TAX QUESTIONS? YOU ASK LAH!

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Q: We are paying a property agent commission when he brings client to our legal firm to sign Sales and Purchase Agreement. The agent is not employed by our firm. Is the referral fee considered as commission and do we need to issue Form CP58?

A: Referral fee can be considered as a type of commission. In your case, you would need to prepare Form CP58 for this property agent if the referral fee paid to the agent has exceeded RM 5,000 in a calendar year.

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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