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Is the property tax only paid from the rent of the leased property?

The property tax payable is not only the price paid for the right to use the property but also the money paid for the benefit of the property owner. The price to be paid and the benefits of the owner include the following examples of income:

1. Property rental receivable and received

2. Fees paid for the right to use the property

3. The tenant pays the landlord’s service and management fees

4. Property repair fees paid by the tenant on behalf of the landlord

5. Recover the amount of rent that could not be recovered previously but has been claimed for deduction in previous years

6. lump sum premium

An example of the above-mentioned lease fee is that because the old tenant transfers the unterminated lease to the new tenant, the tenant needs to pay the landlord a lump sum premium. In this case, the landlord can apply for an even distribution of the top-of-the-line fee according to the tenancy period and declare that the amortized amount will be assessed in the relevant tax year. However, it should be noted that the tax regulations stipulate that the lump sum premium can only be divided up to 36 months.

The above information is for reference only. If in doubt, we welcome your tax inquiries

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