3.1.2 Other interest income
Applies to the income year 2017
If you have received interest income on money you have loaned to friends and family, for example, or interest income from life insurance, non-life insurance, etc., you must check the amount under this item and, if necessary, enter any information that is missing.
Does this item concern me?
The item concerns everyone who has:
- outstanding loans or receivables to individuals or companies and have received interest income,
- received interest on overdue salary and/or pension.
How do I enter this in my tax return?
I have received interest on a loan to someone I know
Whether you receive interest on the loan will depend on the contract you have with the person concerned. If you receive interest, you must enter the amount under this item, together with the name of the person or people you have loaned the money to.
If you have given a private loan to anyone, you must enter the loan under item 4.1.6. Under the item, you must enter the total amount that you were lending as of 31 December and the name of the person who was borrowing the money. You must do this every year in your tax return.
Tell the person you have loaned the money to that they must also remember to declare the loan under item 4.8.1 of their tax return.
Private lending is a part of your capital. The money is owed to you. Loans from private is debt reducing your fortune.
Interest income on overdue salary/pension
These items will normally be pre-completed based on information reported by your employer, so you should check that everything is correct. The amounts you should perform the check against will be shown in the annual statement of earnings, allowance and tax that you receive from your employer in January.
If the amount shown is wrong, you must change it in the tax return. You should also contact your employer to ensure that the annual statement is correct.
Interest income paid in connection with life or non-life insurance
These items will normally be pre-completed with the total amounts that you have received in interest income. The amounts will be based on what has been reported by your insurance company, so you should check that everything is correct. The amounts you should perform the check against will be shown in the annual statement you receive from your insurance company/companies in January.
If the amount shown is wrong, you must change it in the tax return. You should also contact the insurance company/companies to ensure that the annual statement is correct.
You do not need to send us any documentation for this, but you must be able to present documentation if we ask for it.
If we ask for documentation of the receivable (the loan), you must be able to provide us with a copy of the debt certificate or the agreement between the borrower and the lender.