The Canton of Schaffhausen levies wealth tax on net assets held on 31 December — i.e. worldwide gross wealth minus statutory allowances and deductible liabilities. Getting these elements right can materially affect your combined cantonal and municipal tax burden.

This summary reflects the rules under the Steuergesetz des Kantons Schaffhausen (StG SH) and practice of the Steueramt des Kantons Schaffhausen. Municipal multipliers then determine the effective tax bill at the place of residence.

Personal Allowances

Schaffhausen provides basic wealth tax allowances that reduce the taxable net wealth. The allowance depends on marital status and family situation at the end of the tax period.

Amounts shown are indicative for 2025 and summarise Schaffhausen practice. The official Schaffhausen tax guide and calculator should be consulted for the exact minimum taxable wealth and child-related relief for the relevant tax year.

Debt Deductions

Schaffhausen allows deduction of legally enforceable debts that exist as of 31 December and are properly documented. Typical deductible items include:

• Mortgages on Swiss or foreign real estate
• Bank loans, investment loans, and margin loans
• Private loans backed by written agreements and interest statements
• Accrued but unpaid Swiss tax liabilities (federal, cantonal, municipal)

Debts in foreign currencies must be converted at the official year-end exchange rates published by the Federal Tax Administration (FTA).

Contingent obligations, such as guarantees, are generally not deductible until they crystallise into an actual enforceable debt.

Pension Assets & Retirement Accounts

Schaffhausen follows the standard Swiss approach of fully exempting certain pension assets from wealth tax:

• Occupational pension assets (2^nd 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.

Pension buy-ins and 3a contributions reduce income tax but affect wealth tax only indirectly via the balances reported on taxable vs. exempt accounts.

Valuation Adjustments

The way assets are valued can significantly affect the taxable wealth base in Schaffhausen:

• Unlisted business interests: generally valued using Swiss practitioner methods (earnings and net asset value), often resulting in values below a pure market-based estimate.
• Real estate: taxed at the official tax value (amtlicher Wert), typically below market value, which provides inherent relief.
• Movable property: everyday household goods are exempt; significant art, jewelry, and collections are taxable at fair market value.
• Cryptocurrencies and precious metals: generally valued at the FTA’s official year-end prices or other verifiable market quotations.

Marital Property & Family Context

Married couples and registered partners living together are taxed jointly in Schaffhausen. The assets of dependent children are attributed to the parents for wealth tax purposes.

Gifts and inheritances received during the year are included in the year-end wealth statement, unless they qualify for a specific exemption (for example, certain insurance or pension benefits).

Documentation & Compliance

The Schaffhausen tax administration expects consistent and complete documentation for both assets and liabilities. Common supporting documents include:

• Bank and custody account statements as of 31 December
• Mortgage and loan balance confirmations
• Private loan contracts and interest summaries
• Pension statements (2^nd pillar and pillar 3a)

Aligning income and wealth figures in the return helps avoid follow-up questions and potential assessment adjustments.

Planning Insights

• Schaffhausen’s wealth tax burden is heavily influenced by municipal multipliers; relocating within the canton can change effective wealth taxation.
• Appropriate mortgage financing on real estate can reduce taxable net wealth, but should be balanced against interest costs and risk.
• Reviewing official real estate and business valuations may reveal natural relief without complex planning structures.
• Coordinating wealth tax planning with inheritance and gift strategies is particularly relevant for Schaffhausen-based entrepreneurs and cross-border commuters.