Tax Tips for Tradies
Photo by David Clode on Unsplash
1. Claim your tools
Did you know you can claim deductions for tools and equipment? Keep your receipts for purchases and repairs.
2. Deduct Vehicle Expenses
You can claim deductions for work-related vehicle use. Keep a logbook of your mileage and expenses to maximise your return.
3. Protective clothing
Expenses for protective clothing like hi-vis vest, gloves and boots are tax deductable. Don’t forget to keep your receipts.
4. Training and courses
Upskill and save on taxes! Any training courses or certifications related to your trade are tax deductible.
5. Home Office Expenses
If you do some work from home (eg quoting, invoicing), you can claim a portion of your home office expenses. This includes internet, utilities and office supplies.
6. Keep Detailed Records
Organise all your records of income and expenses in a safe spot. This makes it easier to claim deductions, and can help you if you’re audited.
7. Contact GPP
We’re here to lighten your load at tax time. Contact us for personalised support and advice.