– Loans that have usually been reported are included in the tax return. The interest that has been paid in during the year is then pre-filled.
But this does not apply to interest paid to Klarna.
– If you have paid interest to Klarna, you must enter this yourself under the item “Bank, loan and insurance” and further under “Other loans”. Note that it is not necessary to provide an “Identity number”, explains consumer economist Derya Incedursun at Nordea to Nettavisen.
There are over 1.2 million Norwegians who use Klarna’s app every month. Klarna is a service and an app that offers card payment, invoice and partial payment.
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Change previous years
– If you are not sure how much you have paid in interest, you can check your purchase history on the Klarna website or in the app, where you will also find your annual statement, says Incedursun.
She further explains that if you have paid interest to Klarna in previous years without recording this, you can still go back and make changes. The tax return can be changed back to 2020.
– If you had an outstanding debt to Klarna at the end of 31 December 2023, you can also enter this amount as a loan under “Other loans”.
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Many people get hangovers
According to the Swedish Tax Agency, there are 1.2 million Norwegians who will get a hangover on their taxes this year.
Consumer economist Silje Sandmæl at DNB explains that to avoid a hangover, you should go through the tax card regularly to check that everything is correct.
– Remember to register any changes throughout the year. Perhaps you have changed workplaces, got married, had a child or moved? This affects the private economy, says Sandmæl to Nettavisen.
If you have had a hangover, you can get it down by going through the information and seeing if it is correct.
– In order to reduce income tax, you should go hunting for deductions.
Tax-free rental income
Incedursun says that when you disregard the standard deduction items about which there is already a lot of information, she believes that letting is a topic that deserves attention. If you rent out part or all of your home, and there is taxable rental income, this must be stated in the tax return.
When renting for shorter periods than 30 days per rental, for example via Airbnb, income up to NOK 10,000 is tax-free.
– Income in excess of this amount, 85 per cent is considered taxable income. For example, if you earn NOK 30,000 from short-term letting during a year, NOK 17,000 of this will be taxable income, taxed at 22 per cent.
This is considered a standard deduction, and you cannot therefore claim a deduction for rental-related costs.
– For a home you do not live in yourself, all rental income is considered taxable. The tax is 22 per cent, but you can deduct costs related to the rental, such as maintenance, furniture, municipal taxes and insurance.
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Long-term rental
– Income from letting your own home is tax-free under certain conditions. If you use more than half of the home yourself, and the part you live in has a higher rental value than the rented part, the income is tax-free.
In addition, if you rent out all or large parts of the home, and the rental lasts for 30 days or more, and the income does not exceed NOK 20,000, then the income is also tax-free. If the income ends up being more than 20,000, then the entire rental amount is taxable.
Incedursun has a few rules to remember for tax when it comes to rental income:
- Rule 1 to remember: In the case of taxable rental income, you can deduct expenses related to the rental.
- Rule 2 to remember: Long-term rental is 30 days or more per rental relationship.
– In the case of tax-free rental income, you cannot deduct expenses related to the rental, and you also do not need to list the rental income in the tax return.
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