Tax Example: Rent
October 09, 2017
|Non-resident couple's rental income1|
|Monthly Rental Income2||1,500||6,000||12,000|
|Annual Rental Income||18,000||72,000||144,000|
|= Taxable Income||18,000||72,000||144,000|
|Income Tax 3|
|Annual Income Tax Due||4,500||18,000||36,000|
|Tax Due as % of Gross Income||25.00%||25.00%||25.00%|
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 US$ = 4.00 MYR
3 Rental income earned by nonresident individuals is taxed at a flat rate of 25%.