Singapore

Dec 22, 2017

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		(4,383)	(17,531)	(35,061)
= Taxable Income		13,617	54,470	108,938
Income Tax ⁴
Flat rate	22%	2,996	11,983	23,967
Annual Income Tax Due		2,996	11,983	23,967
Tax Due as % of Gross Income		16.64%	16.64%	16.64%
Source:

Notes

¹ The property is jointly owned by husband and wife.

² Exchange rate used: 1.00 US$ = 1.35 SGD

³ Estimated values. Property tax, insurance, maintenance and repairs are all deductible.

⁴ The tax rate for nonresidents is 22%.

Comments

#1 SINGAPORE REAL ESTATE | April 10, 2010

you can find an excel spreadsheet for tabulating your rental income and expenses for purpose of filing taxes with IRAS - http://www.singaporerealestate.info/blog/property-tools/income-statement-spreadsheet-rental-property/

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