Valuable information for the Real Estate Industry

If you’re a self-employed real estate salesperson or agent, it’s important to be aware of your tax responsibilities. We’ve highlighted some points to make it easier to fulfil your tax obligations.   Income Tax Commissions paid to real estate salespersons or agents are schedular payments and are usually taxed at a flat rate of 20%. This tax on payments is usually deducted by the person who pays you.   GST…  Read more

COVID19 – Work from home reimbursements

During the COVID-19 pandemic period of lockdown some employers made payments to employees to reimburse costs incurred by those employees as a result of the employees having to work from home. Inland Revenue was asked to clarify the tax treatment of such payments. Inland Revenue issued a statement which outlined the tax treatment but it only applied to payments made by employers during the six month period from 17 March…  Read more

3 tips to build a successful online business

  More and more people are leaving their office jobs and setting up an online business these days. Running an online business offers a way for you to work from home and be your own boss. It may sound like an overwhelming process, but many entrepreneurs find it fulfilling. Here are some tips to increase the chances your small online business will be a success, and you’ll be happy with…  Read more

How to set payment terms if you’re a freelancer or contractor

Following up on late or non-paying customers is no freelancer’s favorite task. Which is precisely why you need to set payment terms up front – and in writing – before you work with a new client or customer. By communicating and agreeing on the non-negotiables for doing business with you, you’ll avoid awkward misunderstandings, frustrating disputes, and in most cases, the ugly hassle of debt collection. These tips will help…  Read more

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