The tax to be deducted from a non-resident landlord is done on a quarterly basis. Quarters end with the last day of June, September, December and March.
To calculate the tax to be deducted from a non-resident landlord at the end of a quarter:
1. Select Bank > Non-Resident Landlords from the main menu.
2. Select each non-resident landlord in turn from the drop down list. By default transactions relating to the most recently ended quarter will be displayed, but other quarters may be viewed also.
3. After reviewing the income, deductible expenses, deductible fees and tax to be applied for the quarter, click on the 'Record Tax Deduction ' button to post the deduction to the landlord account.
Note: That if the value of deductible expenses and fees exceeds rental income then no tax will be deducted. You are still required to post the tax record within RentPro. Any losses from one quarter will be carried forward to the next quarter and reduce the tax liability for that quarter.