New updates in the tax return for wage earners and pensioners

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The Norwegian name for the tax return (‘Selvangivelse’) has been changed to ‘Skattemelding for formues- og inntektsskatt’.

In the overview, you will see what changes have been made to the Tax return for wealth and income tax for the 2016 income year.

Income and wealth abroad

Pensions and disability benefits from Sweden

Pensions from Sweden will be pre-completed under item 2.2.2 of your tax return

Disability benefits from Sweden will be pre-completed under item 2.1.9

New items in the tax return

1.5.6 Are you claiming a deduction for tax paid abroad (credit deduction)?

1.5.6 Are you claiming a reduction in tax on salary earned through employment abroad?

1.5.6 Are you claiming that your tax liability as a resident has ceased (emigration)?  Please provide more information under item 5.0. See skattetaten.no

1.5.6 Are you claiming residence under a tax treaty in another country? Please provide more information under item 5.0. See skatteetaten.no.

1.5.6 Have you received salary from an international organisation or Malaysia, for which you are claiming exemption from taxation in Norway? Please provide more information under item 5.0.

1.5.6 Have you ceased to be a member of the Norwegian National Insurance scheme?

Capital value of housing

Item 4.3.2: The percentage rate to use when calculating the capital value of secondary housing has been changed from 70 percent to 80 percent.

Item 4.3.3: The capital value of holiday properties should not be adjusted upwards.

You can read more about housing here.

Donations to voluntary organisations

New item:

1.5.3 Have you carried out unpaid assignments for an organisation and received financial support from voluntary contributors?

The maximum deduction for donations is being increased from NOK 20,800 to NOK 25,000.

Guidelines to the individual items

A new feature for 2016 is that the guidelines for foreign workers and self-employed persons will not be sent out together with the tax return. Use the "Find Item” pages or the topic pages instead.

Resident on Svalbard

Wage earners and pensioners resident on Svalbard will now receive the Tax return for wealth and income tax - wage earners and pensioners, etc. 2016, in the same way as on the mainland. This means that they will be able to use the submission exemption arrangement with effect from 2016. 

1.4 - New items concerning debt and interest on debt on the mainland.

Loan amount as of 1 January in the tax assessment year on real property in Norway

Interest on loans in the tax assessment year on real property in Norway

Loan amount as of 1 January in the tax assessment year on real property on Svalbard

Interest on loans in the tax assessment year on real property on Svalbard

Other changes

Revised deductions for travel to/from work and home visits

The basic allowance is being increased to NOK 22,000.

There is still an upper limit of 75,000km.

You can therefore claim a maximum deduction of NOK 70,500 (after deduction of the basic allowance).

Home visits outside the EEA

New item 3.2.9 Home visits outside the EEA - actual expenses Deductions will be granted according to documented expenses, not distance travelled. You do not need to send in documentation unless the we ask you to do so. Find out more here.

Following the introduction of the Tax Administration Act, taxpayers can now delegate the completion and submission of their tax returns to a legal person or agent. Note! It is the person who delegates this right to others who must log in to Altinn and assign the access to other people. The right can be delegated to solicitors, accountants, auditors, consultants and others.

Mutual funds:

With effect from the 2016 income year, new rules apply to the taxation of units in mutual funds. The distinction previously made between unit trusts and bond funds (money market funds) has been abolished, with the result that all funds are now considered to be mutual funds.

The general rule is that income which shareholders receive from money market funds will be taxed at the rate of 25 percent.

A deduction for risk-free returns is given from income from basic unit trusts (unit trust dividends/sales) before the income is subject to an effective tax rate of 28.75 percent.

When you receive income from a combination fund (a fund which includes both shares and other securities), the income figure that is used for taxation purposes will be split between an interest income component and a share income component.

For the income year, the capital value of mutual funds will only be entered under item 4.1.4.

For a more detailed explanation, see:
http://www.skatteetaten.no/no/Person/Aksjer-og-verdipapirer/nye-regler-for-beskatning-av-andeler-i-verdipapirfond/

Other financial products in the tax return:

New items in the tax return for “other financial products” 3.1.13 (gains)/3.3.13 (losses)/4.1.10. These items are used to report gains, losses and capital in various financial products for personal taxpayers.

For the 2016 income year, gains, losses and capital in ETNs, warrants and subscription rights will be pre-completed in your tax return.

With effect from the 2016 income year, gains and losses on foreign currency loans must be reported by the banks and will be pre-completed in your tax return.
Only the actual foreign exchange gain and loss will be pre-completed.


Upward-adjusted share income/loss

Income from shares, etc. is included in the basis for income and wealth tax (general income). The tax rate on general income is 25%. A higher rate of tax applies on income from shares, etc. (28.75%) In order to determine the correct tax, income from shares, etc. must be adjusted upwards by a factor of 1.15. Correspondingly, losses must be adjusted upwards upon realisation. See the guidance for the Shareholder’s tax report (RF-1088).

The items in the tax return show amounts before upward adjustment. Upward adjustment is carried out automatically in the Norwegian Tax Administration’s systems, and is shown collectively before item 3.6/4.9 Total basis for income and wealth tax.

There is a separate page in the tax return which gives an overview of share income/losses from the items in the tax return and the upward adjustment amount broken down between statement submitters.

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