Item 4.2.3

4.2.3 Home contents and movable property, including boats with a sales value of less than NOK 50,000

Applies to the income year 2017

Under this item, you must enter the value of home contents and other movable property (NOT motor vehicles/caravans) and boats with a sales value of less than NOK 50,000. The value which is to be entered under the item is the sales value minus the tax-free amount of NOK 100,000.

Does this item concern me?

The item concerns everyone who has assets in the form of home contents/movable property which

  • has a value of in excess of NOK 100,000
  • are used privately or
  • used in a let dwelling.

The item also concerns people who own a boat with a sales value of less than NOK 50,000.

Rates and key figures

When valuing your home contents, you should use the amount insured as a starting point.

The sales value of home contents and moveable property is calculated as follows:

Amount insured/acquisition price as new Sales value
of the first NOK 1,000,000 10 percent
of the next NOK 400,000 20 percent
of the excess amount 40 percent


Boats must only be included in the above calculation if they are covered by a home contents and moveable property insurance policy.

If you have home contents/movable property which is not insured, you must use the amount that it would cost you to purchase home contents/movable property as new.

If a boat is insured separately, the presumed sales value should be set at 75 percent of the amount insured.

If the boat is not insured separately or is not covered by a home contents/movable property insurance policy, it must be valued at the presumed sales value.

Example valuation for home contents/movable property and boats

Amount insured:

Home contents/movable property, excluding boat  NOK 1,100,000

Boat  NOK 40,000

  Movable property NOK 1,000,000 x 10% NOK 100,000
+ NOK 100,000 x 20% NOK 20,000
= Presumed sales value NOK 120,000
+ Boat NOK 40,000 x 75% NOK 30,000
= Total NOK 150,000
Tax-free amount NOK 100,000
= Tax value which is entered under item 4.2.3 NOK 50,000

How do I enter this in my tax return?

The value that is entered under the item is the sum of the sales value minus NOK 100,000.

Boats with a presumed sales value as of 1 January 2018 of NOK 50,000 or more must be entered under item 4.2.4.

The tax-free amount is joint for spouses and children who are assessed together, even if their incomes are assessed separately. The tax-free allowance can be split between spouses as they wish.

Documentation requirements

You do not need to send us any documentation concerning this, but you must be able to present it upon request.