Taxation in Norway

The Norwegian tax office will start sending out the tax form for people. For small potatoes like us, it's more of a good news than bad news, because we pay our taxes in deduction from paychecks and usually we would get some tax back instead of paying money out of our pocket. Although I am not sure about my status this year.

For those of you who are interested in how much tax we pay, I got some info from a brochure and sharing it here with you all:

- The first 38850 you earn in a year is free of tax (double for married couple)
- Normal income tax for single person is 36%
- After the first 420000 (adjusts with inflation), the tax becomes 45%
- After the first 682500 (adjusts with inflation), the tax becomes 57%
- Investment gain/loss tax is 28%/28%, for every 100 bucks you lose, you get 28 bucks back for tax deduction
- For interests of mortgages, you get 28% back as well.
- There are other deductions as well, like children, daycare, savings etc.
- Wealth tax, 0.2% between 700000 and 1.08mill. anything above is 0.4%

I am expecting the letter from them this week, if I get tax back from the government, I will get them in the month of June with interest. If I have to pay more tax, I can pay before the end of April to avoid interest.