Nearly 4 years after the 1964 inheritance tax law was abolished, the question of reintroduction has again come to the fore. SV has announced a proposal to reintroduce the inheritance tax on inheritance and gifts. At the same time, the political picture is far more labile than before. The uncertainty will apply throughout the current Storting period. If the SV should get into a tilting position through play from KrF, it is uncertain which issues SV will prioritize. Inheritance tax can be such a case.
For those who may consider making gifts of importance, it will be important to follow the political situation. This also applies to those who have made gifts in the tax-free years. Gifts given in the form of housing or holiday homes, where the right of use is retained may be subject to inheritance tax upon reintroduction. Under the inheritance tax law of 1964, the gift was only considered granted when a substantial right of use expired. In reintroducing the inheritance tax, it is expected that a similar provision will be introduced. The prohibition against revocation under the Constitution will hardly prevent this.
For corporate interests, it is not uncommon for gifts to be given in the form of restricted shares with limited voting rights and dividend rights. Here, a proportionate value of the company was considered provided at the time of the gift. This position should be expected to be maintained even in the event of a possible reintroduction of inheritance tax.
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