CLOSE X

Register - if you don't have an account

Yes! Sign me up for Global Property Guide's fortnightly email newsletter.


Login - for registered users

Forgot Password?
Explore destinations
continent map couldn't be loaded Pacific Europe & Russia North America Latin America Asia Africa Middle East Caribbean

 


Financial Overview

Directory

Property Search

Global Statistics

Regional Statistics






Nov 24, 2015

Tax Example: Rent


Non-resident couple´s joint monthly rental income1 US$1,500 US$6,000 US$12,000
Annual Rental Income US$18,000 US$72,000 US$144,000
= Taxable Income US$18,000 US$72,000 US$144,000
Income Tax2
Flat Tax 25% 4,500 18,000 36,000
Annual Income Tax Due 4,500 18,000 36,000
Tax Due as % of Gross Income 25.00% 25.00% 25.00%

Notes


1 The property is jointly owned by husband and wife.

2 Exchange rate used: 1.00 US$ = 1.13 CAD

3 Gross rental income earned by nonresident individuals is generally subject to 25% withholding tax.
Nonresidents may elect to file an income tax return. By so electing, he will then be taxed on the net rental income at the federal tax rates.

 





Comments


Be the first to comment on this article!



Login or Register to submit a comment!

In order to promote open and spam-free conversations, Global Property Guide moderates commetns on all articles. You can expect that your comment will be published within 24 hours.



Compare Countries



Free Newsletter

Fortnightly updates from the global property arena directly to your inbox.


Email Address:





Connect to professional advice in Canada





PROPERTY RECOMMENDATIONS

 
Download free property reports from international research houses

Our Newsletter

 
Fortnightly updates from the global property arena directly to your inbox.

Manage subscriptions