Income tax on rent, worked example, in Singapore

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:

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%.