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- #21
Ours here too, the VAT is very shocking. There is VAT on our electric bill, water bill, and internet. My goodness, as if we are the ones paying the taxes of those businesses.
Rental Income as a Passive Business
- Thread starter Starmix
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- #23
Those rich don't understand the poor. They have their own accountant to apply debit credit to their businesses. They won't declare the true value of their assets. That's called tax fraud.
But in my area I don't think we pay tax for renting out rooms
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- #27
Rental business gives us income unexpectedly. We just try something that earns something for a living in this hardest time where our economy is sinking. There is nothing impossible under the heat of the sun.
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@Bisolami , it seems VAT is eternal. It helps our nation support government projects, donate victims of flood, fire, earthquake , devastations of properties, but we are not so sure if the expenses were computed and declared effectively. There is tax fraud and embezzlement .We do not know .,we are just ordinary citizens.
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- #29
That's true we can also rent tents for picnic affairs, rent costume at a boutiques, rent ROTC uniform at a tailoring. Rent s small lot too to plant vegetables and crops production.
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VAT shown in our electric bill is suffocating. Every item in the bill, there is a corresponding VAT.
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Our VAT here is 20 %, it seems crazy, hoping they would show to the nation how much they earn from our taxes minus or plus the expenses incurred by the government. It should not be black and white.
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VAT is like Forever. The more in United States they're deducted 30 % from their total earnings.
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It is, without a doubt, an excellent source of passive income.
If you have an extra room at home, you can rent it out long or short term.
If you have an extra room at home, you can rent it out long or short term.
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- #31
That way, there is extra income to save or to spend on the very important stuff.
To my knowledge, rent revenue is not subject to VAT but is subject to income tax, also in accordance with international accounting standards.
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- #33
Yes, you are right, tax not VAT , the latter is only appearing on what we buy and on bills and more.
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It's also risky unless double door so the renter can't enter our home. Even in a garage space unless the garage has a strong divider so the renter can't plan bad to our vehicle.
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It's also risky unless double door so the renter can't enter our home. Even in a garage space unless the garage has a strong divider so the renter can't plan bad to our vehicle.
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@Bisolami , VAT seems eternal and it's increasing in value. It seems a forever heart ache to tax payors.
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VAT seems eternal and it keeps on increasing its value. I prefer to shop in the public market, there is no VAT.
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Rental is definitely a good source of passive income. But you have to have enough money to buy an apartment first. Some people rent out their apartment to one tenant. There are people who sub-divide their apartment into many rooms and rent out those rooms to many tenants.
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- #37
That's right, the owner will just collect the payment or rent. I like this investment but it requires million capital especially this time.
Yes you just need to collect the money. True you need to have a million worth of capital. I also envy those who open rent spaces for commercial business or stalls
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- #40
Let's hope someday we'll stumble on millions thru lotto lol.
