Tax on property income in Fiji
Effective Tax Rate on Rental Income |
|||
| Monthly Income | US$1,500 | US$6,000 | US$12,000 |
| Tax Rate | 14.00% | 14.00% | 14.00% |
| Click here to see a worked example | |||
INDIVIDUAL TAXATION
Nonresident foreigners are taxed on their Fiji-sourced income. Married couples are assessed and taxed jointly. However, the wife can elect separate taxation with regard to her personal income (employment income, inheritance, own savings, and assets acquired from her own savings).
INCOME TAX
Social Responsibility Tax
Social responsibility tax is levied at progressive rates.
SOCIAL RESPONSIBILITY TAX 2020 - 2021 |
|
| TAXABLE INCOME, FJD (US$) | TAX RATE |
| Up to 270,000 (US$135,000) | 0% |
| 270,000 - 300,000 (US$150,000) | 23% on band over US$135,000 |
| 300,000 - 350,000 (US$175,000) | 24% on band over US$150,000 |
| 350,000 - 400,000 (US$200,000) | 25% on band over US$175,000 |
| 400,000 - 450,000 (US$225,000) | 26% on band over US$200,000 |
| 450,000 - 500,000 (US$250,000) | 27% on band over US$225,000 |
| 500,000 - 1,000,000 (US$500,000) | 28% on band over US$250,000 |
| Over 1,000,000 (US$500,000) | 29% on all income over US$500,000 |
| Source: Global Property Guide | |
SOCIAL RESPONSIBILITY TAX 2017 |
|
| TAXABLE INCOME, FJD (US$) | TAX RATE |
| Up to 270,000 (US$135,000) | 0% |
| 270,000 - 300,000 (US$150,000) | 13% on band over US$135,000 |
| 300,000 - 350,000 (US$175,000) | 14% on band over US$150,000 |
| 350,000 - 400,000 (US$200,000) | 15% on band over US$175,000 |
| 400,000 - 450,000 (US$225,000) | 16% on band over US$200,000 |
| 450,000 - 500,000 (US$250,000) | 17% on band over US$225,000 |
| 500,000 - 1,000,000 (US$500,000) | 18% on band over US$250,000 |
| Over 1,000,000 (US$500,000) | 19% on all income over US$500,000 |
| Source: Global Property Guide | |
Nonresidents are entitled to the following allowances:
- Wife allowance of FJD1,200 (US$600), provided that the wife does not elect for a separate assessment
- Widow or widower allowance of FJD1,000 (US$500)
RENTAL INCOME
The taxable income is gross rent less income-generating expenses. Allowable deductions in calculation of taxable income are land rent (if any), local authority rates, property insurance, depreciation, repairs and maintenance. The depreciation rate for buildings is generally 1.25% per annum.
CAPITAL GAINS
Capital gains tax is levied at a flat rate of 10%. Taxable capital gains are calculated by deducting acquisition costs and incidental expenses from the selling price or market value of the property.
PROPERTY TAX
There are no property taxes in Fiji.
CORPORATE TAXATION
INCOME TAX
Companies earning income and capital gains in Fiji are subject to corporate income tax at a flat rate of 20%. Income-generating expenses are all deductible in computing for the taxable income.