Created: Jul 10, 2010 11:00 AM
<U>Bermuda Resident Family, Two Adults, Two Children</U>Amount Items Avge. Est AmountLand tax - est. in rent [AT] ½ property 1,90015,600 Food/care[AT]$400/wk for 1 year 8.5% 1,3263,300 Alcohol and cigarettes 33% 1,0894,800 Electricity surcharge [AT] 30% of $400 p.m. 30% 1,440
Bermuda Resident Family, Two Adults, Two Children
$100,000 combined wages
Amount Items Avge. Est Amount
Tax/inflation ($)
100,000 Payroll tax 5.75% 5,750
Land tax - est. in rent [AT] ½ property 1,900
Misc. Stamp Duty 300
15,600 Food/care[AT]$400/wk for 1 year 8.5% 1,326
3,300 Alcohol and cigarettes 33% 1,089
3,000 Personal grooming 25% 750
4,800 Electricity surcharge [AT] 30% of $400 p.m. 30% 1,440
4,200 Vehicle gas surcharge on $350 p.m. 20% 840
4,000 Supplies-home 25% 1,000
9,600 Health insurance increase 12% 1,152
Currency conversions 1% 300
30,000 Vehicle 1,700
3,000 Bike - 5-year life 300
Departure/arrival tax 500
Total estimated tax $18,347
Estimated tax as % of annual income 18%