Today the latest tax returns are sent out.
Today, the latest tax returns go out to employees, pensioners and the self-employed.
At the same time, the Tax Administration has calculated how many people get back on the tax or who have to pay residual tax. More than a million Norwegians thus have to settle for a boring bill instead of extra holiday money. In total, Norwegians owe NOK 24.3 billion in taxes.
On average, those who receive residual tax must pay NOK 24,000. The preliminary figures from the Tax Administration show that one in four has paid too little tax during 2020, around 180,000 more than in 2019.
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– Many people are good at adjusting the tax card throughout the year when they get financial changes, but not everyone does. It is a good idea to check the tax return carefully now, among other things to ensure that you do not end up having paid too much, says tax director Nina Schanke Funnemark.
Rise for 2.7 million
But far more people have paid too much tax through 2020 and thus get money back. The preliminary tax calculation shows that this applies to three out of four employees and pensioners.
As many as 2.7 million taxpayers get back a total of NOK 32.4 billion. On average, that means 12,000 kroner left on the tax.
In the table below, you can see the county-specific differences in how many people have money to benefit and how many receive residual tax as well as the average amount per county.
Many have already received back the money they have benefited. The tax settlement can come between the end of March and the end of October, but most employees and pensioners get their money back in April, May or June.
– If you and any spouse submit the new tax return on skatteetaten.no, you can receive the tax settlement with money in the account within a couple of weeks after you have submitted it, says Funnemark.
If you do not submit, but wait until it is delivered automatically, the settlement will come in June at the earliest. You can also be taken out for control, which will delay the settlement somewhat, the tax director states.
Important to check this out this year!
Good news this year also applies to those who receive residual tax. In the past, a small interest rate has been added to the tax to be repaid. It has now been removed. And you do not have to pay back earlier than before, although the settlement may come earlier:
– But you do not have to pay residual tax until even if the settlement comes earlier. And this year there is zero interest on the residual tax, says Helen Rist, senior communications adviser in the Tax Administration, to Nettavisen.
The tax return is pre-filled, but not completed, the agency emphasizes. You must fill in some information yourself, such as deductions, extra income or values in other countries. It is therefore important to check that the information is correct. And there is one thing in particular that you need to check thoroughly this year, Helen Rist encourages:
– If you have had travel expenses that you can deduct, these are not pre-filled. Due to the corona situation, you must state this yourself this year, if you have had deductible travel expenses despite the pandemic.
Here you can see how much we owe in taxes and how much we owe in the different counties:
Also read: New mortgage rates can give you a real backlash
More people than usual have received residual tax, and travel deductions that have lapsed, due to home office, may be part of the explanation. Therefore, it is important to check that this information is correct, Rist points out:
– Take care of this if you have a long journey to work and have not had a home office.
Low interest rates have resulted in somewhat lower deductions on mortgages, but this has probably not meant as much as the deductions for arrears tax in total, Helen Rist estimates.
Also read: Only four out of ten do this: – Check your tax return thoroughly!
Easy to calculate
The most common reason why you get money back, or arrears tax to pay, is that your personal finances in 2020 did not exactly match the calculations in the tax card. The tax card determines how much tax is deducted from your income in advance, throughout the year.
Lower deductions for both loan interest and travel to work may have contributed to someone paying too little tax in 2020 and ending up with residual tax.
This year, no one has been able to fill in a deduction for travel between home and work in the tax return, because quite a number of employees did not travel to the workplace as usual in 2020.
– You can use our calculator to check how much deduction you are entitled to for the days you had to travel to work, says Schanke Funnemark.
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