Income tax on rent, worked example, in Singapore

Taxation Researcher | October 04, 2019

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 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%.