If you haven’t already done so, it’s not too late to save a small fortune on your tax bill.
Here is a quick overview of the major tax deductions, available to real estate agents.
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Vehicle Claims
If it is less than 5000 business kilometers, the easiest method is claiming a percentage of cents per litres.
If it is over 5000 kilometres, you can claim a third of actual costs or keep a log book, or claim 12per cent of the original value of the car.
Agents can also claim a portion of running costs like petrol, servicing, tyres, insurance and registration.
Also, a portion of the following:
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Mobile Phone Usage and accessories
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Marketing equipment
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Professional cameras
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Drones
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Ute for carrying signs, flags & merchandise
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Sunglasses
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Umbrellas
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A portion of your home office
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Costs for dressing properties
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Clothing with logos as well as mending, alterations and dry cleaning
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Professional membership fees
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Journal subscriptions
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Union fees
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Professional development courses
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Licence exams
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Travel to attend courses and exams
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Registration fees
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Licence costs
