Income tax on rent, worked example, in Montserrat
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| 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 | 18,000 | 72,000 | 144,000 | |
| Income Tax4 | ||||
| flat rate | 10% | 1,800 | 7,200 | 14,400 |
| Annual Income Tax Due | 1,800 | 7,200 | 14,400 | |
| Tax due as % of Gross Income | 10.00% | 10.00% | 10.00% | |
| Source: Global Property Guide research |
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1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 USD = 3 ECD
3 Estimated values. Income-generating expenses are deductible when calculating taxable income.
4 Rental income earned by nonresident individuals is taxed at a flat rate of 10%.