Slate production

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Tax return for businesses - slate production.

You can claim a special deduction if you generate business income from slate production in Finnmark or the municipalities of Karlsøy, Kvænangen, Kåfjord, Lyngen, Nordreisa, Skjervøy or Storfjord in Troms.

To be eligible for the deduction, you must have run the business for more than half of the income year.

You do not need to submit RF-1177 “Landbruk” (Agriculture - in Norwegian only) in order to be entitled to the income deduction. The items concerning slate production have been removed from the form. Instead, you must calculate the correct deduction yourself based on your operating profit from slate production and any sickness benefit which replaces such business income. Do not include passive capital income in the basis.

Enter the deduction under item 3.2.17 of the tax return. The deductions for 2016 under item 3.2.15, 3.2.16 and 3.2.17 in the example below amount to NOK 54,200 plus 32 percent of income which exceeds NOK 54,200, up to a maximum deduction of NOK 142,000 per operating unit.

The deduction can only reduce the income from such enterprises down to zero. For example, if the income from such an enterprise is NOK 50,000, the deduction will be NOK 50,000.

Spouses cannot jointly claim a deduction which exceeds the threshold amounts. This also applies to registered partners and spouse-equivalent cohabitants.

Example calculation of income deduction in item 3.2.17

 

Operating profit from slate production

 

NOK 150,000

Sickness benefit which replaces business income from slate production

 

NOK 100,000

Correction for passive capital income included in the operating profit

-

NOK 0

Correction for passive capital expense included in the operating profit

+

NOK 0

Basis for slate deduction

=

NOK 250,000

 

 

 

Deduction corresponding to basis up to NOK 54,200

 

NOK 54,200

Deduction of excess basis: NOK 195,800 x 32 percent

 

NOK 62,656

Total slate deduction

=

NOK 116,856

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