RE Commandments

RE Commandments–Here’s a summary of all the lessons to avoid RE transactions being slapped with VAT and Income Tax.

1. Thou shall NOT register as a person engaged in RE business

2. Thou shall NOT lease residential properties for commercial use

3. Thou shall NOT name commercial properties after an individual

4. Thou shall NOT sell more than six properties in a year

5. Thou shall NOT give my Tax Identification Number to anyone

6. Thou shall NEVER lodge properties for personal use in a corporation

7. If thou wants to enter the rental business properly, thou shall incorporate a company and get an accountant and lawyer who focus primarily on RE laws and regulation