Income tax on rent, worked example, in United States
September 13, 2016
|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|
|Annual Income Tax Due||-||-||-|
|Tax Due as % of Gross Income||0.00%||0.00%||0.00%|
Global Property Guide research
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 US$ = 2,115.00 TZS
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 20%.