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| Is levying of rent on property tax free? | 3 February 2010 | |
| Steven Jones - Moneywebtax | ||
| Dear MoneywebTax.co.za My client is a VAT registered estate agent. As is normal practice the agent charges the landlord of, in this case, residential property, one months rental as the fee for sourcing a tenant. Is this fee Vatable given that it is in respect of residential property? Answer by MoneywebTaxs co-editor Steven Jones While the levying of rent on residential property is exempt from VAT, the fee charged by the agent is subject to VAT at the standard rate (14%). The fact that it is determined with reference to the monthly rent is irrelevant as far as the VAT treatment is concerned. | ||
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