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.