Taking On The Tax Man, Tradie Style!

Are you ready to tackle tax time?

From that morning iced coffee to grabbing the tools you need, it's important to know which of these expenses are claimable. Lucky for you, Porters Mitre 10 has your back with the ultimate guide to help you determine which expenses are eligible for claiming.

Let's start with protective clothing. As a tradie, personal protective equipment (PPE) is your trusty sidekick, and the best part is, it's tax deductible! Whether it's steel-cap boots, safety glasses, gloves, hard hats, and any other essential safety gear that shields you from work-related risks, you can claim them as deductible expenses. Safety first, folks!

Now, let's talk about tools and equipment.

Good news! You can deduct the expenses for the tools and equipment you need to get the job done.

If their value exceeds $300, you can claim a deduction for their depreciation over time. For costs under $300, you get an immediate deduction. That means your ladders, tape measures, hand tools, power tools, and all their useful accessories are eligible for tax deductions. Isn't that handy?

And for all the tradespeople who brave the great outdoors, there's a ray of sunshine for you too! You can claim a portion of the sun safety expenses directly related to your work. Sunscreen, sunhats, sunglasses – all the essentials that protect you from those harsh rays – can be included in your deductions. Stay safe under the sun!

By understanding and making the most of these deductible expenses, you can minimise your tax liability and potentially increase your tax refunds. Keep those records accurate, and don't hesitate to consult with a tax professional to ensure you're maximising your benefits.

Ready to stock up on all your tradie essentials? Head over to Porters Mitre 10 and explore our full range in-store. Your future tax refund will thank you!

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