You must do the following:
You must declare the income in your tax return
Even if the holiday home is located abroad, you must declare the rental income in Norway.
- Tick "Yes" under item 1.5.6 for income abroad in the tax return
- Fill in item 2.8.5 in the tax return. Under the item, enter 85% of the rental income which exceeds NOK 10,000.
You must ensure that this is declared in your tax return every year in which you receive rental income from the holiday home.
Remember that you must also declare the property in the tax return. How you should declare it will depend on whether you have purchased, inherited/taken over or sold the property.
Amend tax deduction card?
If you have not previously updated your tax deduction card with the rental income, you should consider amending your tax deduction card.