How this usually works
A good tax accountant for real estate agents starts with a fast review of your structure, software stack and current pressure points. We look at trust account reconciliations, commission and fee mapping, BAS history, payroll and super setup, and any ATO deadlines.
Typical phases:
- Immediate triage: fix GST coding on commissions and fees, resolve trust clearing balances, lodge any overdue BAS/IAS.
- Process design: align PropertyMe/Property Tree to Xero/MYOB/QuickBooks, set up RCTI where eligible, document end‑of‑month workflows.
- Ongoing review: monthly or quarterly BAS reviews, payroll/STP checks, year‑end tax planning and returns with clear timelines.
Australian context to keep in view
- Confirm your tax practitioner or BAS agent on the Tax Practitioners Board public register.
- Trust accounts are governed by state law and require strict segregation and reconciliation; annual trust audits are common.
- STP Phase 2 reporting and Super Guarantee deadlines apply to commission‑based payrolls as well as salaried staff.
- Residential rent is generally input taxed for landlords, but agency service fees are usually taxable supplies and attract GST if registered.
Real estate tax issues we handle
- GST on sales commissions, management fees and advertising recharges (recharge vs true disbursement).
- Trust account workflows and reconciliations across sales and property management, including suspense/clearing accounts.
- Commission and retainer payroll design, STP configuration, super on commissions and clawback handling.
- Contractor vs employee risk review for sales associates and property managers, including PAYG and super implications.
- Deduction planning: marketing, vehicle and travel substantiation, phones/IT, training, professional memberships and office fit‑out depreciation.
- Entity structure, profit distribution, and timing strategy for year‑end tax.
Recommended software stack
We work in the common real estate stack and make sure data flows cleanly into your general ledger and BAS:
- Accounting: Xero, MYOB, QuickBooks Online.
- Property/trust: PropertyMe, Property Tree, Console Cloud, Reapit, MRI.
- Payroll: native payroll in Xero/MYOB/QBO with STP Phase 2, or integrated workforce tools where needed.
The key is mapping: commissions, management fees, advertising, and sundry charges must be coded with correct GST and revenue recognition to keep BAS and tax accurate.
What to compare before you commit
Scope
Confirm your quote covers trust review, GST mapping, BAS/IAS, payroll/STP, year‑end returns and any clean‑up or training required.
Software fit
Ask for examples of reconciliations between your trust system and Xero/MYOB/QBO, not just a list of logos.
Turnaround and communication
Agree how end‑of‑month, settlement spikes and auction campaigns are handled, and how urgent items are escalated.
Commercial fit
Check pricing method, meeting cadence and reporting. Decide if you want compliance only or broader guidance on rent roll growth and cash flow.
Compliance calendar (typical)
- BAS or IAS: monthly or quarterly, depending on registration and PAYG profile.
- STP: every pay run; year‑end finalisation by ATO deadlines.
- Superannuation: quarterly due dates; pay earlier for cash flow smoothing.
- Income tax return: per ATO lodgement program if using a registered agent.
- Trust account audit: state‑based timing—confirm requirements in your state and keep reconciliations audit‑ready.
Need a calendar tailored to your agency? We will set up reminders and a simple checklist.
Best next steps
Write down the exact outcome you want: clean trust reconciliations, correct GST on commissions, smoother payroll and super, or a full year‑end tax plan. Then shortlist providers who can show real estate examples and explain the workflow.
If bookkeeping or payroll also need work, use these related pages: Bookkeeping for real estate agents and Payroll services for real estate. For broader tax topics, see the Tax Accountant pillar and BAS Agent Services.
Frequently asked questions
What does a tax accountant for real estate agents actually do?
They manage BAS and GST on commissions and fees, keep trust workflows clean, set up STP payroll for commissions and retainers, advise on contractor vs employee settings, plan deductions, and complete year‑end tax—coordinated with your property software and GL.
How is GST handled on commissions and property management fees?
Agency commissions and service fees are usually taxable supplies and attract GST if you’re registered. Reimbursements can be tricky—true disbursements may be GST‑free, while recharges commonly include GST. Correct mapping in your software keeps BAS accurate.
Are trust account funds taxable income to the agency?
No. Trust monies belong to landlords or vendors and must be kept separate and reconciled. Only commissions and fees earned by the agency are booked as income and included in tax and BAS.
Should salespeople be employees or contractors?
It depends on the arrangement. Misclassification risks super, PAYG and payroll tax exposure. We’ll review contracts, STP and super settings so your model matches the obligations.
What compliance deadlines matter for agencies?
Expect BAS/IAS, STP per pay run, quarterly super, annual income tax, and state‑based trust audits. We create a simple lodgement calendar so nothing is missed.
Which systems work best?
We commonly integrate Xero, MYOB or QuickBooks with PropertyMe, Property Tree, Console Cloud, Reapit or MRI. The focus is clean mapping and reconciliations—not just the software brand.