1.5.1 Young people's housing savings in another EEA State (not Norway)
Applies to the income year 2017
Under this item, you must enter the savings amount in an account for housing savings for youth (BSU) in an EEA State other than Norway. You will receive a 20 percent deduction from your tax based on the savings amount deposited. The maximum savings amount is NOK 25,000 per year.
Does this item concern me?
The item concerns everyone who has an account for housing savings for youth (BSU)in an EEA State other than Norway.
In order to be granted the deduction, you must send the annual statement from the savings institution to your tax office. Remember to add your name and national ID number (11 digits) to the annual statement when you submit it. You must also remember to fill in item 3.1.11/ item 4.1.9 Interest income/deposits in foreign banks.
Housing savings for youth in Norway
Housing savings for youth (BSU) in Norway is a deduction in the tax itself and must not be entered in the tax return. The amount will be pre-completed based on information that has been reported by the bank you are saving with. You must check that the amount in the tax settlement is correct. If the amount is not correct, you must contact your bank.
Rates and key figures
The maximum deduction is NOK 5,000 per year. The total deposit excluding interest cannot exceed NOK 300,000.
You do not need to send us any documentation concerning this, but you must be able to present it upon request.
The first year you also have to enclose form RF-1236. The form must be signed by the savings institution holding the account.