Tax for personal tax payers, 1999

The statistics show that property income amounted to NOK 64.6 billion or about 8 per cent of taxable gross income of Norwegian households this year. Interest on bank deposits, sales of shares and share dividends totalled NOK 46.3 billion.

NOK 10 billion in realized capital gains of shares

1999 was a very good year for shareholders. From 1998 to 1999, realized capital gains of shares rose by all of 60 per cent, to nearly NOK 10 billion. A total of 155 900 persons made an average of NOK 63 900 in realized capital gains of shares in 1999.

More earn higher share dividends

Share dividends also rose in 1999. Received share dividends totalled NOK 19.1 billion. Compared with 1993 this was an increase of 160 per cent. On the other hand, the number of recipients of share dividends was relatively stable in the same period, and increased by only 17 000 persons, or by about 6 per cent. In 1999, 281 300 received an average of NOK 68 000 in share dividends, while the average for the 264 400 recipients of share dividends six years earlier was NOK 27 700. In 1993, 1 300 persons received NOK 1 million or more in share dividends. In 1999 the number had increased to nearly 3 400 persons.

High interest income

While capital gains on shares and share dividends have fluctuated in step with the stock market, the trend in interest income is influenced by interest rates. As a result of interest rate increases in 1998 and 1999 interest income rose these two years. From 1998 to 1999 interest income increased by 34 per cent, from NOK 12.8 billion to NOK 17.2 billion. This yielded average interest income of NOK 4 900 in 1999.

We save more in securities

Property income trends must also be viewed in connection with the strong growth in the financial property people have. Both bank savings and saving with other securities such as shares, bonds and primary capital certificates have increased substantially in recent years. Saving with securities has become increasingly popular. From 1998 to 1999, combined gross financial capital increased by nearly NOK 80 billion, or by about 14 per cent. While bank deposits rose by 9 per cent, the value of other investments in the financial market rose 18 per cent. In 1999, combined saving in shares and other securities amounted for the first time to a greater share of gross financial capital than all bank savings combined.

Low growth in real capital

The value of the real capital of Norwegian households stood almost still between 1998 to 1999, and increased only by NOK 6.2 billion to NOK 496.7 billion. A major explanation can be that the assessment value of homes was not adjusted in 1999. Total gross property in 1999 was NOK 1 160 billion.

7 per cent increase in debt

Personal debt increased by nearly NOK 58 billion, totalling NOK 776.8 billion at the end of 1999. People with debt had an average of NOK 352 300 in debt compared with NOK 332 000 in 1998. However, because debt has not increased as much as financial capital, the net property of households increased by NOK 28 billion from 1998 to 1999.

The statistical basis

The statistical basis covers 4 633 002 persons taxable to Norway. Of these, 4 475 910 reside in the country, while 157 092 are decedent estates, emigrated persons or persons who for other reasons pay taxes to Norway without living here. In the table we have used figures for resident persons aged 17 and up, who at the end of 1999 totalled 3 477 840 persons.

Tables:

• Table 1 Main entries from the tax return account. Million kroner and the number of residents 17 years and over that have amount on the different income or property codes. 1997, 1998 or 1999
• Table 2 Tax return account for residents 17 years and over, by sex. Average for all persons and average for persons that have amount on the different income codes. 1999
• Table 3 Tax return account for resident 17 years and over. 1993-1999. Million kroner
• Table 4 Tax return account for residents 17 years and over. 1993-1999. The percentage changes from last year
• Table 5 Tax return account for residents 17 years and over, by sex. 1999. Million kroner and the number of all persons that have amount on the different property codes
• Table 6 Residents 17 years and over, by size of share dividends received. The number of persons 17 years and over and share dividends in million kroner. 1993-1999
• Table 7 Tax return account for residents 17 years and over, by sex. 1999. Million kroner and per cent
• Table 8 Tax return account for resident persons 17 years and over, by age. Average in kroner. 1999
• Table 9 Tax return account for resident persons 17 years and over, by gross income. Average in kroner. 1999
• Table 10 Property account for resident persons 17 years and over. Gross income, by quartile. 1999. Percentage of the total
• Table 11 Property account for resident persons 17 years and over, by age. Average in kroner. 1999
• Table 12 Tax return account for resident persons 17 years and over who received share dividends. Share dividends, by quartile. Average in kroner. 1999
• Table 13 Tax return account for resident persons 17 years and over who received share dividends. Share dividends, by quartile. Average in kroner. 1993
• Table 14 Main entries from the tax return for resident receivers of social security benefits, by type of pension. Average in kroner. 1999
• Table 15 Resident receivers of social security benefits, by type of pension. Average gross income and the number of pensioners. 1999
• Table 16 Main entries from the tax return for resident receivers of social security benefit, by sex. Receivers of the minimum benefit and supplementary pension. Average in kroner. 1999