Ghana: Worked Example of Tax on Rent
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Tax Example: Rent
| Non-resident couple's joint monthly rental income1 | US$1,500 | US$6,000 | US$12,000 | |
| Annual Rental Income | 18,000 | 72,000 | 144,000 | |
| = Taxable Income | 18,000 | 72,000 | 144,000 | |
| Income Tax Rates | ||||
| Flat Rate2 | 15% | 2,700 | 10,800 | 21,600 |
| Annual Income Tax Due | US$2,700 | US$10,800 | US$21,600 | |
| Tax Due as % of Gross Income | 15% | 15% | 15% | |
Thanks to: |
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DISCLAIMER: The information contained above is marketing material only and is not written tax advice directed at the particular facts and circumstances of any person and should not be relied upon. We encourage you to discuss your particular situation with us or an independent tax advisor. This information was last updated on October 3, 2006.
Notes
1The residential property is jointly owned by husband and wife, and is taxed jointly.
2Non-residents rental income is subject to flat tax rate of 15%. No deductions are allowed.
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