Schwyz levies wealth tax on net assets as at 31 December. Your taxable base equals total assets (cash, securities, real estate, business interests, alternatives) minus qualified allowances and deductible liabilities. Correctly applying these inputs is key to an accurate and efficient assessment.

For the tariff mechanics and municipal multipliers, see Rates & Municipal Multipliers. For asset-specific valuation guidance, see Valuation Rules.

Personal Allowances (Exempt Thresholds)

Schwyz grants a basic personal allowance (exempt threshold) by filing status, applied before the cantonal base and municipal multiplier. An increment per dependent child is typically available.

Thresholds are updated periodically by the Schwyz tax administration — verify the current year’s figures before filing.

Debt Deductions (Netting at 31 December)

Deduct only legally enforceable, documented liabilities outstanding on 31 December. Common deductible items include:

• Mortgages on Swiss and foreign real estate (allocate proportionally across cantons/countries)
• Bank loans and margin loans (contracts + 31 Dec balance confirmations)
• Private loans with written agreements and evidence of interest
• Assessed/known taxes due at year-end

Contingent or non-enforceable obligations (e.g., guarantees) are not deductible until they become due.

Pension Assets (Pillar 2 and 3a)

Assets in occupational pension plans (pillar 2) and tied retirement accounts (pillar 3a) are generally exempt from wealth tax in Schwyz until withdrawal. Non-tied savings (pillar 3b) remain part of taxable wealth.

• Contributions and buy-ins mainly affect income tax but shelter assets from wealth tax while inside the pension wrapper.
• Keep year-end pension certificates as evidence.

Valuation Interfaces That Drive the Base

Valuation determines the pre-netting base and must align with accepted practice:

• Real estate (Schwyz): Declare the official assessed value (amtlicher Wert), typically below market.
• Listed securities: Use recognised year-end price lists accepted for tax purposes.
• Private companies: Apply the Swiss practitioner method (earnings capitalisation + NAV weighting).
• Cryptoassets: Use accepted 31 December reference prices; retain source evidence.

Family Attribution & Marital Property

Married couples are jointly assessed in Schwyz. Assets of dependent children are attributed to the parents. Where spouses are taxed separately due to separation, each applies the single allowance and their own liabilities.

Gifts and inheritances received during the year are included in the 31 December wealth balance unless a specific exemption applies. Coordinate with inheritance/gift planning where relevant.

Documentation Checklist (Wealth Section)

Planning Insights (Schwyz)

• Because municipal multipliers are low, valuation discipline and debt netting often move the needle more than intra-canton relocation — but commune choice still matters.
• Keep leverage genuine and documented; circular or artificial loans risk challenge.
• Use pension wrappers strategically to shelter assets while balancing liquidity and income-tax effects.