Paying Income Tax On Lease Rentals

[ning & john]

My Thai wife and I built a house last spring.The house is in her name but I have a 30 year lease @ 1,500 baht PCM

.We have received an income tax bill for six months @ 1500 and they want 1,300 bht tax .I work this out to be 15% .Is this the correct amount,or have they made a mistake???

My second question is we are thinking about moving and renting this property.If we do I asume it would be me sub letting.Is this legal.What tax would I have to pay on rent received.If we repair house or spend money refurbishing whilst rented is this money Tax deductable under Thai Tax law (Is there a web site explaining tax payable and expenses allowed on rentals received)

[Phuket Dragon]

My Thai wife and I built a house last spring.The house is in her name but I have a 30 year lease @ 1,500 baht PCM

.We have received an income tax bill for six months @ 1500 and they want 1,300 bht tax .I work this out to be 15% .Is this the correct amount,or have they made a mistake???

My second question is we are thinking about moving and renting this property.If we do I asume it would be me sub letting.Is this legal.What tax would I have to pay on rent received.If we repair house or spend money refurbishing whilst rented is this money Tax deductable under Thai Tax law (Is there a web site explaining tax payable and expenses allowed on rentals received)

We purchased a house last year for 1 mil BHT, a couple of months later we sold it for 2 mil BHT with a 30 year lease to a farang.

We paid 1% tax = 20.000 BHT to the land office.

regards Dragon.

[quiksilva]

Hmm are you sure that the 1% "tax" that you paid is not the lease registration fee?

Ning & John, income tax is payable on rental income, I think that would also be the case despite the fact that its in your wifes name. The amount you pay depends upon your tax bracket, 15% isnt too bad - it could be up to 38%.

Not sure about deductables etc and can't say I have seen any websites that discuss this either.