Tax for personal tax payers, 2001

In the period 1998 to 2001, the total deductions in income have increased by close to 40 per cent, while the gross income has increased by a scant 20 per cent. The deductions in income for residents 17 years and older with deduction in 2001 amounted to an average of NOK 65 700. The minimum deduction amounted to about half of the deductions in income, while interest paid amounted to close to 30 per cent. The increase in the minimum deduction is caused by the changes in the maximum rate, which was NOK 40 300 in 2001. The minimum deduction amounted to a total of NOK 114.4 billion and interest paid amounted to NOK 65.4 billion. The total of 2 291 000 persons with interest, paid an average of NOK 28 500 in interest on debt.

From 2000 to 2001, the loss by sale of shares increased by 180 per cent, to NOK 9.5 billion. This gave an average of NOK 66 500 for the 143 000 persons who sold shares with a loss. Almost twice as many persons sold shares with a loss in 2001 compared to the previous year.

Reduced ordinary income

Ordinary income was almost NOK 3 billion less in 2001 than the previous year due to the fact that the deductions in income increased more than the gross income. This is the first time since 1993 that ordinary income has been reduced. The gross income increased by NOK 26.3 billion from 2000, to NOK 855.6 billion in 2001.

Sharp reduction in received dividends

Total received dividends for households were sharply reduced in 2001. This was partly causedby the additional assessed tax on dividends for parts of 2000 and the whole of 2001. Persons who received dividends got a reduced deduction for received dividends greater than NOK 10 000, a rule that was abolished as of 01.01.2002. While there was an increase of NOK 10,1 billion in received dividends for personal shareholders from 1999 to 2000, a decline of NOK 16 billion appeared from 2000 to 2001. Despite this, 24 200 more persons received dividends in 2001 compared with the previous year. Received dividends amounted to NOK 19.1 billion in 1999, NOK 29.3 billion in 2000 and NOK 13.2 billion in 2001. 82 per cent of all received dividends got the deduction for received dividends reduced in 2001.

Gain by sale of shares was reduced by 55 per cent to NOK 8.3 billion from 2000 to 2001. In 2001, the 167 100 persons who sold shares got an average gain of NOK 40 400. The previous year 234 400 persons sold shares with an average gain of NOK 78 800.

Gross income

24 400 residents 17 years and older didn't have a gross income. In the other side of the scale one can see that the number of persons with gross income greater than NOK 1 million had been reduced with 5 per cent from 2000 to 2001. The latter can be explained by less received dividends and a decline in the stock market.

Gross income, which includes wages and salaries, pensions, entrepreneurial income and capital income, amounted to an average of NOK 245 600 for persons with an income in 2001. Average income from wages and salaries was NOK 231 500 in 2001, an increase of 5.5 per cent from the previous year.

The 10 per cent persons with the highest gross income, received over 27 per cent of all income, and the income amounted to in average NOK 679 100. The 1 per cent with the highest gross income has over 7 per cent of the income with an average of NOK 1 752 000.

Reduced net property

The debt increased more than the gross property, and this lead to a reduction in the net property when we calculate in fixed prices. Total gross property amounted to as much as NOK 1 376 billion, while net property was NOK 428 billion.

From 2000 to 2001, the tax value of securities registered in the Norwegian Registry of Securities was reduced by NOK 622 billion. In the same period the tax value of securities not registered in the Norwegian Registry of Securities, increased by close to 5 per cent to NOK 146.7 billion. Total bank deposits increased by 10 per cent from 2000, to NOK 393.5 billion. Persons with bank deposit had an average deposit of NOK 116 500.

The tax value of shares of unit trusts decreased by 19 per cent from 2000 to 2001, not unexpected when one takes the development in the stock market in account.

More debt

The debt increased by close to NOK 92 billion or 11 per cent, to NOK 948.4 billion in 2001.

Persons with debt had an average of NOK 417 400 in debt compared to NOK 383 800 the previous year. The age group 67 - 79 years had the highest average of NOK 459 100.

About the statistical basis

The statistical basis covers 4 690 252 persons taxable to Norway, including 1 983 persons on Spitsbergen (Svalbard). Of these, 4 520 879 reside in the country, while 169 373 are decedent estates, emigrated persons or persons who for other reasons pay taxes to Norway without living here. In the tables we have used figures for resident persons aged 17 and older, who at the end of 2001 totaled 3 508 217 persons. As of 2000 people assessed on Spitsbergen (Svalbard) are included in the statistics. There were 1 458 resident people age 17 and older taxable to Spitsbergen (Svalbard) in 2001. Most of them are assessed both on the mainland and on Spitsbergen (Svalbard).

Tables:

• Table 1 Main entries from the tax return account. Million NOK and the number of residents 17 years and over that have amount on the different income or property codes. 1999, 2000 and 2001
• Table 2 Main entries from the tax return account. Resident persons 17 years and older. 1993-2001. At constant prices. 1993=100
• Table 3 Main entries from the tax return account. Resident persons 17 years and older, by sex. Average for all persons and average for persons that have amount on the different income or property codes. 2001
• Table 4 Main entries from the tax return account. Resident persons 17 years and older, by age. Average in NOK. 2001
• Table 5 Gross income by decil of resident persons 17 years and over. Average and per cent. 1999, 2000 and 2001
• Table 6 Imputet income and property of owner-occupied dwellings, by county. Resident persons 17 years and over. Average for persons that have amount on the different income codes. 2001
• Table 7 Residents 17 years and older, by size of share dividends received. The number of persons 17 years and over and share dividends in million NOK. 1993-2001
• Table 8 Property account for resident persons 17 years and older, by age. Average in NOK. 2001 (Corrected 10 April 2003)
• Table 9 The number of resident persons 17 years and older, by size of gross income. 1993-2001
• Table 10 Resident receivers of social security benefits, by type of pension. Average gross income and the number of pensioners. 2001
• Table 11 Main entries from the tax return for resident receivers of social security benefit, by sex. Receivers of the minimum benfit and receivers of supplementary pension. Average in NOK. 2001