Tax rental property

[phka]

Does anyone know how income from  rental properties are taxed. 

It used to be 12.5% I'm not sure but I think that's all changed now, this is concerning a Thai person nothing to do with forigners. 

[ezzra]

Been renting out properties in Bkk for many years never paid a cent in tax, not sure what are your predicaments but paying tax on rental properties isn't vigorously enforced it seems...

Edited August 22, 2021 by ezzra

[smutcakes]

I believe income from rental properties is treated the same as any other income from work. So any income would fall into the below tax rate brackets with any other income the person has. There are allowances as well. Single person allowance, spouse allowance etc etc. As the person above mentions adherence and declaration of income from residential leasing seems very very low, and there does not appear at the current time to be much effort to chase it.

Taxable Income (baht)	Tax Rate (%)
0-150,000	Exempt
more than 150,000 but less than 300,000	5
more than 300,000 but less than 500,000	10
more than 500,000 but less than 750,000	15
more than 750,000 but less than 1,000,000	20
more than 1,000,000 but less than 2,000,000	25
more than 2,000,000 but less than 4,000,000	30
Over 4,000,000	35

[Satcommlee]

You are supposed to pay tax on the income thats why many landlord wont cooperate with tm30 or do a long term contract as it needs to be registered.

[chilly07]

1 hour ago, Satcommlee said:

You are supposed to pay tax on the income thats why many landlord wont cooperate with tm30 or do a long term contract as it needs to be registered.

Except when it's under the tax threshold! 

[natway09]

Income from leases are treated as normal income & should be included in your income tax return if your net income is over 150 K you should file

 

[khunPer]

17 hours ago, phka said:

I'm not sure but I think that's all changed now, this is concerning a Thai person nothing to do with forigners. 

To my knowledge, it's normal income tax, if now owned by a company limited.

[mstevens]

I seem to recall that rental income was taxed at a 15% flat rate, irrespective of how much rental income was received. And it was only the supposedly actually rental income that was taxable.....so rental contracts would often stipulate a fee for furniture and fittings, a fee for security etc. A condo rented for 30,000 baht / month might be broken down in the contract as 10,000 for rent, 10,000 for fixtures, furniture & fittings and 10,000 for security. That way the owner would only pay 15% rent on 10,000 baht (the rental portion of the total 30,000 baht). This is how I believe it was some years back. No idea if this is still correct or not.

[thailand49]

From my own experience not sure of the % but the first time we paid wife told me based on the rent she was getting based on the units she told them a lower rate no one as far as I know checks. We paid a few years straight then my wife got sick and we forgot all about paying one day it dawn on me and I ask she didn't seem too concern I've not seen any notices or anyone coming around I just guess when it times to sell that is when they will get you?

[thomsens]

hmm

[thomsens]

On 8/23/2021 at 4:33 AM, thailand49 said:

From my own experience not sure of the % but the first time we paid wife told me based on the rent she was getting based on the units she told them a lower rate no one as far as I know checks. We paid a few years straight then my wife got sick and we forgot all about paying one day it dawn on me and I ask she didn't seem too concern I've not seen any notices or anyone coming around I just guess when it times to sell that is when they will get you?

nice