Tax Agent Mooroolbark for Real Estate Professionals

In the past few years, real estate live auctions and open for inspections are significantly affected and subject to tight restrictions caused by COVID-19 pandemic lockdowns. Whilst this pandemic has brought unprecedented challenged for real estate employees, our CLY Tax Agent Mooroolbark are here to help you in preparing and lodging your tax return if you are a real estate agent or auctioneer who is looking for Mooroolbark tax agent.

Income to Report

Your income statement or payment summary might include allowances you received due to working on weekend or holidays or using your own car for work. You need to include these allowances as income in your tax return.

Work Related Deductions

There are quite a few deductions that you can possibly claim when you work as a real estate professional. Our CLY Tax Accountant Mooroolbark has sorted out the following common deductions for your reference.

  • Advertising cost: If you have incurred advertising expense though online website (e.g., Domain, Real Estate), newspaper, letterbox drops, signage and bunting to assist the sale of properties, you may be entitled to claim a deduction.
  • Car expense: If you drive your car for work related purpose such as travelling between different offices and attending auction or inspection, you can claim the car expense accordingly. You can generally claim work related motor vehicle cost through either logbook or cent/km method.
  • Phone cost: if you have to use your own mobile to make cold calling regularly in order to penetrate the local market, work-related portion of your mobile cost could be tax deductible.
  • Clothing and uniform expenses: If you have to wear a compulsory uniform that is enforced by your employer (for example, the uniform has a logo of your employer), you can claim a deduction for the cost of purchasing and laundering the uniform.
  • Decorating properties cost: If you purchase flowers to decorate properties for better client presentation, you can claim a tax deduction for the cost incurred.
  • Self-education expense: If you have taken courses to improve your work-related skills such as marketing or photography, you may be entitled to claim portion of incurred costs.

Our Mooroolbark tax agent have been looking after real estate professionals for many years, including helping explain and implement record keeping methods to satisfy legal obligation.

CLY Tax Accountant Mooroolbark have the experience and expertise to accommodate all of your tax Mooroolbark needs moving forwards. Our objective is to always remind real estate professionals (or employees) of all their legal work-related benefits and entitlements from tax perspective. We put in extra hard work to give the best possible results. Please contact CLY Tax Agent Mooroolbark to book an appointment and discuss your situation in detail.