Do I have to submit form RF-1224 Personal income from sole proprietorships or complete the fields for this in addition to the tax return for self-employed persons, etc.? If you submit an income statement (RF-1175, RF-1167 orRF-1242), you must also submit form RF-1224 Personal income from sole proprietorships as an attachment to your tax return. This form is included in the Business Tax Return..
Some small sole proprietorships with gross operating revenues of NOK 50,000 or less are exempt from the requirement to submit an income statement. For more information, see Who may be exempt from the obligation to submit an income statement?. If you make use of such a submission exemption arrangement, submitting form RF-1224 is voluntary. If you do not submit the form, the amount under "Operating profit/loss" in the tax return will be used as your calculated personal income. If you wish to calculate your personal income, you should submit form RF-1224 together with your tax return. You must submit form RF-1224 if your calculated personal income is negative, either from the 2015 income year or from negative personal income for carryforward from previous years.
Why do I have to submit form RF-1224 “Personal income from sole proprietorships” when the business income has already been entered under item 2.7.6 of the tax return for self-employed persons?
You should transfer positive business income from item 0402 of the income statement (RF-1175 or RF-1167) to item 2.1.3, 2.7.1, 2.7.2, 2.7.3, 2.7.4, 2.7.5 or 2.7.6 of the tax return. These items are included in general income. On general income, you must pay equalisation tax to the state and income tax to the municipality and county council.
If you are a member of the Norwegian National Insurance scheme, you must pay National Insurance contributions as a personal taxpayer. National Insurance contributions are determined on the basis of the calculated personal income in item 1.6.1 and/or 1.6.2 of the tax return, among other things. You should specify the personal income which you enter in these items in form RF-1224 Personal income from sole proprietorships.
The sum of the personal income also forms the basis for calculating surtax to the state.
In 2016, I received work remuneration from a business assessed as a partnership (KS, ANS, etc.). Should I enter the work remuneration in form RF-1224 “Personal income from sole proprietorships?
No. You should enter the amounts from form RF-1221 Deltakerens oppgave over egen formue og inntekt i selskap med deltakerfastsetting (Partner’s statement of own capital and income in businesses assessed as partnerships – in Norwegian only) directly in the tax return.[BH1] You should enter the work remuneration from item 1160 of form RF-1221 under item 1.7.1 of the tax return, or from item 1162 of RF-1221 under item 1.7.4 of the tax return. In addition, the work remuneration should be included in the amount which you transfer from item 1140 of form RF-1221 to item 2.1.3, 2.7.7, 2.7.8 or 3.2.19 of the tax return.
I share income from a joint enterprise with my spouse, registered partner or spouse-equivalent cohabitant. Do we both need to submit form RF-1224 “Personal income from sole proprietorships”?
No, it is sufficient for the main practitioner of the business to submit an income statement and the personal income form. See also the article concerning How spouses share income from joint enterprise.
What risk-free interest rate should I enter under item 1.8 of form RF-1224 “Personal income from sole proprietorships”?
See here for information on the maximum risk-free interest rate you can choose in item 1.8 of form RF-1224 Personal income from sole proprietorships.
How do I take account of the fact that I run an agricultural or reindeer husbandry business when I fill in form RF-1224 Personal income from sole proprietorships?
If you received positive calculated personal income during the year, you should enter this under item 1.36 of the personal income form and under item 1.6.2 of the tax return.