Deduction for young people's housing savings (BSU)

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If you have deposited savings in your BSU account, you are entitled to a deduction from your tax in the form of a certain percentage of the deposited amount. There are maximum limits on the amount you can save in a year and the total amount of savings you can have in the account. See the bottom of the page.

You can obtain a deduction for BSU up to and including the year in which you reach the age of 33. In order to be entitled to the deduction, your bank must have notified the Tax Administration that you actually deposited money in your account before the end of the year. You must also have sufficient income for your tax to be enough to make the BSU deduction from. If your income is not sufficient to enable this, the deduction will lapse. Also, if you do not have income and do not pay tax, you cannot get a deduction.

How to enter the deduction in your tax return

If your bank has reported the deduction to the Tax Administration, you will find it on a separate line under "Provisional calculation of taxes and duties" on the penultimate page of your tax return:

 

If the deduction is not shown in your tax return, you must ask the bank to notify the Tax Administration of the amount.

The rate applies for the income year 2015

If you need rates for the tax return, you must check the rates for 2016

By "income year", we mean the year in which the income or expense arises. The rates for the income year are used in the tax return and tax calculation.


By "assessment year", we mean the year after the income year and in which the tax return for the income year must be submitted/checked and the tax calculated.

Rate for tax deduction 20.0%
Maximum annual savings amount NOK 25,000 
Maximum total savings amount under the scheme NOK 200,000

More about housing savings for youth (BSU)

In order to get a deduction, the deposit must be in the BSU account no later than December 31 in the relevant income year.

If you have questions regarding withdrawing money from the BSU account and what the money can be used for, contact your bank.

Why haven't I got a preliminary tax calculation on my tax return?

There could be a number of reasons why you haven't received a preliminary tax calculation on your tax return.

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