Tax Example: Rent
October 12, 2018
|Non-resident couple´s rental income1|
|Monthly Rental Income2||1,500||6,000||12,000|
|Annual Rental Income||18,000||72,000||144,000|
|= Taxable Income||8,000||22,000||74,000|
|Annual Income Tax Due||2,000||5,500||18,500|
|Tax Due as % of Gross Income||11.11%||12.85%||12.85%|
Global Property Guide research
DISCLAIMER: The information contained above is marketing material only and is not written tax advice directed at the particular facts and circumstances of any person and should not be relied upon. We encourage you to discuss your particular situation with us or an independent tax advisor. This information was last updated on February 2, 2016.
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 US$ = 22.60 HNL
3 Estimated values. Income-generating expenses are deductible when calculating taxable income.
4 Estimated values.
5 Rental income earned by nonresident individuals is taxed at a flat rate of 25%.