Qualifying income

Each month, employers, Nav and other entities report the gross income they have paid during the previous month to the Norwegian Tax Administration. The Housing Bank obtains and uses this information to help calculate your qualifying income. The types of income reported include wages/salary, benefits, grants, pensions, payments in arrears and holiday pay. 

Income from capital includes interest income, dividends from shares and investment funds, and profit on renting out or selling property. Only income from capital exceeding NOK 6,672 per person counts towards your qualifying income.

Personal income from self-employment is considered income. Your annual income from self-employment is split over 12 months.

Foreign income includes wages/salary, pensions and other income from abroad – regardless of where you pay tax on the income.

If you have high net wealth, a wealth adjustment may be applied to your income. Net wealth is gross assets less debt. Gross assets may include bank deposits, the tax value of your home or other property, cars, shares and other possessions. Debt may include mortgages, student loans and other debt. If you (or the other parent) have high wealth because you pay tax on behalf of a child with wealth, you can ask us to deduct the child’s wealth from your net wealth. The wealth adjustment is calculated as follows:

• Net wealth less wealth threshold × 65% = annual wealth adjustment
• If you live in a rental property the wealth threshold for net wealth is NOK 333,557. If you own your own home, the wealth threshold is up to NOK 700,468 of the tax value of your main home. If your net wealth exceeds the wealth thresholds, 65 percent of your wealth above the threshold is added to your income as a wealth adjustment (converted into a monthly amount).

Examples of how the wealth adjustment is calculated if you live in a rental property

• Your net wealth is NOK 750,000
  NOK 750,000 minus NOK 271,049 = NOK 333,557 × 65% = NOK 270,688
  Wealth adjustment per month: NOK 270,688 ÷ 12 = NOK 22,557
• Your net wealth is NOK 350,000
  NOK 350,000 minus NOK 333,557 = NOK 16,443 × 65% = NOK 10,688 
  Wealth adjustment per month: NOK 10,688 ÷ 12 = NOK 890 per month

Examples of how the Wealth adjustment is calculated if you live in your own home, a jointly owned property, or a flat in a housing cooperative or housing company:

• Your net wealth is NOK 1,000,000, including NOK 800,000 for your main home
  NOK 1,000,000 minus NOK 700,468 = NOK 299,532 × 65 % = NOK 194,696 per year
  Wealth adjustment per month: NOK 194,696 ÷ 12 = NOK 16,224
• Your net wealth is NOK 580,000, including NOK 460,000 for your main home
  NOK 580,000 minus NOK 460,000 = NOK 120,000 × 65% = NOK 78,000
  Wealth adjustment per month: NOK 78,000 ÷ 12 = NOK 6,500 per month

If you have any tax-free rental income you must tell us. Tax-free rental income may be income from renting out a room in your own home or renting out a basement flat or equivalent. 

• Income and wealth of children under the age of 18
• Child benefits
• Child support payments
• Cash-for-care benefits
• Lump-sum grants for maternity or adoption
• Child care benefit for working single parents
• Basic benefit and attendance benefit
• Social assistance
• Taxes