Advice on Flat Rates of Tax

Most sales staff in real estate agencies receive infrequent, large commissions when properties settle. This has serious implications for tax purposes. For example, it is not uncommon for A-REP Contractors to earn $20,000 or more in one payment when a premium property settles or several properties all settle at the same time. To be taxed at the marginal rate would mean that such a payment would normally be taxed at well over 40 cents in the dollar.

A-REP has been granted permission by the Australian Taxation Office (ATO) to deduct at flat rates of taxation with a minimum of 20% (click here to view a copy of the letter from the ATO). This is a significant benefit to A-REP Contractors who earn over $40,000.00 per annum. 

IMPORTANT: If you choose a flat rate higher than 20%, you must fill in a "Withholding declaration - Upwards variation form".  These are available from the A-REP office.  Just call us on 07 3378 0189 and we'll organise one for you.

 

For more information, contact A-REP on 07 3378 1089

 

 

© 2006 Astute Real Estate Personnel Pty Ltd (ABN 95 119 344 393)

 

Admin | Web Design by Excite Media