Reductions of 5% to 11.5%
Good news this year for residents taxed in the canton of Geneva: the tax burden will fall for nearly 63% of the population, with reductions ranging from 5% to 11.5% depending on income bracket. The middle classes stand to benefit the most, while higher earners will see more moderate decreases. If you have not yet noticed a change in your 2025 advance payments, there is no need for concern, these instalments did not take this new measure into account.
A reduction… and some changes
Alongside this welcome tax cut, 2025 will also introduce other updates, particularly in the way advance payments are calculated. Instead of being divided into ten instalments as before, the total amount due to the tax authorities will now be spread across twelve monthly payments. To make it easier to estimate your tax liability, the administration has also launched a new online tax simulator, accessible to all. This tool will help taxpayers better anticipate any changes in their circumstances before filing their tax return.
What strategy to adopt in 2025?
For the state and the municipalities, these tax cuts will result in a reduction of 434 million francs in revenue, an amount that will, in effect, remain in the pockets of Geneva’s residents. Will they spend more, invest in property, or increase their savings? The start of this new year offers the perfect opportunity to reflect on your financial strategy. To help you make the most informed choices, do not hesitate to call on the expertise of a Plus specialist.
