Guam: Worked Example of Tax on Rent
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Last Updated: Jul 10, 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 | (4,890) | (17,930) | (53,790) | |
| Less Depreciation3 | (7,273) | (24,935) | (49,870) | |
| = Taxable Income | US$5,837 | US$29,135 | US$58,270 | |
| Income Tax Rates4 | ||||
| Up to US$50,000 | 15% | 876 | 4,370 | 8,741 |
| US$50,000 – US$75,000 | 25% | - | - | 2,068 |
| US$75,000 – US$100,000 | 34% | - | - | - |
| US$100,000 – US$335,000 | 39% | - | - | - |
| US$335,000 – US$10,000,000 | 34% | - | - | - |
| US$10,000,000 – US$15,000,000 | 35% | - | - | - |
| US$15,000,000 – US$18,333,333 | 38% | - | - | - |
| Over US$18,333,333 | 35%- | - | - | - |
| Annual Income Tax Due | US$876 | US$4,370 | US$10,809 | |
| Tax Due as % of Gross Income | 4.87% | 6.07% | 7.51% | |
| Thanks to: Sardoma & Associates |
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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 July 10, 2007.
Notes
1 The property is jointly owned by husband and wife, through a local corporation.
2 Estimated values.
3 Estimated values.
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