Income tax on rent, worked example, in Antigua and Barbuda
This content is archived and no longer updated.
Non-resident couple´s rental income1 | US$1,500 | US$6,000 | US$12,000 | |
Monthly Rental Income2 | 1,500 | 6,000 | 12,000 | |
Annual Rental Income | 18,000 | 72,000 | 144,000 | |
Less Expenses3 | 25% | 4,500 | 18,000 | 36,000 |
= Taxable Income | 13,500 | 54,000 | 108,000 | |
Income Tax4 | ||||
Flat rate | 20% | 2,700 | 10,800 | 21,600 |
Annual Income Tax Due | 2,700 | 10,800 | 21,600 | |
Tax Due as % of Gross Income | 15% | 15% | 15% |
Notes
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 US$ = 2.70 ECD
3 Estimated values. Income-generating expenses are deductible when calculating taxable income. Allowable deductions include repairs, utiltiies, loan interest on the property, depreciation expenses, and other income- generating expenses.
4 Rental income earned by nonresident individuals is taxed at a flat rate of 20%.