GST on rent

SAC Code for Real Estate Agents

The services provided by real estate agents fall under the real estate services on a fee/commission basis or contract basis heading of the SAC code. The following are the SAC code relevant for real estate agents:

SAC Code 997221 – Property management services on a fee/commission basis or contract basis
SAC Code 997222 – Building sales on a fee/commission basis or contract basis
SAC Code 997223 – Land sales on a fee/commission basis or contract basis
SAC Code 997224 – Real estate appraisal services on a fee/commission basis or contract basis

The GST rate applicable for all services rendered under the heading real estate services on a fee/commission basis or contract basis is 18%.

SAC Code for Real Estate Services involving Owned or Leased Property

Real estate services involving owned or leased property are classified under the SAC code as follows:

SAC Code 997211 – Rental or leasing services involving own or leased residential property
SAC Code 997212 – Rental or leasing services involving own or leased non-residential property
SAC Code 997213 – Trade services of buildings
SAC Code 997214 – Trade services of time-share properties
SAC Code 997215 – Trade services of vacant and subdivided land

Services by way of renting of residential dwelling for use as residence is exempt from GST. Other rental services would attract GST at 18%.