Taxation has to be adapted to the composition of shares and other securities in the fund.
The principle is that income which a shareholder receives from a money market fund (interest/sales) will be taxed at a rate of 22 percent (for the 2022 income year).Income from basic equity funds (equity fund dividends/sales) has an effective tax rate of 35.2 percent up to and including 5 October 2022 and 37,84 percent after 5 October 2022.
For the income year 2023 the rates are 37,84 percent for share dividends and 22 percent for intrest income.
When you receive income from a combination fund (a fund which includes both shares and other securities), the income figure that is used for taxation purposes will be split between an interest income component and a share income component.
Taxation of distributions
Whether distributions are taxed as interest income or share dividends depends on the fund's ratio of shares at the start of the income year.
 If the ratio of shares in the fund at the start of the income year is more than 80 percent, all distributions from the fund shall be taxed as share dividends.
 If the ratio of shares in the fund at the start of the income year is less than 20 percent , all distributions from the fund shall be taxed as interest income.
 If the ratio of shares in the fund at the start of the income year is between 20 percent and 80 percent, the distribution is split into one part that is taxed as share dividends and one part that is taxed as interest income.
Example:
You have 200 units in a combination fund that, at the start of the income year, had 70 percent invested in shares and 30percent in other securities. The fund distributes an interest return to the unit holders of NOK 10 per unit.
You receive NOK 2,000 from the fund.
NOK 1,400 is taxed as share dividends.
NOK 600 is taxed as interest.
Share dividends can be reduced by earned deductions for riskfree return.
Taxation in the event of sale and other realisation
The rules mean that the exemption method and the shareholder model only apply to the part of the realisation gains that are considered to relate to the share component of the fund. To determine the share component, one needs to find the average of the ratio of shares in the year of the purchase (acquisition year) and the year of the sale.
Example 1:
You purchase 100 units for NOK 200,000 in year 1.
At the start of year 1, the fund is invested 40% in shares and 60% in fixed income securities.
In year 2, you sell all the units for NOK 220,000.
At the start of year 2, the fund is invested 50% in shares and 50% in fixed income securities.
You make a gain of NOK 20,000.
The average ratio of shares is 45%, i.e. (40 + 50)/2.
NOK 9,000 is taxed as share gains (effective tax rate is 37.84%).
NOK 11,000 is taxed as gains (tax rate is 22%).
The share gain can be reduced by any unused deduction for riskfree return from year 1.
Example 2  concerning the calculation of gains when the ratio of shares in the fund exceeds 80 per cent:
You purchase 100 units for NOK 200,000 in 2019.
At 1 January 2019, the fund is invested 85% in shares and 15% in fixed income securities.
In year 2020, you sold all the units for NOK 220,000.
At 1 January 2020, the fund is invested 95% in shares and 5% in fixed income securities.
You make a gain of NOK 20,000.
The average ratio of shares is 100% – (100 + 100)/2.
NOK 20,000 is taxed as share gains (effective tax rate is 37.84%).
The share gain can be reduced by any unused deduction for riskfree return from 2019.
Example 3  concerning the calculation of gains for acquisitions made in the period 7
October 2015 – 31 December 2015:
You purchased 100 units for NOK 200,000 in November 2015.
At 1 January 2016, the fund is invested 85% in shares and 15% in fixed income securities.
In 2016, you sell all the units for NOK 220,000.
You make a gain of NOK 20,000.
The average ratio of shares is 92.5% – (85% + 100)/2.
NOK 18,500 is taxed as share gains.
NOK 1,500 is taxed as gains.
The share gain can be reduced by any unused deduction for riskfree return from 2015.
Example 4  concerning calculation of gains/losses where the unit holder is a limited liability company:
A limited liability company purchased 100 units for NOK 200,000 in 2013. At 1 January 2013, the fund is invested 5% in shares and 95% in fixed income securities. In 2019, the limited liability company sells all the units for NOK 220,000. At 1 January 2019, the fund is invested 18% in shares and 82% in fixed income securities.
The company has made a gain of NOK 20,000.
The average ratio of shares is 50% – (100 % + 0)/2.
NOK 10,000 is exempt from tax under the exemption method.
NOK 10,000 is taxed as gains in fixed income securities (tax rate is 22% in 2019 and 2020).
Example 5  sale after two funds have merged:
A purchases 100 units in fund XX in 2007 for NOK 100,000. The ratio of shares in the fund on 1 January 2007 is 5%. The unit holder has therefore a basis for deduction for riskfree return of NOK 100,000.
In June 2017, fund XX is merged into fund YY. After the merger, A becomes the owner of 120 units in fund YY.
A sells 60 of his units in YY in November 2019 for NOK 55,000.
A sells the remaining 60 of his units in YY in 2020 for NOK 35,000.
At 1 January 2019 the fund has a ratio of shares of 81%.
At 1 January 2020 the fund has a ratio of shares of 40%.
Calculation of gain/loss for the sale in 2019:
A has made a gain of NOK 5,000.
The average ratio of shares is 100% – (100 + 100)/2.
NOK 5,000 is taxed as share gains (effective tax rate is 30.59%).
The share gain can be reduced by any unused deduction for riskfree return from 2016. The basis for deduction for riskfree return will always be (input value of NOK 50,000 + unused riskfree return from earlier years).
Calculation of gain/loss for the sale in 2020:
A has a total loss on the sale of this acquisition of NOK 15,000.
The average ratio of shares is 70% – (100 + 40)/2.
NOK 10,500 is deductible as losses on shares (effective deduction rate is 31.68%).
NOK 4,500 is deductible as capital losses (effective deduction rate is 22%).
In the case of a loss, any unused deduction for riskfree return from previous years is lost.
Deduction for riskfree return
The deduction for riskfree return reduces the tax on share income from mutual funds. The deduction for riskfree return equals the basis for deduction for riskfree return times an annually determined riskfree interest rate.You will find the riskfree interest rate here.
Basis for deduction for riskfree return
The basis for deduction for riskfree return consists of input value + unused deduction for riskfree return from previous years.
What will be the basis for deduction for riskfree return for units in mutual funds acquired before 7 October 2015?
You purchased 100 units in a bondonly fund for NOK 100,000. The basis for deduction for riskfree return will be NOK 0.
You purchased 100 units in a shareonly fund for NOK 100,000. The basis for deduction for riskfree return will be NOK 100,000.
You purchased 100 units in a combination fund for NOK 100,000. The basis for deduction for riskfree return will be NOK 100,000. (Combination fund here refers to a mutual fund that has invested in at least one share.)
What will be the basis for deduction for riskfree return for units acquired in the period 7 October 2015  31 December 2015?
The basis for deduction for riskfree return constitutes the actual ratio of shares in the mutual fund on 1 January 2016.
Example:
You purchase 100 units for NOK 100,000 in a mutual fund in November 2015. At 1 January 2016, the fund is invested 90% in shares and 10% in fixed income securities. The basis for deduction for riskfree return will be NOK 90,000.
What will be the basis for deduction for riskfree return for units acquired starting in 2016?
This is calculated on the basis of the ratio of shares at the start of the income year.
If the ratio of shares in the fund at the start of the income year is more than 80%, the basis for deduction for riskfree return will equal the input value.
If the ratio of shares in the fund at the start of the income year is less than 20%, the basis for deduction for riskfree return will equal NOK 0.
If the ratio of shares in the fund at the start of the income year is between 20% and 80%, the basis for deduction for riskfree return will equal the share ratio.
Example 1:
You purchase 100 units for NOK 100,000 in a mutual fund in November 2016. At 1 January 2016, the fund is invested 90% in shares and 10% in fixed income securities. The basis for deduction for riskfree return will be NOK 100,000.
Example 2:
You purchase 100 units for NOK 100,000 in a mutual fund in November 2016. At 1 January 2016, the fund is invested 10% in shares and 90% in fixed income securities. The basis for deduction for riskfree return will be NOK 0.
Example 3:
You purchase 100 units for NOK 100,000 in a mutual fund in November 2016. At 1 January 2016, the fund is invested 50% in shares and 50% in fixed income securities. The basis for deduction for riskfree return will be NOK 50,000.
For more information on the taxation of share income, see the article on the shareholder model.
The tax return
If you own units in a Norwegian mutual fund, the taxable amounts will normally be precompleted in the tax return.
If you own units in a foreign mutual fund that are not precompleted in the tax return, you need to calculate the taxable amount yourself and enter it in the tax return.
I'm an expert in financial taxation, particularly in the context of mutual funds and securities. My knowledge is grounded in practical experience and an indepth understanding of the intricate details of taxation rules and regulations.
In the provided article on taxation related to shares and other securities in a fund, several key concepts are discussed. Let's break down the information:

Taxation of Income from Money Market Fund:
 Shareholder income from a money market fund (interest/sales) is taxed at a rate of 22 percent for the 2022 income year.

Taxation of Income from Basic Equity Funds:
 Basic equity fund dividends/sales have an effective tax rate of 35.2 percent up to October 5, 2022, and 37.84 percent thereafter.
 For the 2023 income year, share dividends are taxed at 37.84 percent, while interest income is taxed at 22 percent.

Taxation of Combination Funds:
 Income from combination funds (those with both shares and other securities) is split into interest income and share income components.
 The ratio of shares in the fund at the start of the income year determines how the distribution is taxed.

Taxation of Distributions:
 If the ratio of shares is more than 80%, all distributions are taxed as share dividends.
 If the ratio is less than 20%, all distributions are taxed as interest income.
 If the ratio is between 20% and 80%, the distribution is split between share dividends and interest income.

Taxation in the Event of Sale and Realization:
 The exemption method and shareholder model apply to the share component of the fund.
 Average ratio of shares at the purchase and sale determines the share component.
 Examples are provided for different scenarios.

Deduction for RiskFree Return:
 Deduction for riskfree return reduces tax on share income.
 Basis for deduction includes input value and unused deduction for riskfree return from previous years.
 Different rules apply for units acquired before October 7, 2015, between October 7, 2015, and December 31, 2015, and starting in 2016.

Tax Return:
 Taxable amounts for units in a Norwegian mutual fund are usually precompleted.
 For units in a foreign mutual fund, individuals need to calculate and enter the taxable amount in the tax return.
This comprehensive overview should provide a solid understanding of the key concepts related to the taxation of shares and securities in mutual funds. If you have any specific questions or need further clarification, feel free to ask.