The tax burden will be less in 2021 – E24

These are some of the many changes to the laws and regulations that will go into effect on January 1.

Then the government introduces a new maximum rate for property tax. This year, municipalities can collect a maximum of 5 per thousand in property taxes. In 2021, the maximum rate is set at 4 per thousand.

Ten Questions and Answers: This You Must Know About BSU Before the New Year

Pension account

Next year a new plan will be introduced with a separate pension account. It means, among other things, that pension income from a previous job can be collected and managed together with the current employer’s pension capital.

Young people saving at BSU experience a tightening as homeowners lose the tax deduction for the money now included in the scheme. The maximum amount of savings increases from NOK 25,000 to NOK 27,500.

Starting January 1, you can receive more expensive gifts from your employer. The employer can only give you the gift when the requirement that the gift be part of an overall business plan is removed. The limit is increased from 2000 to 5000 crowns.

Collection right and annual fee

Electric car owners living in housing associations now get a legal charge right. At their own expense, they can set up charging points at the housing association. The charging box and power consumption are covered by the unit bracket. The housing association will bear the costs of improving the electricity grid and infrastructure. There are 8,700 housing associations in the country.

Electric car owners must also bear an annual fee at the same level as a New Year’s motorcycle.

VAT in processing

The alternative treatment will no longer be exempt from VAT. The rate is generally introduced from the New Year, but for osteopathy and naprapathy it is introduced from July 1 and for acupuncture from October 1. VAT is also introduced on cosmetic treatments and cosmetic surgery that are not medically justified.

Starting in the New Year, it will also be possible to buy over-the-counter homeopathic medicines outside of pharmacies.

The maximum deductible limits for health services are now modified and merged. The new maximum deductible limit will be NOK 2,460.

Tax reduction

The Progress Party’s bow brand introduces a series of tax breaks on popular cross-border products:

• Taxes on beer and wine are reduced by 10 percent.
• Non-alcoholic beverages have a 50 percent tax reduction.
• The snus tax is reduced by 25 percent.
• The tax on chocolate and confectionery disappears.

The air passenger tax will be eliminated for the time being as part of the crown measures.

Workers who have voluntarily quit or been laid off now must wait longer to receive unemployment benefits. The waiting time increases from 12 to 18 weeks.

New law of successions

It is becoming more important than ever for domestic partners to write a will after extensive changes to the New Years Inheritance Law.

Cohabitants without children have no inheritance rights, while cohabitants with joint children have an inheritance right of up to 4G. Living heirs receive a larger share of the total pot than today. The lower limit is increased from 1 million to 15 G, which corresponds to around 1.5 million crowns.

The National Insurance Law is also amended so that minimum pensioners no longer receive a higher pension if they support a spouse or children.

Tighter tourist fishing

There will be slightly stricter rules for foreign tourist fishermen in Norway. To get the catch out of the country, the fish must be caught under the auspices of a registered tourist fishing company.

Until now, it has been possible to bring 10 kilos of fish that have not been caught in registered tourist fishing companies. The quota that can be taken out of the country is reduced from 20 to 18 kilos. Foreigners can also take fish out of the country only twice a year.

Norwegian fish farmers must pay a production fee of 40 øre per kilo of fish sold. The tax will benefit coastal municipalities and the scheme is expected to generate 500 million a year.