Wealth tax

Tax on an entity's holdings of assets

A wealth tax, also called a capital tax, equity tax, or net wealth tax, is a tax on an entity's holdings of assets or an entity's net worth. This includes the total value of personal assets, including cash, bank deposits, real estate, assets in insurance and pension plans, ownership of unincorporated businesses, financial securities, and personal trusts (a one-off levy on wealth is a capital levy). Typically, wealth taxation involves excluding an individual's liabilities, such as mortgages and other debts, from their total assets.

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