When it comes to the wealth tax, I have both good and bad news.
Which one should I start with?
The good one!
The Confederation does not tax your wealth.
The bad one?
The cantons and communes do.
We first have to determine your net wealth, which equals to the sum of your real estate and movable assets, minus all your debts (mortgages loans for instance).
Each canton agrees to overlook part of your wealth, which will not be imposed. For instance, in the canton of Vaud, below 56,000 CHF for a single person, no taxes will be required. If your wealth is higher than 56,000 CHF, you will have to pay wealth tax.
Next step: refer to the unified scale.
If my net wealth is 100,000 CHF, the corresponding tax is 80.80 CHF.
Then, you just have to apply the rates of your canton and commune of residence to find out your wealth tax.
As we have seen in the calculation of the income tax, you have to find the cantonal and communal rates and apply them to your base tax.
If I live in Lausanne, the rates will be the following:
- 78.5% at the commune, which gives me 63.45 CHF
- 155% at the canton, which gives me 125.25 CHF
By adding up these two amounts, I end up with the final amount of my wealth tax.
63.45 + 125.25 = 188.70 CHF in wealth taxes to pay to my commune and canton.
Do you want to estimate how much you will pay in taxes? Then you should go check out our taxation calculator!
What about wealth tax in Geneva?