Tax on Property Rental-Example 1

Tax on Property Rental-Example 1

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Mr.A own some properties and rent these properties to the following customers.

Customer 1 : rent office of $200 per month.

Customer 2 : rent warehouse of $1,000 per month.

Required:

Calculate tax on property that Mr. A will pay to tax authority.

Solution 

Tax on property = ( 200 +1,000) x 10%=$120. 

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