Tax Example: Rent
November 26, 2015
| Non-resident couple's joint monthly rental income1 | US$1,500 | US$6,000 | US$12,000 |
| Annual Rental Income | US$18,000 | US$72,000 | US$144,000 |
| = Taxable Income | US$18,000 | US$72,000 | US$144,000 |
| Income Tax2 | |||
| No income tax | - | - | - |
| Annual Income Tax Due | - | - | - |
| Tax Due as % of Gross Income | 0.00% | 0.00% | 0.00% |
| Source: Global Property Guide research |
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Notes
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 US$ = 0.82 KYD
3 There are no income taxes in the Cayman Islands. Rental income earned by nonresident individuals are not subject to any income tax.
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