Real Estate Employees

Tax Deductions for Real Estate Employees

If you are employed as a real estate agent or rental manager, some of the deductible expenses you may be able to claim on your tax return are:

Meals & Travel

The cost of the following:

  • Meals when you work overtime, provided you have been paid an overtime allowance by your employer
  • Parking, tolls, taxis & public transport when travelling to attend seminars, conferences, meetings and training courses, property inspections, to erect signs and take photographs (if you need to stay away overnight you can also claim for the cost of all meals and your accommodation)
  • Using your own car for work, including travel to attend seminars, meetings, conferences or training courses, property inspections, to erect signs and take photographs or if you are required to travel between two offices. It is best to keep diary records of the number of kilometres travelled during the year for these purposes.

Work Clothing

The cost of the following:

  • Compulsory uniforms, including shirts, pants, shirts, jackets, jumpers, ties and scarves (the logo must be on the uniform to ensure it is tax deductible)
  • Laundry, dry cleaning of your uniforms
  • Sun protection items if required to work outside at least part of the day (including sunscreen, sunglasses, hats)

Training

The cost of the following:

  • Work-related short training courses or conferences e.g. first aid, OH&S, computer skills, bookkeeping, sales techniques or management, which are not run by a university or TAFE provided they relate to your current employment. You can also claim the travel expenses to attend these courses.
  • Self education courses run by universities (not including HELP or HECS) or TAFE, for example Diploma in Property (real Estate), provided they relate to your current employment. If studying, costs of books, stationery, travel and equipment required for the course.
  • Compulsory CPD training courses

Work Tools & Equipment

The costs of:

  • Buying and repairing equipment used at work, including cameras (video and digital), electronic organisers, laptops and mobile phones.
  • Stationery items, diaries, briefcases

Memberships, Subscriptions, Books, Telephones, Internet

The costs of:

  • Annual Certificate of Registration
  • work related books, magazines, journals and newspapers
  • advertising via newspapers, letterbox drops and signage
  • work related home and mobile phone calls and rental (diary records should be kept to substantiate the numbers of phone calls you make for one month and then the accrued cost can be calculated)
  • internet connection fees (only the proportion of the fee that relates to work use can be claimed)
  • home office (diary records should be used to substantiate the hours per month spent working from home)

General Expenses

The cost of deductions that all employees can claim on their tax returns include:

  • bank fees charged on investment accounts
  • donations to registered charities (so long as nothing is received in return for the donation eg raffle tickets or novelty items)
  • tax agent fees, including the cost of travelling to see your agent to have your return prepared.
  • Income protection or sickness and accident premiums

Individual Taxation Returns suggest you keep receipts for all purchases that are work related, even if they are not listed above. When we prepare your return we can determine whether the expense is tax deductible or not.

Chartered Accountant and Registered Tax Agent. ABN 88 460 261 833