Million$ Properties |
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Properties Rental Tax |
Individual |
| The method of tax calculation will be taken 3 steps, those are : |
| 1. less expense |
| 2. Gross income x 0.005 |
| 3. Compare 1 & 2 and apply the higher one. |
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| There are 2 choices of expense deduction to submit personal income tax. |
Tax range |
Personal income tax rate |
| 1-150,000 |
0% |
| 150,001-500,000 |
10% |
| 500,001-1,000,000 |
20% |
| 1,000,001-4,000,000 |
30% |
| 4,000,001 over |
37% |
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A. The Lessor provides the evidence to the officer, sucessfully proves that the actual expenses exceed the standard deduction allowed, necessary and reasonable expenses may be deducted.
Note : the expenses is proved by the officer's judgement.
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Example |
Rental income/month : 40,000 Baht |
| Step 1 |
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| Rental income/year |
480,000 |
| Less Expense (maintenance) |
100,000 (proper bill) |
| |
380,000 |
| Less Personal Allowance |
30,000 |
| |
350,000 |
| Calculate tax |
|
| 1-150,000 (0% ) |
- |
| 150,001-500,000 (10% ) |
20,000 |
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20,000 |
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| Step 2 |
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| Rental income 480,000 x 0.005 |
2,400 |
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| Step 3 |
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| step 1 is higher so the person pays tax at |
20,000 |
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B. Standard deduction of 30% expenses (*** mostly used) |
Example : Rental income/month : 40,000 Baht |
| Step 1 |
|
| Rental income/year |
480,000 |
| Less Expense 30% |
144,000 |
| |
336,000 |
| Less Personal Allowance |
30,000 |
| |
306,000 |
| Calculate tax |
|
| 1-150,000 (0% ) |
- |
| 150,001-500,000 (10% ) |
15,600 |
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15,600 |
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| Step 2 |
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| Rental income 480,000 x 0.005 |
2,400 |
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| Step 3 |
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| Step 1 is higher so the person pays tax at |
15,600 |
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Juristic Person |
Note : Rental income has to be shown in the Financial Statement to calculate the corporate income tax
Expense of accounting, commission, staff salary or reasonable expense can be deducted the income.
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Corporate Income Tax |
| 1. 30% (share capital over 5 MB) |
| 2. SME (share capital not over 5 MB), see tax range below : |
| 1-150,000 |
0% |
| 150,001-1,000,000 |
15% |
| 1,000,001-3,000,000 |
25% |
| 3,000,0001 over |
30% |
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Property of the month |
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Baan Kata Ocean Front Villa |
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| If you want to own an oceanfront property in Kata, then this stunning 4 bedroom villa on 1 rai of prime, direct ocean land is as good as it gets. Located in the private and secure enclave of Baan Kata, only a few minutes walk to both Kata Noi and Kata beaches. Baan Kata is a small gated community of only 13 high end ocean front villas and is under the same management as the Boathouse and Villa Royale, considered by many to be the best boutique hotels in southern Phuket.
The villa itself consists of 3 separate buildings with a built up area of 500 sqm on 1600 sqm of land. There are 2 large ensuite bedrooms and a generous office area which can be converted into a fourth bedroom in the main building. A separate guest bedroom and bathroom is located down near the pool with stunning ocean views. A spacious maids quarter is tucked away in the top corner of the property which could also eventually be converted into a spare bedroom.
The villa has been designed to be as much as possible in harmony with nature, which means lots of balconies, large windows, high ceilings, trees, shrubs and of course magnificent views of the sea. This villa is all about a superb location and is a great bargain at this reduced pricing. The seller is leaving Phuket and must sell.
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