Inheritance tax (discontinued), 2005

Part of the increase can probably be explained by the adjustment to new tax regulations on shares and unit trusts from 2006. If the gift was given in 2005, the previous regulations were still used.

5.2 billion more in inheritance

Total inheritance amounted to NOK 22.6 billion in 2005, an increase of 5.2 billion from the previous year. Taxable inheritance made up NOK 13.2 billion, and taxable gifts NOK 9.3 billion. Of all those who received inheritance or gifts 20 per cent received values of more than NOK 1 million. Almost 40 per cent of those who received inheritance or gifts, received between NOK 250 000 and NOK 550 000.

More than NOK 2 billion in taxes

A total of 29 700 persons received taxable inheritance and gifts in 2005. The average inheritance was NOK 741 600, and the average gift was NOK 790 900. This generated taxes of NOK 2.2 billion, an increase of 36 per cent compared with 2004.

About the statistical basis

The statistics presents figures for both possession date and decision date. Possession date is the date on which the recipient takes possession of the inheritance/gift, and decision date is the date the tax collector decides on taxes in the specific cases. The statistics do not cover estates in which the tax basis is under the tax-free amount or public administrated estates.

The taxable amount was changed effective of 1 January 2003 to NOK 250 000.

Tables:

• Table 1 Number of recipients of taxable inheritance and gifts, tax basis and total inheritance tax, by possession date. The whole country. 2002-2005. NOK million
• Table 2 Number of recipients of taxable inheritance and gifts according to size of respectively inheritance and gifts. Possession date. The whole country. 2004-2005
• Table 3 Taxable inheritance and gifts according to size of respectively inheritance and gifts. Number of recipients, inheritance and gifts and per cent. Possession date. The whole country. 2005