Annual tax return for private rental property

Three reasons to choose an annual tax return with Efremtid.no

1. We have extensive experience – we have been handling tax returns since 2005. This means we know how to help you achieve a favourable annual tax return.
2. We handle everything online – you do not need to come to our office. You only fill in a simple form.
3. We guarantee ongoing contact and support – we are available on working days from 9:00 to 21:00 by phone: +47 21 38 38 21. You can ask any question about your tax return, and we will do our best to respond reliably and efficiently.

1. What does the service include?

This service is only an add-on to the private annual tax return service. Without ordering this service, we will not be able to report the rental income.

In addition to the standard tax return described above, the service includes**:**

• Entering information about costs related to renting out the property, if you rent out property to someone
• Information about the completion of the tax return and the next steps
• Support if you have additional questions

NOTE: The decision on whether the return is approved is made by the tax office in Norway. The service only covers communication between you and the tax office.

2. What information do we need?

Before we carry out the service we will ask you to complete a form. It will be sent by email after ordering the service. It is necessary to include all required information in the tax return.

3. What do we add?

Costs related to rental income (if you rent out property to someone and need to pay tax on it)

When renting out property, there are various allowances and tax exemptions. For example, for short-term rental of your own home or holiday cottage for up to 30 days, profit up to 10 000 kr is tax-free. Likewise, when renting out your own home, profits up to 20 000 kr per year are tax-free. If you rent out part of your home and you occupy most of it for residential purposes, the entire profit is tax-free. However, if you have to pay tax on the rental income (you do not meet any of the exemptions), you can also claim costs that reduce your taxable rental profit. These costs relate to all activities concerning the property and its maintenance. Examples of costs accepted by the tax office:

• Maintenance costs – renovations, repairs
• Any municipal charges (which you pay, not the tenant to the municipality)
• Insurance
• Property tax
• Utility costs: electricity, heating or cleaning (which you pay)

Costs related to improvements or post-purchase renovations are not deductible. These costs are entered in the annual tax return in the rental section together with the declaration of rental profits.

Costs related to short-term (up to 30 days) rental of your own home or holiday cottage, which you use yourself, are also not deductible.