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: |
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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%.