Tax Time: What Every Tradie Needs to Know

Tax time doesn't have to be stressful. With the right preparation and knowledge, you can maximise deductions and avoid surprises. Here's what every tradie should know.

Common Deductions

Don't miss these:

• Tools and equipment (instant write-off up to thresholds)
• Vehicle expenses (logbook method or cents per kilometre)
• Protective clothing and uniforms
• Training and licensing costs
• Phone and internet (business portion)
• Home office expenses (if applicable)
• Insurance premiums
• Accounting and bookkeeping fees

Vehicle Logbooks

If you claim vehicle expenses, you need a logbook. Apps make this easy now — no more paper diaries. A 12-week logbook is valid for 5 years if your usage pattern stays consistent.

Instant Asset Write-Off

Stay across current thresholds. The instant asset write-off lets you deduct the full cost of tools and equipment in the year you buy them, rather than depreciating over time.

GST and BAS

If you're registered for GST, your BAS obligations are quarterly. Set aside GST as you earn it — don't treat it as your money. A separate savings account for GST prevents the "oh shit" moment when BAS is due.

Get a Good Accountant

A trade-specialist accountant pays for themselves. They know deductions you don't, keep you compliant, and save you hours of stress. This is not a corner to cut.

Keep Records

Digital receipt storage is your friend. Snap photos of every receipt, store them in the cloud, and never worry about faded paper again. The ATO accepts digital records — make your life easier.