Income tax on rent, worked example, in Trinidad and Tobago

This content is archived and no longer updated.
Non-resident couple's joint monthly rental income1 US$1,500 US$6,000 US$12,000
Monthly Rental Income (2) 1,500 6,000 12,000
Annual Rental Income 18,000 72,000 144,000
Less Expenses (3) 25% 4,500 18,000 36,000
= Taxable Income 13,500 54,000 108,000
Income Tax 4
Up to TND1,500 25% 3,375 13,500 27,000
Annual Income Tax Due US$2,085 US$12,713 US$29,797
Tax Due as % of Gross Income 18.75% 18.75% 18.75%
Source:
Global Property Guide

Notes


1 The property is jointly owned by husband and wife.

2 Exchange rate used: 1.00 US$ = 6.33 TTD

3 Estimated values. Income-generating expenses are deductible when calculating taxable income. Allowable deductions include maintenance and repair costs, insurance, rates and taxes, gas, electricity, telephone, security, pest control, wear and tear(depreciation) on furniture, and interest expense.

4 Rental income earned by nonresident individuals is taxed at a flat rate of 25%.

 

Subscribe to Global Property Guide

Access up-to-date real estate data and statistics.

Get behind the paywall and more...

Get the data behind 80+ countries for $49 per month.
Latest Market Reports
Rental Yields
House Price Indices
Rent Price Indices
Square Meter Prices
Median Property Prices
Median Rent Prices
Mortgage Rates
Property Taxes
Quarterly Trackers
Quarterly Market Overviews

Subscribe to Global Property Guide

Access up-to-date real estate data and statistics.

This page requires a Professional plan

Get the data behind 80+ countries for $99 per month.
Historical & Current Rental Yields
Historical & Current Purchase Prices
Historical & Current Rent Prices
Historical & Current m2/sqft Prices