Income tax on rent, worked example, in Australia
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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 | |
| Less Expenses 3 | 25% | 4,500 | 18,000 | 36,000 |
| = Taxable Income | 13,500 | 54,000 | 108,000 | |
| Income Tax4 | ||||
| Up to AUD 87,000 | Unlock | Unlock | Unlock | Unlock |
| AUD87,000 - AUD 180,000 | Unlock | Unlock | Unlock | Unlock |
| Over AUD 180,000 | Unlock | Unlock | Unlock | Unlock |
| Annual Income Tax Due | Unlock | Unlock | Unlock | |
| Tax Due as % of Gross Income | Unlock | Unlock | Unlock | |
Thanks to: |
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Notes
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 US$ = 1.30 AUD
3 Estimated values. Income-generating expenses are deductible when calculating taxable income.
4 Rental income earned by nonresident individuals is taxed at progressive rates.
