Attention Tradies! The Top 10 Tax Deductions You Need to Know
Author │ Simon Liddicoat – MAS Tax Accountants Duncraig-Warwick
Are you paying more tax then you should be? Is your business structured properly? Are you claiming all the deductions that you are entitled to? These are just a few questions that you need to be asking when lodging your tax return. At MAS Tax Accountants, our Tradie Accountant Greenwood specialises in the tax and accounting matters of tradesman and can help you to improve your financial position.
Providing complete tax services, our holistic approach ensures that your tax affairs are handled with efficiency and care. We take the time to understand your tax obligations and advise how you can get the best from your tax, including legally increasing your tax return. Our expert Tradie Accountant Greenwood works with you to cover the finer details and provide accurate, reliable services.
We have compiled the Top 10 Tax Deductions that tradesmen should be claiming, but are often overlooked, and that our expert Tax Accountants can assist you with. These include:
- Vehicle Expenses
- Small Tools and Equipment/Assets
- Equipment Repairs
- Protective Clothing
- Laundry of Protective Clothing
- Certifications and Licences
- Work-related Mobile Phone Costs
- Travel Expenses
- Union Fees
- Your Tax Agents Fees
If you are running your own business, it’s likely that this list will be much longer and that you may be eligible for certain business tax concessions. You will also need to take careful considerations how your business is structured, as it may affect your tax eligibilities. At MAS Tax Accountants, we can also assist you with these decisions, and provide the needed support from setting up your business, submitting tax and BAS statements, and everything else in between.
Learn more about our Duncraig / Greenwood office, including our Personal Tax, Business and SMSF services.
For more information or to schedule an appointment, please contact us below or call us on 0409 683 469