A listing is a personal service contract and may only be assigned to a new broker
Your services are considered international services, which are zero-rated (i.e. GST is charged at 0%), if they fall within the provisions under Section 21(3) of the GST Act. Depending on the nature of your services, you may be required to determine your customer's belonging status (i.e. whether the customer is a local or an overseas entity) before your supply of services can be zero-rated. You can zero-rate your supply of services (i.e. charge GST at 0%) only if it falls within the description of international services under Section 21(3) of the GST Act. Find out more information about international services in this extract of Section 21 of the GST Act (PDF, 203KB).
Advertising services
International transport (for goods and passengers)The following table provides details on types of services which will be regarded as international transport of goods and passengers:
Lease or hire of transport
Services performed completely overseas
Services supplied to overseas person
Services performed on goods stored in a warehouse under the Specialised Warehouse Scheme
Trust services
Belonging status of customersUnder certain zero-rating provisions e.g. sections 21(3) (j), (k) and (s), you need to determine the belonging status of the customer that you contract with, i.e. whether your customer belongs to a country outside Singapore, before you can zero-rate your services. Your customer can be either an individual or a business. For more information, please refer to the e-Tax Guide: Guidelines on Determining Belonging Status of Supplier and Customer (PDF, 625KB). Customer is an individualYour customer will be treated as belonging in Singapore if his usual place of residence is in Singapore during the period of service. For GST purposes, an individual should have only one usual place of residence at any point in time. The "usual place of residence" means:
Residential address as proxy
More than one residential addressWhere an individual stays overseas to study or work and he has more than one residential address, the Comptroller of GST may regard the individual as belonging overseas when all of the following conditions are satisfied:
If your customer meets all these conditions, he is treated as belonging overseas for the entire duration of his overseas stay.
Customer is a business
Business establishmentYour customer will be treated as having a business establishment in Singapore if:
The main seat of economic activity refers to the place where the essential decisions concerning the general management of the company are made and where the functions of its central administration are carried out. It usually refers to the head office, headquarters or principal place of business.
Fixed establishmentA fixed establishment is an establishment, other than the business establishment, that has both the technical and human resources necessary to provide or receive services on a permanent basis. ExampleCompany A is incorporated in Japan. It has no branch in Singapore. However, it has an office and staff in Singapore to help provide support services to its Singapore customers. This office and staff are considered a fixed establishment in Singapore. FAQsWhich statement is true about a listing contract?Which statement is TRUE of a listing agreement? The answer is it is an employment contract for the professional services of the broker. The listing is the broker's contract of employment by the seller.
What is a listing contract quizlet?Listing Contract. Written agreement of employment with the property owner, whereby the owner lists his property for sale with the broker. It is also known as a bilateral contract.
What is a listing agreement between a principal and broker called?An exclusive right-to-sell agreement is the most common type of listing agreement. This legally binding exclusive contract gives the agent the right to market the home, list the house on MLS and earn a commission on the sale.
What does listing mean in real estate?A listing in real estate allows sellers to show their property is for sale in the real estate market. The information you see on the listing comes from the real estate listing terms agreed on by the owner and the agent authorized to handle the sale of the property.
|