|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 Expenses 3||25%||4,500||18,000||36,000|
|= Taxable Income||13,500||54,000||108,000|
|Up to AUD 87,000||32.50%||4,388||17,550||21,750|
|AUD87,000 - AUD 180,000||37%||-||-||15,198|
|Over AUD 180,000||45%||-||-||-|
|Annual Income Tax Due||4,388||17,550||36,948|
|Tax Due as % of Gross Income||24.38%||24.38%||25.66%|
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 US$ = 1.30 AUD
3 Estimated values. Income-generating expenses are deductible when calculating taxable income.
4 Rental income earned by nonresident individuals is taxed at progressive rates.
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