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

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