Industry Specialists
Accounting for Real Estate Agents & Agencies
Fixed-fee accounting for Australian real estate professionals. Tax returns, payroll, BAS, trust account bookkeeping, and contractor classification — from a registered tax agent that understands your industry.
Book a Free Discovery CallWhat Numberz Handles for Real Estate Professionals
From sole trader agents to multi-office agencies, we cover every accounting and compliance obligation — on a fixed monthly fee with no surprises.
Contractor Agent Tax Returns
Specialist individual tax returns for real estate agents on commission, capturing all legitimate deductions — vehicle, licensing, marketing, home office, and professional development.
Agency Payroll & STP
Payroll processing for agency staff, Single Touch Payroll reporting, superannuation, and PAYG withholding — with contractor/employee classification advice included.
BAS Lodgment
Monthly or quarterly BAS preparation and lodgment for GST on all fee income — commissions, management fees, letting fees, and other agency revenue.
Trust Account Bookkeeping
Monthly reconciliation of statutory trust accounts in Xero, kept completely separate from operating accounts, with records prepared for state regulatory audits.
Contractor Classification Review
A structured review of every agent arrangement to identify employee versus contractor risk — one of the highest-audit-risk areas for real estate principals.
Business Structure Advice
Modelling sole trader versus Pty Ltd versus trust for principals and buyer's agents, with full tax-saving projections and transition cost analysis.
New Agency Setup
Entity registration, ABN, GST, Xero setup, and compliance calendar for new agencies — fully operational within five business days.
Property Investor Tax Returns
Investment property schedules, negative gearing, depreciation, CGT on sales, and advice on whether to restructure your personal property holdings.
Why Real Estate Professionals Choose Numberz
We understand contractor agent arrangements
The ATO has specifically targeted real estate agencies in payroll tax and superannuation audits because of widespread contractor misclassification. Numberz conducts a structured review of every agent arrangement — before the ATO does — and advises on restructuring where needed.
We keep trust accounts completely separate
Statutory trust accounts are one of the most heavily regulated aspects of running a real estate agency. We reconcile your trust account separately from your operating account every month in Xero and prepare records for state regulatory audits. Trust account errors can cost you your licence — we make sure that doesn't happen.
We handle GST on commissions correctly
All real estate agency fees — sales commissions, management fees, letting fees — are taxable supplies. GST must be collected, reported, and remitted correctly each BAS period. We map your income categories to the correct GST treatment and reconcile them against your bank every month.
We advise on the right structure as your income grows
Most agents start as sole traders. As commission income grows, there comes a point where a company or discretionary trust saves significant tax. Numberz models both options for your specific situation — including the transition cost — and tells you exactly when the switch pays off.
The Top Compliance Risks for Real Estate Agencies
Contractor misclassification
ATO deems agents employees → backdated super, PAYG, and penalties.
Payroll tax grouping
Multi-office or associated agencies aggregated above state threshold.
Trust account reconciliation failures
State regulatory audits — errors can lead to licence suspension.
GST errors on fee income
Under-reporting GST on commissions leads to ATO shortfall assessments.
Super guarantee for contractors
Contractors primarily engaged for labour may attract SGC obligations.
No CGT planning before selling the rent roll
Rent roll sales are CGT events — early planning reduces tax significantly.
Frequently Asked Questions
What can a real estate agent claim as a tax deduction?
Contractor agents can claim licensing fees, professional membership (REIQ, REIA), professional indemnity insurance, vehicle expenses (logbook or cents-per-km for inspections and open homes), home office costs, phone and internet (business proportion), marketing costs paid personally, CPD training, and accounting fees. Numberz prepares your return to capture all legitimate deductions.
Do real estate commissions attract GST?
Yes. Real estate agency fees — including sales commissions, management fees, letting fees, and lease renewal fees — are taxable supplies subject to 10% GST. You must be GST-registered if your turnover exceeds $75,000 and include GST in your fee agreements. Numberz ensures your BAS correctly reports and remits GST on all fee income.
Are my contractor agents really contractors or should they be employees?
This is the highest-risk area for real estate principals. The ATO looks at whether agents work exclusively for your agency, use your brand and systems, and cannot subcontract the work. If agents meet employee tests, you are liable for unpaid PAYG withholding, superannuation, and payroll tax — backdated. Numberz conducts a classification review for each agent arrangement.
Do I need to register for payroll tax as a real estate agency?
Payroll tax applies if your total wages — including deemed wages for some contractors — exceed the state threshold. In NSW the threshold is $1.2M, VIC $900K, QLD $1.3M. Multi-office agencies must aggregate wages across all entities. Numberz calculates your exposure state by state and handles registration and monthly lodgments.
How should I handle trust account bookkeeping?
Statutory trust accounts must be kept completely separate from your operating account and reconciled monthly. Client deposits, rental collections, and disbursements must be recorded correctly. Numberz reconciles your trust account separately in Xero and prepares records for state regulatory audits. Errors in trust account management can result in licence suspension.
Should I operate as a sole trader or set up a company or trust for my agency?
When net profit consistently exceeds $120,000–$150,000, a company (25% tax rate) or discretionary trust (income splitting) is typically more tax-efficient than a sole trader (up to 47% marginal rate). Numberz models the tax saving against setup and transition costs for your specific income level and recommends the right structure.
Can Numberz help me set up a new real estate agency from scratch?
Yes. Numberz handles entity registration (Pty Ltd or trust), ABN and GST registration, Xero setup, payroll setup, and compliance calendar for new agencies. Most new agencies are fully set up within five business days. We also advise on trust account requirements under your state's Real Estate Act.
How much does accounting cost for a real estate agency?
Numberz charges a fixed monthly fee — no hourly billing. A typical real estate agency with 5–15 staff pays $1,200–$3,500 per month for monthly bookkeeping, trust account reconciliation, payroll, BAS, and annual returns. We provide a fixed-fee quote at the discovery call after understanding your transaction volumes and staff headcount.
Ready to talk to a real estate accountant?
Book a free 20-minute discovery call. We'll review your current situation, identify any compliance risks, and give you a fixed-fee quote on the call — no obligation.
“Numberz transformed how we view our financial data. It's like having a CFO in our pocket.”