This is an archived release.
Popular savings scheme for youth
One of four younger than 34 years, is investing in the ”Home investment savings for young people with tax deductions” (BSU). By the end of 2006 the BSU-deposits accounted for a total of NOK 12.6 billions.
From 2001 to the end of 2006 the BSU-deposits increased by NOK 2.8 billions. The bulk of the deposits are made in December in order to achieve tax deductions the same year (see the graph), while the withdrawal of the deposits to home investments are spread over the year. In 2001 192 000 tax payers used BSU, while this figure was 223 000 in 2005.
BSU is a savings product which gives tax deductions for people younger than 34 years old. The tax deduction is 20 per cent of a yearly deposit up to NOK 15 000. Totally, one can achieve tax deductions for deposits up to NOK 100 000. The deposits must be used for investment in housing or as down payment of a housing loan.
The statistics is now published as Banks and mortgage companies.