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$144,000|
|No income tax||-||-||-|
|Annual Income Tax Due||-||-||-|
|Tax Due as % of Gross Income||0.00%||0.00%||0.00%|
Global Property Guide research
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 US$ = 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.