Income tax on rent, worked example, in Norway
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| 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: |
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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%.
