27/03/2026
Tax time is around the corner
Tradies, you can claim various tax deductions to reduce your taxable income. Here are some key deductions you may be eligible for:
Vehicle Expenses: Claim costs for running your vehicle for work, including fuel, insurance, and maintenance. You can use either the cents per kilometre method or a logbook method.
Protective Clothing and Equipment: Deduct costs for safety gear, such as helmets, gloves, and sun protection items, if required for work.
Tools and Equipment: You can claim the cost of tools and equipment used for work, with specific rules for tool sets and depreciation.
Work Uniforms: If required for your trade, you can claim the cost of a compulsory work uniform with a business logo.
Overtime Meal Expenses: If your employer provides an overtime meal allowance, you can claim expenses incurred for meals during overtime work.
Make sure to keep all receipts and records to substantiate your claims. Contact me if needed to ensure compliance with tax laws or assistance with your tax compliance.
