Aquaculture and ground rent
Guide to records extracted from the Tax Administration help text.
In Year-end closing - Information and tax - Information - Basis values you will find the work area for Aquaculture. The area is activated by selecting 'Aquaculture' from Edit feature areas.
The area consists of the following registration pages that have conditions that specially apply to aquaculture enterprises:
Asset register
Tax depreciation
Aquaculture
The Summary-tab contains a summary of calculated values from ground rent income before and after coordination with other group companies.
Note that the area requires logging in with an active connection to the tax authorities.
The Summary-tab includes registration of conditions affecting ground rent income, including coordination with other companies in the group, and the registered values affect the final coordinated ground rent income.
Under Aquaculture taxation, for each balance depreciation, straight-line depreciation, and non-depreciable objects, it is possible to choose how this will affect the calculation of ground rent income in aquaculture.
Here are the following five options that determine the treatment in the calculation of ground rent income:
For choices marked with “partially”, it must be stated how large a proportion applies to aquaculture, and the excess is considered outside the ground rent area.
The choices made here will affect the amounts calculated in the fields of ground rent income:
When registering in the asset register, the same five choices are available, so when registering an asset card, one can choose among these five, the choices of tax depreciation, and the system will filter on the choices, so one can only choose among balance deprecations, etc. that have stated the same selection as what one wishes to register as acquisition.
Ground rent income is found under the choice Aquaculture under Information and tax - Information.
Gross ground rent income must be registered in this menu.
Purchases and sales of live fish are recorded on the Volume tab together with a specification of the volume sold and the amount of harvested fish. Harvested fish must be divided between valuation by the price council and self-determination.
Deduction in ground rent income consists of both data that are registered and data that are calculated by the Tax Administration based on other data in the aquaculture function and values from tax depreciation.
Depreciations and directly deducted investment cost are shown on the Depreciation tab with a specification of each tax object (balance deprecations or straight-line depreciated operational assets).
Below, some calculations are commented upon.
Calculated by the Tax Administration based on data in the industry specification aquaculture function.
Calculated by the Tax Administration based on data in the industry specification aquaculture function.
The first year with ground rent income is 2023, so carrying forward from 2022 or earlier is not applicable. The first year of using the field is for 2024, where carrying forward from 2023 will be possible to register here.
Calculations of calculated fields are obtained from the Tax Administration's calculations, and are sourced from the Tax Administration's calculation functions.
On the Production units tab, an overview of the production units is registered along with information about the disposal and transfer of ground rent taxable aquaculture operation.
Aquaculture permits are registered in the aquaculture function on the Wealth tab. Here, the sales value is registered, and other calculations happen automatically.
The reference account for aquaculture permits is reference account number 1042 Aquaculture Permits.
On the wealth tab, the wealth of aquaculture permits is shown on a separate line in the upper part of the image, while reference account 1042 Aquaculture Permits will show 0 in the wealth column in the lower part of the wealth image.
For sole proprietorships with aquaculture operations, the wealth of aquaculture permits must be manually registered along with account 1042 Aquaculture Permits under code 1020 Permanent concessions, patents, licenses, rights, etc.
The tax calculation is found under Information and tax - Tax Calculation under the left menu Tax expense.
Accounts specially for tax on aquaculture operation (incorporated companies etc.):
Tax costs, the tab Tax Calculation from Skatteetaten will show the Tax Administration's calculation of ground rent tax from aquaculture operation, and will automatically, from the Tax Administration's calculations, post amounts in the posts in the Tax Calculation tab:
Coordinated ground rent tax comes from coordinated negative ground rent income multiplied by the tax rate.
The Participant report is activated by going to the Area Selector under Information and tax and selecting the area Participant in a partnership. The area Participant in a partnership will automatically be activated if some partnership accounts are accounted for.
When registering a participant in a partnership, one can tick off for Participant in aquaculture activities, and then register relevant items:
Note that these values are not automatically transferred to aquaculture operation, so data from participation in SDF within aquaculture must also be registered in the ground rent calculation for aquaculture.
The values for participants are found under the menu Information and tax - Participants and choose Participants in the left menu. For each participant, values that concern the aquaculture operation are found on the Wealth/Income tab. There is a separate section Participant in Aquaculture activities here with the values
These values are calculated. All values can also be overridden on each of the participants.
Guide to records extracted from the Tax Administration help text.