What is capital income (kapitalindkomst)?
Capital income — in Danish kapitalindkomst — is the tax box that collects interest, gains on bonds and gains on ETFs and funds that are not on the Danish positive list. Unlike share income, it is not taxed on its own but added to your other income. The rate therefore depends on what else you earn — typically 37–42% for positive net capital income in 2026. That is usually more than the 27% that applies to share income at the bottom.
A worked example (2026)
Your ETF rises 10,000 kr. during the year (mark-to-market).
- If it is on the positive list: share income, 27% = 2,700 kr. (below the progression limit).
- If it is not on the list: capital income, about 37% = about 3,700 kr. — and up to 42% if you pay top-bracket tax.
Same fund, same return, 1,000–1,500 kr. more in tax every year. That is why the positive list is worth checking before you buy.
What is capital income
- Interest on bank accounts and bonds.
- Price gains on bonds (for private individuals a de minimis limit of 2,000 kr. a year applies to net gains and losses).
- Gains on bond funds and on ETFs/foreign funds not on the positive list — by the mark-to-market principle.
- Interest expenses (negative capital income) — e.g. mortgage and car loans.
It is the net figure that is taxed: interest received minus interest paid. If you have a large mortgage, your net capital income is typically negative, and extra capital income then merely reduces a deduction — it is not taxed at a high rate.
Positive and negative — two different rates
If your net capital income is positive, it is taxed as described, about 37–42%. If it is negative (you pay more interest than you receive), you get a deduction worth about 25–33% — lowest for amounts above 50,000 kr. (100,000 kr. for couples). It is not symmetrical, and that is one reason share income is often preferable: there, a loss is worth as much as a gain, just within the same box.
The typical beginner's mistake
Buying a thematic ETF without checking the positive list and only discovering in January that the gain is capital income every year — at up to 42%. Check the list with the fund's ISIN before you buy. Afterwards it cannot be changed.
How you see it in Kiggo
Kiggo does not calculate your tax and does not look up tax status — the list changes every year, and the tax authority is the final word. But Kiggo shows the fund's ISIN on the ETF page, so you can check the positive list on skat.dk before you buy. In the app's glossary, capital income sits alongside the other Danish tax words.
Related terms
Frequently asked questions
What is the rate for capital income in 2026?
There is no single rate — it depends on your other income and your municipality. Positive net capital income is typically taxed at 37–42%. The exact figure depends on your situation — use the calculator on skat.dk.
Are bonds capital income?
Yes. Both the interest and the price gains. That also applies to bond funds and bond ETFs, which is why they are not allowed in an aktiesparekonto.
What is the difference between share income and capital income?
Share income is a box of its own: 27/42%, losses only against share gains. Capital income is stacked on your salary: typically 37–42%, and losses (interest expenses) are deducted at a lower value. Shares and equity funds on the positive list are share income; the rest is capital income.
Kiggo explains — Kiggo does not advise. We never tell you what to buy or sell, and key figures can only be compared between companies in the same industry. The decision is yours. Last updated 2026-09-23.
Written by Claus Frisch, founder of Kiggo. Not an adviser, not a bank — Kiggo explains, you decide.
