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Singapore: Worked Example of Tax on Rent

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Last Updated: Mar 20, 2007

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
Less Costs2 (4,383) (17,531) (35,061)
= Taxable Income 13,617 54,470 108,938
Income Tax Rates3
Non-resident tax rate 20% 2,723 10,894 21,788
Annual Income Tax Due US$2,723 US$10,894 $21,788
Tax Due as % of Gross Income 15.13% 15.13% 15.13%
Thanks to:
Foo Kon Tan Grant Thornton

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 March 20, 2007.

Notes

Foo Kon Tan Grant Thornton is a member firm of Grant Thornton International. Grant Thornton International is not a worldwide partnership. Member firms of the international organization are independently owned and operated.

1 The property is jointly owned by husband and wife. Exchange rate used: US$ 1 = SGD 1.527.

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

3 The tax rate for non-residents is 20%.

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