Trade Business? What can you claim in your business?
Every day we see receipts come in that the trade business owner is hoping to claim. So here is a short list of what the business can claim. Anything else and you might want to ask before using the company card or you may be able to claim them on your personal tax.
- Sunglasses, if you work outdoors, and they are not prescription. Safety glasses are also claimable.
- Uniforms, if they have a logo or specific to your job (Hi-Vis). If you can wear it somewhere else outside work (whether you would or not doesn't matter), you can't claim it, so the shorts from K-mart are most likely not claimable.
Shoes, leather or steel capped boots. Dress shoes for an presentation night or Nike's - probably not.
- Leather gloves if they are work gloves.
- Guard dog expenses for food and vet bills - if you have a dog that travels in your work truck that would scare someone off. Let us know what kind of dog you have and we will let you know if you can claim it.
- Sunscreen and first aid kits for your staff. Might be a good time to make sure you have these and they are stocked.
Also remember, as an employer, you are not required to provide everything. If your worker can claim a tax deduction on some items, then possibly leave that expense to them as they will take better care of items they purchase.