In Part 4 of the series we will cover the various income tax and GST considerations that apply to Real Estate Agents and the impact
this will have on other activities or assets.
The series will include relevant real-life scenarios and will also take into account the impact of COIVD-19 on the industry.
Upon satisfactory completion of Part 4, you will be able to understand…
- The different income tax and filing obligations, including:
- Consideration of Independent Contractors vs employees;
- Overview of how Withholding Tax regime and how it applies to agents;
- Overview of provisional tax and options to best manage your obligations;
- What costs can be claimed as part of activity;
- What private use adjustments need to be considered on assets like motor vehicles and options for private use;
- How the entertainment/sponsorship rules apply;
- Consideration of home office claims;
- Implications if an agent is paid a retainer, if new to industry or to assist during a COVID-19 downturn.
- The key considerations from a GST perspective, including:
- Requirements to be GST registered;
- Overview of the ongoing obligations of being GST registered;
- Consideration of accounting and returning GST;
- Invoicing requirements;
- Consideration of what costs can be claimed and what private use adjustments are relevant to agents;
- Implication for other activities or asset, such as if an Agent operates an Airbnb from their personal home;
- Implications of home office if GST registered.
Total CPD Hours: 1.25 (1 hour + 15 mins Q&A)
The course is suitable to anyone involved in the property industry, including:
- Real Estate Agents
- Property Brokers
- Property Managers
- Property Valuers
- Property Owners/Investors
Daniel Gibbons, Associate Partner, Findex/Crowe
Daniel is an Associate Partner for Findex in Queenstown. Daniel has been with Findex for 12 years, where he advises on a wide range of
tax matters, including property transactions and property ownership structures, international taxation issues, the tax treatment of investments
and providing structuring advice to clients, including assistance for family group restructures. Daniel is recognised as a leader in the taxation
treatment of short stay accommodation, providing training to other practitioners.
- 2 September 2020
9:30 am - 10:45 am