What percentage of your rental income goes to taxes? I’m curious to see just how much goes to taxes depending on where people are from. If you don’t mind breaking it down by income tax, sales tax, lodging tax, VAT, etc. it would be neat to see that.
from gross amount by paid Air BnB
VAT:12%
income tax We can do two ways, first deduction real costs then we have 40 000 sek tax free 30% tax of what is left or
20% deduction, then after the 40 000 sek tax free it’s 30% tax
Total around 30% tax on the gross income from Air BNB.
Not sure only been doing it a month.
The first £7500 is tax free. After its probably like 20%.
United Arab Emirates:
Tax: 0% (tax-free country, no income tax, no VAT)
Tourism fee (goes to local tourism department): 2.72 USD per night and bedroom
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Black Forest Germany:
Tourist tax €2.40 per night and person
If your rental is commercial:
VAT 7%
Business tax 6%
Income tax:
14% - 45% (depends on your income)
Half of my earnings go into taxes.
SC Sales & Use Tax – 5%
SC Transient Accommodations Tax – 2%
Charleston County Transportation Sales Tax - .5%
Education Capital improvement Tax - 1%
Town Local Option Tax - 1%
Charleston County Accommodations Tax – 2%
Town Accommodations Tax – 1%
Total 12.5% ~ $6000
Income tax, hard to say. I deduct all the expenses I legally can and depreciate everything connected with it, probably less than $5000.
Property tax ~ $6000
This exercise makes me want to sell and quit doing this…
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Nothing as I earn under a certain amount < £10k
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There are no local accommodation taxes I need to collect yet, Texas has no state income tax, my U.S. tax rate averages around 20%.
Belize 9% VAT…
France:
-Tourist tax depends on the city, where I am it’s 1€ per night per guest over 13.
-No VAT
- You have a tax deduction on 50% of your vacation rental income, or 71% if you get your rental rated by the ministry for tourism (this is supposed to cover your expenses, and the tax incentive is intended to increase the overall quality of the vacation rentals market). On the remaining income you pay:
-15% social tax
-A % depending on the total amount of all incomes, for a single person, % is as follows:
Up to 9 700 : 0%
From 9 700 to 26 791 : 14,00%
26 791 - 71 826 : 30,00%
71 826 - 152 108 : 41,00%
Above 152 108 : 45%
Hawaii Island
4.167 general excise tax
9.25 transient accommodations tax for a total of 13.42%
Other islands have different GE rates so they’d collect different amounts. This is exactly what hotels in Hawaii collect and pay.
Oh. One time fee of $5 for each license but you may pay both together on the same return.
Income tax would depend on if you do a schedule c as a business or have to take it as a rental deduction (which is what my CPA made me do this year)
Sales tax 6%. Lodging tax 7.25%. Business tax sliding scale depending on gross revenues but $0 if under $10,000. Income tax depending on US tax bracket. Self employment tax 7.65% if I do Schedule C business owner filing instread of Schedule E passive rental income. Each comes with different limitations/advantages/ disadvantages. First year so I haven’t figured that out yet but I could probably structure either way.
Around 38 pourcent of our gross income
Nothing, as I rent under the rent a room scheme here in the UK and earn below the threshold. This applies only where hosts list a room, I have no idea what the tax arrangements are for a whole property.