The wealth is the totality of the valued goods. Tax law distinguishes between different types of assets, which are regulated in the Valuation Act (BewG). It belongs to the group of general tax laws, as it contains the central regulations for tax valuation law and these regulations apply to several types of tax.
Agricultural and forestry assets
The agricultural and forestry assets to which all economic goods belong business are intended to serve agriculture and forestry (Section 33 BewG). The individual components of this property are specified in Section 34 BewG.
Basic assets
The real estate, including undeveloped and developed land, z. B. Rented residential, commercial and mixed-use properties as well as single or two-family houses (Section 75 BewG). The demarcation of real estate from agricultural and forestry assets is regulated in Section 69 BewG.
Business assets
Business assets (Section 95 (1) BewG), which includes all parts of an economic unit that belongs to the owner and that serves as the main purpose of running a business. So z. B. all assets belonging to domestic corporations, associations of persons and estates (Section 97 BewG).
The sum of the values of all types of assets results in the raw assets, from which the debts and other deductions are deducted in order to obtain the total assets.
The determination of assets is important as a basis of assessment for numerous types of tax. The wealth tax itself has not been levied since 1997, even if it has not been expressly repealed by a change in the law.
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