24 billions inherited

The inheritors received cash and bank deposits worth about NOK 7 billions, and shares and securities worth about NOK 2.3 billions.

Children received about 60 per cent, while grandchildren received 10 per cent of the total values inherited in 2005.

Advancement of inheritance or gifts

Total value of the private advancements of inheritance or gifts came to NOK 16 billions in 2005. Gifts with a tax base less than NOK 100 000, or where the gifts include cash under NOK 1 million are left out.

40 per cent of the values associated with advancements of inheritance are transfers of real estate. Transfers of shares and securities constitute another significant amount - NOK 5 billions. This can be ascribed to new rules in taxation of shares and shares of unit trusts as from 2006.

Tax reductions associated with debt, beneficial rights, compensations, costs of transfer etc, tied to transferred gifts in 2005 amounted to NOK 2.1 billions.

Children and grandchildren received 93 per cent of the values of gifts transferred in 2005.