How much tax do you have to pay – taxable value of your residential/holiday property abroad
Only when the total value of property/properties and/or other assets exceeds the taxable value of any debt you have, do you have taxable net wealth.
A so-called base deduction has also been assessed, so that you must have net wealth that exceeds this base deduction before any net wealth tax will apply.
2022 income year
For the 2022 income year, the base deduction is set to NOK 1.7 million for single people and NOK 3.4 million in total for spouses.
Net wealth that exceeds the base deduction is taxed at 0.95 percent for wealth up to NOK 20,000,000 for single people and up to NOK 40,000,000 in total for spouses. The part of the wealth that exceeds NOK 20,000,000 for single people and NOK 40,000,000 in total for spouses will be taxed at a rate of 1.1 percent.
2023 and 2024 income year
For the 2023 and 2024 income year, the base deduction is set to NOK 1.7 million for single people and NOK 3.4 million in total for spouses.
Net wealth that exceeds the base deduction is taxed at 1 percent for wealth up to NOK 20,000,000 for single people and up to NOK 40,000,000 in total for spouses. The part of the wealth that exceeds NOK 20,000,000 for single people and NOK 40,000,000 in total for spouses will be taxed at a rate of 1.1 percent.