Fiji: Worked Example of Tax on Rent

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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		(6,700)	(21,700)	(43,400)
= Taxable Income		US$11,300	US$50,300	US$100,600
Income Tax Rates3
Up to FJD8,840	20%	1,126	1,126	1,126
FJD8,840 – FJD10,000	25%	185	185	185
FJD10,000 – FJD20,000	30%	1,490	1,911	1,911
Over FJD20,000	31%	-	11,644	27,237
Annual Income Tax Due		US$2,790	US$14,866	US$30,459
Tax Due as % of Gross Income		15.50%	20.65%	21.15%
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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 1, 2007.

Notes

¹ The property is jointly owned by husband and wife. Exchange rate as of 05 October 2007: 1 USD= 1.57015 FJD.

² Estimated costs. Allowable deductible expenses are land rent (if any), local authority rates, property insurance, repairs and maintenance.

² Income tax rates for nonresidents.

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