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Did You Know
- The new Income Tax Amendment for 2020 is called the Residential Tax
- That this tax is payable only on Residential rent
- That Income from that source should be filed separately from that disclosed on your Personal Income Tax Return
- That the Tax, Residential Rent, is 20% of the Net Income
- That the tax is due by March 31, 2021
- That the unpaid tax payable attracts penalty of 10% and monthly interest of 1%
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