Uri Wealth Tax Allowances
Uri Wealth Tax: Allowances & Deductions
How Uri determines taxable net wealth — statutory social deductions, debt offsets, and valuation rules applied by the cantonal tax authorities.
The Canton of Uri levies wealth tax on net assets held on 31 December — that is, worldwide gross wealth minus deductible debts and statutory social deductions from net wealth. The resulting taxable wealth is then rounded down to the next CHF 1,000 for assessment purposes.
This overview is based on the Steuergesetz des Kantons Uri (StG UR), in particular Articles 55 and 56 on the determination of taxable wealth and social deductions, and the practice of the Steuerverwaltung Uri.
Social Deductions from Net Wealth (Art. 55–56 StG UR)
Uri does not use a simple “zero-rate band” for wealth tax. Instead, the law grants social deductions that are subtracted from net wealth (Reinvermögen) to arrive at taxable wealth. The deduction level depends on marital status and the number of non-independently taxed children.
| Filing Status | Social Deduction (statutory) | Notes |
|---|---|---|
| Married couple in undivided marriage | CHF 211,500 | Applies to spouses living in a legally and factually undivided marriage (Art. 56 para. 1 lit. a StG UR). Deducted once per tax household. |
| All other taxpayers | CHF 105,800 | Standard social deduction for single, divorced, widowed or separately assessed taxpayers (Art. 56 para. 1 lit. b StG UR). |
| Per non-independently taxed child | CHF 31,700 | Additional deduction for each child that is not taxed separately (Art. 56 para. 1 lit. c StG UR). If parents are taxed separately, the amount may be shared in line with parental responsibility and maintenance. |
Mechanically, Uri first determines net wealth (assets minus debts), then subtracts the applicable social deductions under Art. 56 StG UR. The result is taxable wealth, which is rounded down to the next CHF 1,000 for the tax calculation (Art. 55 para. 3 StG UR). The personal situation at the end of the tax period governs which social deductions apply (Art. 56 para. 2 StG UR).
Debt Deductions
Uri allows deduction of legally enforceable debts that exist on 31 December and are clearly documented. These are first subtracted from gross assets to determine net wealth (Reinvermögen).
- Mortgages on Swiss or foreign real estate
- Bank loans, investment loans, and margin loans
- Private loans backed by written agreements and interest documentation
- Accrued but unpaid Swiss tax liabilities (federal, cantonal, municipal)
Debts in foreign currencies must be converted at the official year-end exchange rates used by the tax authorities.
Contingent or informal obligations (for example, guarantees or comfort letters) are generally not deductible until they crystallise into an actual enforceable debt.
Pension Assets & Retirement Accounts
Uri follows the standard Swiss practice of fully exempting certain pension assets from wealth tax:
- Occupational pension assets (2nd pillar)
- Tied individual retirement accounts (pillar 3a)
These assets are not included in taxable wealth until benefits are paid out. Untied savings and investment products (pillar 3b) remain fully taxable as part of net wealth.
Pension buy-ins and pillar 3a contributions mainly provide income tax relief; their effect on wealth tax is indirect, via changes in the balances of taxable versus exempt accounts.
Valuation Adjustments
The valuation rules Uri applies to specific asset classes can materially influence the wealth tax base:
- Unlisted business interests: typically valued using Swiss practitioner methods combining earnings value and net asset value, which can produce a taxable value below a theoretical market price.
- Real estate: taxed at official values (amtlicher Wert / tax value), often lower than full market value, providing natural relief for property owners. Note the special rule for former agricultural dwellings converted under Art. 24d RPG, which must be valued at market value.
- Movable property: ordinary household goods are exempt; significant art, jewellery, and collections are taxable at fair market value.
- Cryptocurrencies and precious metals: generally valued at official year-end prices or other verifiable market quotations used by the tax authorities.
Marital Property & Family Context
Married couples living together are taxed jointly in Uri. The assets of minor, non-independently taxed children are attributed to the parents for wealth tax purposes, which is why the child-related social deduction (CHF 31,700 per child) is important in practice.
Gifts and inheritances received during the year are included in year-end wealth unless they fall under a specific exemption (for example, certain insurance or pension benefits under cantonal or federal law).
Documentation & Compliance
The Uri tax administration expects coherent documentation for both assets and liabilities. Typical supporting evidence includes:
- Bank and custody account statements as of 31 December
- Mortgage and loan balance confirmations
- Private loan agreements and interest summaries
- Pension statements (2nd pillar and pillar 3a)
Ensuring that figures are consistent between the income and wealth sections of the return helps avoid queries and adjustments during assessment.
Planning Insights
- Uri’s comparatively high social deductions for married couples and children mean that family structuring and debt allocation can significantly affect taxable wealth.
- Optimising mortgage levels on real estate can reduce taxable net wealth, but interest costs, amortisation, and risk tolerance must be weighed carefully.
- Reviewing official real estate valuations and business valuations can uncover straightforward relief without complex planning structures.
- For entrepreneurs and investors resident in Uri, it is often efficient to model income and wealth tax jointly, especially when considering gifts, inheritances, or business reorganisations.