Income tax on rent, worked example, in Cayman Is.
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$144,000 |
| Income Tax2 | |||
| No income tax | - | - | - |
| Annual Income Tax Due | - | - | - |
| Tax Due as % of Gross Income | 0.00% | 0.00% | 0.00% |
| Source: Global Property Guide research |
|||
Notes
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 US$ = 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.
Comments
Be the first to comment on this article!
Login or Register to submit a comment!
In order to promote open and spam-free conversations, Global Property Guide moderates commetns on all articles. You can expect that your comment will be published within 24 hours.