Tax deductions for real estate agents
Real estate agents assist property owners in marketing, selling, or leasing their properties.
Average weekly pay: $1,150
Employment size: 88,900
Future growth: Strong
Skill level Certificate III or IV
Typical tax deductions include:
- Motor vehicle travel to and from work if having either shifting work (working at more than one site each day before returning home), or transporting bulky signs/equipment.
- Motor vehicle travel between offices, visiting clients or for training purposes.
- Phone and internet – work %.
- Client gifts bought for work purposes by salespersons or property managers who are entitled to receive commission income – includes a Christmas hamper, a bottle of whisky, wine, gift vouchers, flowers, etc.
- Computers, tools and equipment.
- Costs of jazzing up a property – includes flowers, cleaning, paint, coffee, and cakes.
- Home occupancy costs if required by the employer to work from home – includes a % of rent, mortgage interest, rates, insurance, etc.
- Referral commission and expenses.
- Handbag, briefcase or satchel.
- Overnight travel expenses visiting clients or for training purposes – includes airfares, accommodation and meals.
- Compulsory work uniform branded with the employers logo.
- Union fees, licences, registrations and subscriptions – includes renewing a real estate certificate of registration.
- Advertising including newspapers, letterbox drops, signage, and internet.
- Newspapers containing property sections – if there is a sufficient connection between the duties carried out as a real estate employee and the content of the newspapers.
- Self-education expenses.
- Home office running expenses.
- Overseas conferences, courses and study tours.
- The initial cost to obtain the real estate certificate of registration.
- Advertising – if on a fixed salary with no commission.
- Gifts – if on a fixed salary with no commission.
- Gifts in the form of entertainment – eg tickets to the theatre.
- Entertainment expenses – including buying lunch for a client or business associate.
- Expenses incurred in attending social functions – e.g. Real Estate Institute monthly networking breakfasts.
Tax Strategies we can assist you with.
Home office occupancy expenses
Self education expenses
Overseas conferences, courses and study tours
Computers, tools, equipment and other assets
Compulsory work uniform
Logbook for motor vehicles
Gifts to clients, suppliers and contractors
Union fees, licences, registrations and subscriptions
Phone and internet
Overnight travel expenses
Join thousands of individuals, investors and entrepreneurs who trust us with their tax returns, finance and accounting.
Clients served since 2012
Thousands of Aussies trust us with their tax returns and accounting
Tax Questions? Accounting Questions?
Got a burning question? Let us help. We’ll even do a month of your bookkeeping and provide you with a set of financial statements for free.
Late tax returns are our speciality