How does being a surviving heir affect your tax?
Inheritance tax was abolished in 2014, but if you inherit or acquire values, this might affect your own tax.
Your tax can be changed if you have
- received an increase to your pension
- received an increase to your income, for example, rental income
- had changes in connection with debt, bank deposits, property or other assets
- had changes in connection with interest income or debt interest
- sold an inherited real property with gain or loss
- sold shares with gain or loss
You should check your tax deduction card
To ensure correct deduction of tax on your income and to avoid underpaid tax, you should check your tax deduction card as soon as possible.
It might be a good idea to check your tax deduction card in detail, also in the year following the death.
This is what you must check in your tax return
- inherit a residential property, holiday home, car, or similar, that you own at the end of the year? Make sure this is stated in your tax return. You must enter the information yourself if it’s missing from your tax return.
- If you inherited values of more than NOK 100,000, you must state this in your tax return. You enter the value of the inheritance under “gifts and inheritance”.
- Did you sell an inherited residential property? Check if you can claim deductions or must enter gains
- Did you inherit shares? See information about Inherited listed shares and unlisted shares
Specific information if
Basis for the property tax on an inherited residential property
Many municipalities use the Tax Administration’s calculated market values as the basis for their property tax. In case of doubt about how your municipality has calculated property tax, you can check the property tax notification received from the municipality.
If the municipality itself has valued the property, you must appeal to the municipality for a change in the basis for the property tax.
If the municipality uses the Tax Administration’s calculated market values, you must appeal to the Tax Administration for a reduction in the basis for the property tax.
There are special tax rules relating to children and young people who have received payment in connection with compensation or insurance for personal injury or loss of provider.