Short answer: Yes, property owners renting out their units can claim a standard deduction of 30% of gross rental income to account for maintenance and expenses. No itemized deductions are needed to claim this amount.
Yes, property owners renting out their units can claim a standard deduction of 30% of gross rental income to account for maintenance and expenses. No itemized deductions are needed to claim this amount. For those running their property through a Thai company, different accounting and deduction rules apply. There are currently no tax deductions for personal use of property unless related to a business.