Tax Example: Rent

Taxation Researcher | April 02, 2019

Non-resident couple´s joint monthly rental income1 €1,500 €6,000 €12,000
Annual Rental Income 18,000 72,000 144,000
Less Costs3 (2,400)` (12,000) (21,000)
= Taxable Income 15,600 60,000 123,000
Income Tax Rates3
Flat Rate 22% 3,432 13,200 27,060
Income Tax Due 3,432 13,200 27,060
Capital Tax Rates4
Up to NOK400,000 0 - - -
NOK400,000 - NOK1,080,000 0.90% - 612 612
Over NOK1,080,000 1.10% - - 165
= Capital Tax Due - 612 777
Annual Income Tax Due €3,744 €15,012 €30,297
Tax Due as % of Gross Income 19.07% 19.18% 19.33%
Source:
GPG


Notes



1 The property is jointly owned by husband and wife.

2 Exchange rate used: 1.00 EUR = 10.00 NOK

3 Estimated values only. The calculations are based on the computation that costs are around €30 per sq. m. On average, the costs vary depening on the property:

  • ( New properties = €24 per sq. m.
  • Buildings 15 years or more = €30 per sq. m.
  • Older buildings = €36 - €40 per sq. m.

4 Individual taxpayers earning rental income from less than five rental units / propertis (flats, houss, etc.) are taxed at 22%.

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