Income tax on rent, worked example, in Bahamas
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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 Tax3 | ||||
| Flat rate | Unlock | Unlock | Unlock | Unlock |
| Annual Income Tax Due | - | - | - | |
| Tax Due as % of Gross Income | Unlock | Unlock | Unlock | |
Source:
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Notes
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 USD = 1.00 BSD
3 Estimated values. Income-generating expenses are deductible when calculating taxable income.
4 Rental income earned by nonresident individuals is not subject to any income tax.
