(edit title) Please list all tax deductions a prvate individual can make Options

[KingOswald]

From looking at the posts, meeting a Swedish tax advisor and google I have got a list but wanted to know if there were any more.

1. Interest Payments are fully deductable (Where does the 30% relief bit come from?)

2. Commuting expenses above kr8000

3. Double dwelling, (As we have our main house in the UK and we are a couple I have been told we can deduct the total cost (Rent or Mortgage) of living expenses in Sweden for 3 years. Any web links to this would be appreciated as the only place I have got this info is from the tax advisor and nowhere else.

4. The tax you pay on a UK house seems a bit confusing. Some say you should rent it out, some say not to.

5. Key Personel. This was a none starter for us as the company did not want to do it.

Any more deductions you can make?

[007]

1. Interest Payments are fully deductable (Where does the 30% relief bit come from?)

only 30% of your interest payments are deductable. don't know where you're getting fully deductable.

there's also a cap, though i don't know the level.
interest on a 2-3 million mortgage is still probably at the full 30% level.

[KingOswald]

Well the interest thing is hard to understand. In this doc it says it is 100% deductable, (but that does not mean you will get a 100% refund. Just that your taxable income will be reduced by the amount of interest you pay. (See individual taxes bit of the following document)

http://www.isa.se/upload/english/FactSheet...s_in_Sweden.pdf

[007]

i haven't read the doc. but i can assure you that you can reduce your taxes by 30% of the total interest you pay on the mortgage.

pay 10,000kr in interest, get to write off 3,000kr.

been doing it for years.

[KingOswald]

Maybe thats about right then. I am only asking this as one of the ways you get by in Sweden is to claim back as much as possible. Looks like we might be broke for the first year then have a windfall the next.

[Streja]

Nothing to do with taxes but you also save money since school dinners are free if your kids go to school that is...

[Alfredo]

Oswald

''Looks like we might be broke for the first year then have a windfall the next.''

Yes, it is a bit like that.

[smiley]

been here 15 months. me and hubby moved over. renting at the mo.
got a thing from the tax office but all in swedish!!!!
or is this another visit to teh tax office?
i´m fully employed here.

[Mib]

there's also a cap, though i don't know the level.
interest on a 2-3 million mortgage is still probably at the full 30% level.

The maximum is 100,000kr per person ie. if your interest payments total 200,000 per year and 2 people are paying the mortgage, you will receive 60,000kr (total) back in tax for the 2 of you. So, you only pay 140,000kr each year. This can be paid monthly into your salary or at the end of the year as a lump sum. I think you would want the monthly option. You have to fill out a form on the Swedish tax web site to claim.

[Streja]

been here 15 months. me and hubby moved over. renting at the mo.
got a thing from the tax office but all in swedish!!!!
or is this another visit to teh tax office?
i´m fully employed here.

???

That's the yearly tax return surely?

[smiley]

thanks streja
ill be getting no money back then :oops:
sorry for getting the wrong end of the stick!!!

[Puffin]

3. Double dwelling, (As we have our main house in the UK and we are a couple I have been told we can deduct the total cost (Rent or Mortgage) of living expenses in Sweden for 3 years. Any web links to this would be appreciated as the only place I have got this info is from the tax advisor and nowhere else.

I think that you need to get some more advice on this as I am not sure that this would necessarily be a good idea. As far as I am aware double dwelling benefits is that one person in a family has to move to a new job while other family members are still in the old home - it is a temporary allowance to compensate in the short term that the family needs 2 homes - if you all move then you would no longer have than right. Here is a brochure in Swedish that explains the conditions.
http://www.skatteverket.se/download/18.3df...15-9.02farg.pdf

There is also a risk that if you attempt to claim the allowance during 2007 then the Swedish tax authorities may consider that you would also have to pay Swedish property tax on your UK home - as you can hardly claim tax relief if you are not paying the tax.

You would also need to check out what the tax implications of rental income are.

When it comes to owning your own property - one long term thing to bear in mind is when you sell you are noramlly able to claim back approx one thrid of major expenditure/rennovation over 5000 kronor/year. So if you put in a new bathroom or buy a new washing machine you can reduce your capital gain.

[Puffin]

3. Double dwelling, (As we have our main house in the UK and we are a couple I have been told we can deduct the total cost (Rent or Mortgage) of living expenses in Sweden for 3 years. Any web links to this would be appreciated as the only place I have got this info is from the tax advisor and nowhere else.

I think that you need to get some more advice on this as I am not sure that this would necessarily be a good idea. As far as I am aware double dwelling benefits is that one person in a family has to move to a new job while other family members are still in the old home - it is a temporary allowance to compensate in the short term that the family needs 2 homes - if you all move then you would no longer have than right. Here is a brochure in Swedish that explains the conditions.
http://www.skatteverket.se/download/18.3df...15-9.02farg.pdf

There is also a risk that if you attempt to claim the allowance during 2007 then the Swedish tax authorities may consider that you would also have to pay Swedish property tax on your UK home - as you can hardly claim tax relief if you are not paying the tax.

You would also need to check out what the tax implications of rental income are.

When it comes to owning your own property - one long term thing to bear in mind is when you sell you are noramlly able to claim back approx one thrid of major expenditure/rennovation over 5000 kronor/year. So if you put in a new bathroom or buy a new washing machine you can reduce your capital gain.

[Alfredo]

Here's a list of the 15 best 'avdrag':

http://www.dinapengar.se/Avdelningar/Artik...c04%5c29%5c8970

[KingOswald]

Thanks for those.

From the links it looks like you can claim for hobbies. What does this mean you can claim for?