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New to Norway, cofused about cost of living and taxes

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Charitra

Hi
I need little guidance from all of you.
I got a job offer (3-year contract ) in Norway(Bergen) and my salary will be NOK 480 000 gross per annul.

Can you please tell me few things:
1. How much is tax in my case ? is it 30% ? or more?
2. Can you tell me how much my per month salary can be (after tax deduction) ?
3. Can I rent a room+toilet in 500EURO/month ?

I am currently in Seoul, South Korea and planing to come Norway in March.

Thank you very much in advance.

Sincerely
Charitra-K Mishra, Ph.D.
Assistant-Professor at Catholic Medical School. Seoul.

GaryO

You tax for that income will be around 36% actually.  For me it is:

Earned: 528000 NOK
Paid Tax: 144880
(Note: Tax varies greatly from person to person because of tax reductions for owning a house etc, as I do).

It's a little hard to show this as it actually 'is' because there is something called holiday allowance in Norway, each June no-one pays tax (at all for that month) and they actually get paid holiday allowance they have earned from the previous year.  In December we pay 50% less tax than normal as well.  We make up for this by paying 'extra' in tax for all the other months though which is why the 36% tax seems high.  That's 36% for 10 months and 18% for 1 month and 0% for 1 month (when you get your holiday allowance (feriepenger) it is not taxed).  This is done to help with paying for holidays etc by default so it helps people automatically rather than needing to save up, I really like the system but it took a bit of getting used to.

Now, it varies but here is an example for me.
Monthly pay: 43,935.83
Tax that month: -13,059.00
Actual pay: 33,769.33 (this includes other bonuses and things which inflates the value).

Of 480000 you can expect to pay roughly (very roughly) 172800 in tax meaning you have 307200, /12 = 25600 / month.

My math could be off >_< but that would be ball-park numbers.  It can vary a lot depending on how you set up your tax card, any tax-breaks you get, for example tax reductions when buying a house, BSU (bank savings that can only be used to pay for a house), driving to work and claiming the millage back etc.

So to answer:
1: Probably 36%
2: Around 25600 NOK / month (this can be off depending on a lot of things...)
3: You could probably find a room for this price, but I'm not very well acquainted with Bergen (I live near Oslo) so I'm not the best to answer that question.

Best of luck with the move if you decide to come!
Gary

no_clue

Hi Charitra,

Gary O was faster than me.... but my numbers are pretty much the same.  You tax deduction also depends on your family status (married /single and if you husband  is working or not. )

A single room with bathroom for 500 Euros in Bergen city center will be difficult to find, but maybe possible if you move further outside. At that price you usually have to share kitchen and bathroom with other occupants. I recommend you look for yourself under finn.no (eiendom - bolig til leie)  or hybel.no.

Charitra

:thanks: Thank you so much GaryO and no_clue
Thats perfect to make me understandable.
I think, I will be able to spend ~1000USD for my rent. Also, I could save ~1000USD/month, possibly.

Great help by you.. appreciated...thanks to this forum..

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