Income tax on rent, worked example, in Turks & Caicos Is.
Taxation Researcher | August 30, 2016
|Non-resident couple´s joint monthly rental income1||US$1,500||US$6,000||US$12,000|
|Monthly Rental Income2||1,500||6,000||12,000|
|Annual Rental Income||18,000||72,000||144,000|
|= Taxable Income||18,000||72,000||144,000|
|Annual Income Tax Due|
|Tax Due as % of Gross Income||0%||0%||0%|
Global Property Guide research
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 US$ = 1.00 USD
3 There are no income taxes levied in the Turks and Caicos Islands.