Your page tax return is out, and many have already been built and checked whether they are getting a tax refund or whether you have to pay arrears. Although very much comes completed by the Tax Administration and many in fact do not even check your tax return, it is advisable to check whether the information is correct.
READ ALSO: deductions all cohabitants must check
For despite the fact that the Tax Administration knows very much about you, it’s also very much the Tax not know about you. As you travel distances and therefore may be entitled to a deduction in connection with traveling to and from work. Maybe you can also claim a deduction for detour to deliver children to child care.
Have you made new loans, traded bank or refinanced loans during 2015 should also be special attention:
Not sure? – Before it up!
Has this resulted in expenses, such as that you have paid an appraiser for a new tariff – or you have paid entry fees in the bank, this is something you can lead as a deduction on your tax return.
BEFORE IT UP: – Are you sure? – Before it up! encourage consumer economist Kristina Picard in Storebrand.
– I absolutely think this may be relevant to many at a time when multiple switching bank and move houses. In addition there are many borrower up at home for example, to buy a car or redecorate. If the bank has taken charge for this, usually in the form of a new establishment fee, it can provide a tax deduction, says Kristina Picard, consumer economist at Storebrand, to Dinside.
Are you unsure? There are really no doubt about what to do:
– If you are unsure whether the expense is deductible, bring them up! urges Picard.
READ ALSO: Check your tax return with BankID for mobile phones
What constitutes deduction less taxes?
Example:
You have 200,000 in income in 2015. You require deduction of NOK 10,000. The tax base your reduced from 200,000 to 190,000 and you get 2,700 crowns less estimated taxes. Ie NOK 10,000 x 0.27 = 2.700 million less.
(Source: Skatteetaten.no)
You can deduct a lot, and most of the banking and credit-related deduction is also already reported, and for many it is then plain sailing. But remember that cohabitants themselves must allocate borrowing rates and debt burden in the tax return for what has reality, as all debt and liabilities often reported on the main loan holder. And remember also that you can get a deduction for interest on private loans, such as if you have borrowed money from someone you know.
However, the cherry on the cake for you or you who have switched bank, refinanced or made more in loans during 2015:
You can also claim a deduction for:
- the costs of raising loans, also establishment fees .
- Financing Costs in connection with the conversion of loans to get lower interest rates and the costs of appraiser.
ALSO READ: Do you have children ? Then you should check these deductions
What is really “charge”?
The formulations above what you can claim a tax deduction, taken from Tax Administration deductions supervisor. But what does this? What is it you can claim a deduction for?“The costs of raising loans, also arrangement fee” – what kind of costs are we talking about here that you can lead to deductions? And this applies only to mortgage or it may also apply to other types of loans?
– This could be all sorts of types of loans, mortgages, car loans and consumer loans. Costs are usually a setup fee, but also any other fees you paid. This you should list yourself, and fees will usually arrive by the papers you signed when you took out the loan, explains Picard to Dinside.
Here you must therefore able to look up the papers you signed, and check what you may have paid in fees.
HERE The deductions must be entered here, in item 3.3.1
Deduction of tax if you’ve got lower interest rates
It set more clean records over the past year, most recently with the reduction in interest rates to a policy rate of 0.5 percent in March. There are also several banks that have followed up this reduction on to Norges Bank to reduce borrowing in the bank.
Have you changed your bank or made more in loans in 2015, it is very likely that you can be entitled to a tax deduction.
According to the Tax Administration, you can get “deduction for financing costs in connection with the conversion of loans to get lower interest rates and the costs to the surveyor.”
what “financing costs” is it really talking about?
– If you have refinanced, such as increased loan amount, or exchanged bank to lower interest rates, so you get a deduction for the expenses you have incurred in connection with this, tells Picard to Dinside.
– for example some have gained a new appraised, and spending on surveyor gets you 27 percent deduction for. Cost valuation 5.000 million, you get 1.350 million in reduced taxes. The same with the arrangement fee. While a registration fees of refinancing is only at a few hundred pounds, it is not uncommon for establishing fees for new loan is at 2.000 million. For this you can get 540 million in reduced tax if you lead it up, explains Picard.
So this is something you have to remember, track down the papers and agreements – and bring up as a deduction.
But where do you find this information, and what should you look for in your papers? For it is hardly “before this as a deduction in the tax return” …?
– Have you made new loans or refinancing, you have signed the loan papers the agreement must specify how much you paid in entry fees. You may be reported on your tax return. Have you got new tariff, you enter the amount of the invoice from the valuer, explains Picard.
Much retrieving
There may be much to gain in deductions. It is not the full amount that is deductible, but 27 percent of the amount. For tax in 2016, it is only 25 percent.
– In general, for every 1,000 kroner you list in deductions, you get 270 million in reduced taxes. Then there are some deductions that are calculated differently, such as travel allowance as a rate per kilometer driving.
– If you are unsure whether the expense is deductible, bring them up! urges Picard.
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