The single biggest reason agents overpay tax is missed deductions. If an expense helps you earn commission, it is usually deductible — and real estate has a long list a general practice often overlooks.
The usual suspects
- Vehicle running costs and depreciation (or kilometre rate)
- Marketing — listings, signboards, photography, social ads
- Franchise and brand fees
- Mobile, internet and software
- Home office portion of rent, power and rates
The ones that get missed
- Client gifts and closing hampers (within limits)
- Conferences, training and professional development
- Professional memberships and licensing
- Staging and presentation costs you carry
- Bank fees and interest on business borrowing
Keeping the evidence is half the battle. Snap the receipt, note what it was for, and move on.
Realty AI captures and codes these automatically from your bank feed — so the deductions you are entitled to are actually claimed, not left on the table.