Posted November 14, 2018 16:17:24 With the value of a typical SA property skyrocketing in recent years, the average property owner is being squeezed by rising taxes.
But many have the audacity to think they can escape paying the high property tax rates by turning their land into a tax-free “residential property”.
Landlords can get away with this because they are not taxed by the state or local government.
But property owners are paying a high tax bill to the state because of the nature of the business and the location of their business.
As a property owner, you are the owner of your own property.
Your property is a physical piece of property that belongs to you and your family.
So the first thing you need to do is establish a property management company (PMC).
You need to set up a company that can manage the property on your behalf.
In South Australia, there are three PMCs that can offer a range of services.
If you do not have a registered business, you can start one that does.
The PMC needs to be registered with the SA Revenue and Finance Commission (RFF).
If your business is a private company, it is likely that the business name and address can be found on the RFF’s website.
A business can be registered to manage property if: you have an existing business with your registered company; your company has not previously made any revenue from your business; and your business was a taxable business in SA.
Property managers need to register with the RFS if they wish to conduct business on your property.
The RFF also has rules about who can register their business as a property manager.
There are a number of factors that must be met to be considered for your business to be a property operator.
These include: how many people are involved; the number of people you will need to manage your property; the quality of the services that you provide to your clients; the size of the property you will manage; and the number and location of the properties you intend to manage.
Once you have set up your business, a business registration is not required to conduct any property management services.
However, you must provide the RFB with information about your business and your services.
If you fail to comply with these requirements, you could be fined $10,000.
Some businesses do not need to have a registration with the Revenue and Finances Commission to offer services on your premises.
These include: commercial and industrial property owners and managers; building owners; commercial and residential property owners; and landlords and managers.
When you register with a business, there is no requirement for you to provide any financial details.
You can, however, make a claim for tax relief, including the right to deduct property tax from your income.
You must also comply with the requirements for business licenses.
To register a business with the government, you will have to provide a written contract that outlines your responsibilities and business services.
You also need to provide documents to support the business.
You should provide all relevant documents and information about the business including: the name of the company, its registered address, business plan, business documents, website, phone number, address and email address; and, if you are a company, the name and contact details of the person who holds the company’s licence.
After you have registered with a company and completed all the required forms, you may choose to apply for a business licence.
This is the right for you if you have not previously registered with any state or territory.
This process is different to registering with the state.
You will then need to apply to the SA RFF for a licence.
A licence allows you to do certain things, such as: manage your business on the property; charge the property tax you pay to the RFT; and deduct property taxes.
If a business fails to comply, the business licence may be cancelled.
Landlord/manager companies are often known as residential property managers.
They provide the services of managing a property on behalf of the landlord or the manager.
Landlord/manger companies can be established as residential properties managers if they provide: a business name, address, and contact information; a website; a phone number; and a fax number.
Landlords and managers need a commercial and non-residential licence to conduct their business on their property.
There are three types of commercial and commercial-like businesses: property managers, commercial property managers and residential properties manager.
These are: owner-occupiers (owners of the land); residential property operators (owners and managers of the residential property); and business operators.
Property managers are typically located in residential properties.
They are responsible for managing the rental, leasehold and mortgage agreements for the rental unit.
Business operators are responsible in most cases for managing commercial property and leasing.
Business owners may choose from two types of business licenses: a commercial license and a residential