4.1.6 Outstanding receivables (in Norway)

Item 4.1.6 Applies to the tax year 2016

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Under this item, you must enter receivables such as loans to friends and family, salary and maintenance payments you are owed and/or advances you have paid for a service you had not yet received as of 31 December.

Does this item concern me?

The item concerns people who have any of the following:

  • outstanding loans or receivables to individuals or companies as of 31 December,
  • entitlement to a service as of 31 December which you have paid for in advance,
  • maintenance payments you are owed as of 31 December.

How do I enter this in my tax return?

In the case of a right to salary that you are owed, for example, the field will normally be pre-filled with the amount that has been reported by your employer, so you should check that this is correct.

Private loans

Receivables that are more personal in nature, such as loans to family members, will not be reported, even if you have provided information on them on your tax deduction card or in previous years, and you will therefore need to add them. Under the item, you must enter the total as of 31 December and the name and address of the person who has borrowed the money. You must do this every year in your tax return. Private loans will form part of your capital because the money is owed to you. If you receive interest on the loan, you must enter it under item 3.1.

Tell the person you have loaned the money to that they must also remember to declare the loan under item 4.8.1.

How to add interest income and money others have borrowed from yor

Value

If the receivable is in foreign currency, it must be valued based on the exchange rate as of 31 December.

Secure receivables such as mortgage bonds, debt certificates, etc. must be valued at their nominal value. Unsecured receivables must be valued on a discretionary basis, independently of any write-downs.

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Documentation requirements

You do not need to send us any documentation for this, but you must be able to present documentation if we ask for it.

You must be able to document the receivable through a copy of the debt certificate or the agreement between the borrower and the lender if we ask you to do so.

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