Malaysia: Worked Example of Tax on Rent
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Last Updated: Oct 03, 2006
Tax Example: Rent
| Non-resident couple's joint monthly rental income1 | US$1,500 | US$6,000 | |
| Annual Rental Income | 18,000 | 72,000 | |
| Less Costs3 | (3,585) | (7,493) | |
| = Taxable Income | 14,415 | 64,507 | |
| Income Tax Rates | |||
| Flat Rate | 28% | 4,036 | 18,062 |
| Annual Income Tax Due | US$4,036 | US$18,062 | |
| Tax Due as % of Gross Income | 22.42% | 25.09% | |
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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
1 Exchange rate used: US$1 = RM4.4849.
2 The residential property is jointly owned by husband and wife, but then taxed separately (50% upon each partner).
3 Estimated costs; includes quit rent, assessment, repairs and maintenance, fire insurance, service charge, sinking fund, and management fees.
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Your Comments
posted by hooon | 2008-03-26
Professor, Hong Kong
Is interest for a mortgage deductible? That is, can one substract interest from the rental income or not?