Do I have to pay tax on income from the rental of residential properties other than the one I live in?

Income from the letting of residential properties constitutes taxable income except when:

  • the owner uses at least half of the property as their home (calculated according to rental value), 
  • all or a high proportion of the property is let for up to NOK 20,000 during the income year.

You can receive a deduction for running expenses relating to the let property.