Tax rebate on private residential leases - Amalgamation with TA24
Tax rebate on private residential leases
The rebate is applicable on registered leases as from the basis year 2021 where the tax on such lease is being paid at the rate of 15%.
In the event that a lease falls short of a full year, the rebate is reduced proportionately to the number of days for which the lease is carried out. The rebate for any year cannot exceed 15% of the rent derived for that same year.
The maximum amount of tax rebate is as follows:
The tax rebate is to be claimed through the online filing of the TA24.
The deadline for the submission of the TA24 and payment of the tax on rental income received during the year 2021 is 30 April 2022. Late submissions are subject to interests as prescribed by Law.