December, 2009*****
Recent amendments to the Hotels Act, Ch. 288, effective July
13, 2009 and August 5, 2009, have introduced the new definition of
“owner-occupied rental home” and, along with recent amendments to
the Real Property Tax Act, Ch. 375 and the International Persons
Landholding Act, Ch. 140, owners are being afforded a number of
benefits and incentives.
However, the essence is that those who own a home in Abaco that you
rent out, you are expected to apply for a license, collect 6% rental tax
on each rental and send that tax in along with Form X on the 15th of
the following month. Your Assessment Number (if you already have
one) will also serve as your unique license number. It's located in the
top left corner of your Tax Assessment Notice in a small box.
For most of us around the Abacos, the local office for the Family
Islands Administrative Office is in Marsh Harbour. Here is some details
for that office:
Additional questions may need to be directed to the Property Tax /
Business License office in Marsh Harbour at 242-367-3700.
The following Links should help you navigate the details of this
announcement:
IMPORTANT NOTICE TO OWNERS/OPERATORS OF RENTAL
HOMES IN THE COMMONWEALTH OF THE BAHAMAS
General Questions & Answers (Q&As)
Owner-Occupied Rental Homes – Download PDF Forms Online
***** While Abaco-Directory has attempted to summarize this
information, you should read all documentation carefully and
make your own determination for your course of action based
on your unique circumstances, and where applicable, seek
professional guidance or assistance to insure your compliance.
Recent amendments to the Hotels Act, Ch. 288, effective July
13, 2009 and August 5, 2009, have introduced the new definition of
“owner-occupied rental home” and, along with recent amendments to
the Real Property Tax Act, Ch. 375 and the International Persons
Landholding Act, Ch. 140, owners are being afforded a number of
benefits and incentives.
However, the essence is that those who own a home in Abaco that you
rent out, you are expected to apply for a license, collect 6% rental tax
on each rental and send that tax in along with Form X on the 15th of
the following month. Your Assessment Number (if you already have
one) will also serve as your unique license number. It's located in the
top left corner of your Tax Assessment Notice in a small box.
For most of us around the Abacos, the local office for the Family
Islands Administrative Office is in Marsh Harbour. Here is some details
for that office:
- Phone - 242-367-2344
- Fax - 242-367-3313 (Your application Form 1C may be faxed
here but I'd suggest putting your Assessment Number on the
Form 1C for proper identification and credit) - Administrator Cephas Cooper is the local contact "official"
although "Faye" was quite knowledgeable on the topic.
Additional questions may need to be directed to the Property Tax /
Business License office in Marsh Harbour at 242-367-3700.
The following Links should help you navigate the details of this
announcement:
IMPORTANT NOTICE TO OWNERS/OPERATORS OF RENTAL
HOMES IN THE COMMONWEALTH OF THE BAHAMAS
General Questions & Answers (Q&As)
Owner-Occupied Rental Homes – Download PDF Forms Online
***** While Abaco-Directory has attempted to summarize this
information, you should read all documentation carefully and
make your own determination for your course of action based
on your unique circumstances, and where applicable, seek
professional guidance or assistance to insure your compliance.
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An Abaco, Bahamas resource