New deadline for easier share savings

New deadline for easier share savings

Also in 2019, you can move money you have in funds and shares to a share savings account without having to pay tax on unrealised gains.

Initially, the deadline for the move was set for the end of 2018/2019, but just before the New Year, it was decided that the scheme will now also apply until the end of 2019.

If you want to realise shares, equity funds and equity certificates, this actually triggers tax. From 1 September 2017, however, you have had the opportunity to move all the aforementioned securities into a separate share savings account without incurring tax. After moving, you can buy and sell within this account without triggering tax. The scheme also allows you to withdraw the original deposit without having to pay tax on it.

You must pay capital gains tax as usual on the day you are due to receive the return on your investments.

Move to Kraft Fondene?

A share savings account can only contain shares and equity funds with an equity component of more than 80 per cent. Combination funds and fixed income funds are therefore excluded from the scheme.

In Norway, fund savers have mutual funds totalling NOK 140 billion. An overview from the Norwegian Securities Association shows that around NOK 70 billion of this money has been moved into the scheme.

Therefore, it is still possible for many Norwegians to take advantage of the benefits of a share savings account.

It's easy to transfer your existing share savings account (ASK) to Kraft Fondene. Although this is a new scheme, many people have already switched from their regular securities account to ASK. If you already have an ASK, you can move it to us without realising any tax. The entire sum is invested in our global equity fund Kraft Global.

How to move your share savings account to Kraft Fondene:

1. Log in to your account
2. Tick for transfer of ASK (share savings account)
3. Provide your contact details and answer some simple questions
4. Sign with BankID