Income tax on rent, worked example, in Aruba
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Notes
1 The property is jointly owned by husband and wife. Exchange rate used: US$1 = AWG1.7900.
2 A standard deduction of US$11,378 is applicable on all taxable income for income tax purposes.
3 Individuals owning real property cannot deduct depreciation expense or capital allowance.
4 Income tax is levied at progressive rates in Aruba. Married couples filing jointly are taxed under the Schedule II income tax rates.
Income Tax |
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TAXABLE INCOME, AWG (US$) | |
|
Schedule I | Schedule II | |
Up to 7,118 (US$3,977) | 7.00% | 7.40% |
7,119 - 16,759 (US$9,363) | 9.55% | 10.05% |
16,759 - 27,555 (US$15,394) | 13.70% | 14.45% |
27,555 - 39,888 (US$22,284) | 18.00% | 19.00% |
39,888 - 53,593 (US$29.940) | 23.50% | 24.80% |
53,593 - 68,994 (US$38,544) | 29.00% | 30.60% |
68,944 - 83,020 (US$46,380) | 34.10% | 35.95% |
83,020 - 98,189 (US$54,854) | 38.00% | 40.10% |
98,189 - 117,528 (US$65,658) | 41.75% | 44.05% |
117,528 - 145,448 (US$81,256) | 43.20% | 45.60% |
145,448 - 186,683 (US$104,292) | 46.25% | 48.80% |
186,683 - 250,446 (US$139,914) | 52.00% | 54.85% |
250,446 - 296,956 (US$165,897) | 54.20% | 57.20% |
Over 296,956 (US$165,897) | 55.85% | 58.95% |
Source: Global Property Guide |