Tax Tips for Tradies

Written By GPP

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.

 

 

GPP
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