‘Nail’ your deductions this tax time!

Not sure what deductions you can claim as a tradie? Well, good news! The Australian Taxation Office (ATO) have shared some helpful tips and resources to give you a hand. 

‘Can I claim that?’

Tools and equipment, car costs, protective clothing – which costs can you claim? Check out the ATO’s tailored occupation guide for Tradies. It’ll help explain which deductions you can and can’t claim this year, as well as the income you’ll need to declare and the records you need to keep. Even better, the guide has also been translated into other languages.

Tools and equipment

Bought new tools for work this year? You can claim a deduction for tools or equipment if you use them for work purposes. But remember:

  • if you also use the tools or equipment for private purposes, you can only claim the work-related portion.
  • If the tools and equipment cost more than $300, or are part of a set that together cost more than $300, you will need to claim a deduction over a number of years (decline in value).
  • if the tools or equipment are supplied by your employer, another person, or you’re reimbursed for the cost, you can’t claim a deduction.

Your union membership fees

Your membership fees are tax-deductible too, so don’t forget to claim them!

Keep on top of your records

Your ‘glovebox filing system’ is great, but there’s an easier way.

If you’re an employee or sole trader, use the myDeductions tool in the ATO app for a fast and easy way to store your receipts and keep track of your records!

The ATO app is also one of the best ways to track the progress and outcome of your tax return after you’ve lodged.

Want to learn more? Visit ato.gov.au/tradie

This article was publised on 29 June 2023.