Global Property Guide

Financial Information for the Residential Property Buyer


Tax Example: Rent

Last Updated: December 22, 2017

Non-resident coupleĀ“s rental income1
Monthly Rental Income2 1,500 6,000 12,000
Annual Rental Income 18,000 72,000 144,000
Less Expenses3 (4,383) (17,531) (35,061)
= Taxable Income 13,617 54,470 108,938
Income Tax 4
Flat rate 22% 2,996 11,983 23,967
Annual Income Tax Due 2,996 11,983 23,967
Tax Due as % of Gross Income 16.64% 16.64% 16.64%
Source:
GPG

Notes


1 The property is jointly owned by husband and wife.

2 Exchange rate used: 1.00 US$ = 1.35 SGD

3 Estimated values. Property tax, insurance, maintenance and repairs are all deductible.

4 The tax rate for nonresidents is 22%.

Comments

Singapore Real Estate | April 10, 2010

you can find an excel spreadsheet for tabulating your rental income and expenses for purpose of filing taxes with IRAS - http://www.singaporerealestate.info/blog/property-tools/income-statement-spreadsheet-rental-property/

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