In Grisons (Graubünden), wealth tax is levied on net wealth (Reinvermögen / fortune nette): total worldwide assets minus deductible liabilities and cantonal tax-free allowances. The resulting taxable wealth is then subject to a progressive cantonal wealth tax scale, which is multiplied by the relevant communal tax multipliers.

This overview reflects the structure of the Steuergesetz des Kantons Graubünden (StG GR) and the guidance of the Steuerverwaltung des Kantons Graubünden on the taxation of wealth (Vermögenssteuer).

Personal Allowances

Grisons grants basic wealth tax allowances that reduce taxable net wealth. The allowance level depends on filing status. The relevant situation is that on 31 December of the tax year.

Exact exemption amounts and brackets are defined in the official wealth tax parameter tables of the Canton of Grisons for each tax year. Always refer to the current tariff sheet (Vermögenssteuertarif) when preparing a return.

Debt Deductions

Wealth tax in Grisons is based on net wealth, so legally enforceable, clearly documented liabilities outstanding at 31 December are deductible from gross assets. Common deductible debts include:

• Mortgage balances on Swiss and foreign real estate held privately
• Bank loans, investment credit lines and margin loans
• Private loans, provided a written contract and interest terms exist
• Outstanding federal, cantonal and communal tax liabilities

Debts denominated in foreign currencies must be converted into CHF using the official year-end exchange rates applied by the tax authorities (typically those published by the Federal Tax Administration).

Contingent or informal obligations (such as guarantees, sureties or letters of comfort) are not deductible until they crystallise into an actual, enforceable liability.

Pension Assets & Retirement Accounts

As in other Swiss cantons, Grisons treats certain retirement assets as exempt from wealth tax while they remain within recognised pension vehicles:

• Occupational pension assets in Swiss 2^nd pillar schemes (berufliche Vorsorge / BVG) are excluded from taxable wealth until benefits are paid out.
• Tied individual retirement accounts (pillar 3a) are likewise not subject to wealth tax.

Ordinary savings and investment products (pillar 3b) remain fully taxable as part of private wealth.

Pension buy-ins and pillar 3a contributions primarily reduce income tax. For wealth tax, the effect is indirect: assets move from taxable private accounts into exempt pension plans.

Valuation Adjustments

Under the Grisons tax code and practice, most assets are valued at market value (Verkehrswert) as at 31 December, with specific valuation rules for certain categories:

• Household effects: normal household goods and personal items (Hausrat und persönliche Gebrauchsgegenstände) are exempt from wealth tax.
• Securities and funds: listed securities are valued at their official year-end prices; for many collective investments, tax values published or accepted by the authorities may be used.
• Unlisted business interests: participations in non-listed companies are usually valued using income- and asset-based methods in line with Swiss tax conference practice, which may result in a taxable value below pure book equity.
• Real estate: private property is valued according to cantonal rules, typically using tax values (steuerlicher Wert) that may lie below market value; agricultural property may have separate valuation based on income value.
• Life and annuity policies: policies with a surrender value are taxable at that value; non-surrenderable claims are generally outside the wealth tax base.
• Cryptocurrencies and digital assets: typically valued at the official year-end prices published by the Federal Tax Administration.

Marital Property & Family Context

Married couples living in an undissolved marriage are generally taxed jointly in Grisons. Their income and wealth are aggregated irrespective of the matrimonial property regime, and the joint allowance and family-related brackets apply to their combined net wealth.

The assets of minor children under parental authority are usually attributed to the parents’ return for wealth tax purposes. This can influence both the applicable allowance and the progression of the wealth tax schedule.

Gifts, inheritances and other extraordinary inflows during the year are included in taxable wealth as of 31 December, unless they qualify for specific exemptions (e.g. certain pension or insurance benefits). Separate cantonal rules govern inheritance and gift tax, which should be considered alongside wealth tax planning.

Documentation & Compliance

The Grisons tax administration expects clear, consistent documentation to support both assets and liabilities reported for wealth tax, typically including:

• Year-end bank and custody statements for cash, securities and funds
• Mortgage and loan balance confirmations as at 31 December
• Written contracts and interest statements for private loans
• Pension fund statements (2^nd pillar) and pillar 3a account overviews
• Valuation reports or tax valuation notices for real estate and significant private participations

Consistency between the income tax and wealth tax parts of the return (for example, for investment portfolios or rental properties) helps avoid follow-up questions and assessment adjustments.

Planning Insights

• With a progressive wealth tax scale and varying communal multipliers, accurately determining net wealth at year-end can deliver recurring savings, especially for higher asset levels.
• Mortgages and investment loans can be used to reduce taxable net wealth, but interest costs reduce overall after-tax returns and impact income tax, so debt strategies should be analysed holistically.
• Concentrated holdings of low-yield or non-productive assets (excess cash, collectibles) above the allowance thresholds can drive wealth tax without adding income; reallocating into diversified portfolios or tax-advantaged pension vehicles may improve both risk/return and tax outcomes.
• Owners of private companies should review the valuation method used for their participations, since recognised practice methods can significantly affect the taxable wealth attributed to these holdings.
• Intra-family planning (gifts, loans, early transfer of real estate or business interests) can shift wealth tax exposure, but only properly documented arrangements are recognised and they may also trigger inheritance or gift tax in Grisons.