Taxes on renovation fund for apartment building

I just bought an apartment in a building with six apartments. The way it works in the building is that all owners put money in a renovation fund every year so we can renovate the building when the time comes. Since my share of the fund will amount to several tens of thousands of francs before the next renovation, I am wondering whether that money counts as my personal wealth for taxes. It isn't really my money because I can't touch it. Do I still have to pay taxes on it?

Hi there,

moneyland.ch is not a tax advisory service, and you will have to speak to a tax advisor or enquire at your local tax office for information pertinent to your specific situation.

The majority of cantons require that you include your portion of a renovation fund in your taxable income declaration.

Best regards from Moneyguru