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Jul 07, 2016

Tax Example: Rent


Non-resident couple´s rental income1      
Monthly Rental Income2 1,500 6,000 12,000
Annual Rental Income 18,000 72,000 144,000
Less Expenses3 (5,201) (27,184) (54,585)
= Taxable Income 12,799 44,816 89,415
Income Tax4
Up to ZAR 188,000 18% 2,304 4,834 4,834
ZAR188,000 - ZAR 293,600 25% - 3,771 3,771
ZAR293,600 - ZAR 406,400 30% - 862 4,834
ZAR406,400 - ZAR 550,100 35% - - 7,185
ZAR550,100 - ZAR 701,300 38% - - 4,115
Over ZAR 701,300 40% - - -
Annual Income Tax Due 2,304 9,468 24,740
Tax Due as % of Gross Income 12.80% 13.15% 17.18%
Thanks to:
Nexia International

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 July 7, 2016.

Notes


1 The property is jointly owned by husband and wife, but then taxed separately (50% upon each partner).

2 Exchange rate used: 1.00 US$ = 14 ZAR

3 Estimated values only. Only expenses actually incurred may be deducted such as repairs and maintenance, insurance, collector´s commission and bank charges.

4 Rental income earned by nonresident individuals is taxed at progressive rates.






Comments

#1 THAMENDRIE | June 15, 2010

please provided a detailed list of expenses that can be deduted from rental income before taxes,this is my main source of income,

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