Money transfers to Norway

Hello,

If you mean inheritance tax, it had been abolished in Norway since 2014 after Sweden did it 2005. And the amount your son has mentioned had been the maximum tax free amount up until 2014.

Here is the Norwegian Tax office website if you need further more information   https://www.skatteetaten.no/en/contact/

Cheers!

Thanks for replying, Finnbo, and for giving me the link to the Tax office. But just to clarify... I have no assets in Norway. What I've been wondering about is: how much can I send to a Norwegian individual who is resident in Norway (and pays taxes there on income earned there) without making them liable to tax on my transfer.

The obvious answer for most countries would be "There is no limit. Don't be silly. Send as much as you like to them - either as a gift or a loan. The recipient would not pay any tax at all on your gift." But my son has it in his head that he or his children would have to pay tax on money I sent over there, and the most I could send tax-free in any one year would be NOK460,000. That doesn't make sense to me, but he swears it's true. What do you reckon?

What I also understood is there is no limit as long as the gift comes from a private individual and from a private bank account to a private bank account. However it's good to have a deed of gift and inform the bank in advance so that the bank knows the story behind and they also usually inform the tax office if the amount is big (150000 SEK counts as big enough to inform the tax office in Sweden and all Scandinavian banks have almost the same guidelines).

But to be on the safe side one can mention all the gifts in the income declaration where, there is a column or an additional form to fill other information, even though it is not an income and also not required according to the tax office. 

But Gordon I might could have missed something here because my Norwegian is not good as my Swedish so best thing to do is to write to the Norwegian Tax office then you get direct first hand information. Cheers!

Thanks very much, Finnbo. I'll do that. But I'd be writing in English; would that be a problem, do you think?

You are welcome Gordon! Off course you can communicate with them in English. I think the legal term in this case should be "inheritance advance". Cheers!