Deduction - short-term letting of your own home and holiday home

You’re not entitled to a deduction for costs incurred in relation to the short-term letting of your own home, even if parts of the rental income are tax liable. The same applies to short-term letting of your own holiday home.

Since it’s difficult to estimate the costs relating to letting when the property is also used by you, a so-called standard deduction of costs is granted instead. The standard deduction is 15% of the rental income, which means that only 85% of the rental income exceeding NOK 10,000 is taxable income.

For short-term letting of other dwellings/holiday homes that you do not live in or use, the rental income will be taxable from the first krone and you’re entitled to deductions of costs related to the letting.