appendix V of the tax return. These are operational expenses for renting and leasing. You must offset the income achieved with the rental.