If you work in the building and construction industry, there is a range of tax deductions available to you, based on your employment. To make things a little easier, we’ve compiled a list of deductions you can claim before October 31.
Tax Deductions for Building and Construction Employees: Motor Vehicle, Meals, and Travel
- You may claim the cost of your personal car if it is used for work purposes, including travel to meetings, conferences or training that is not held at your usual place of work, or to visit your patients at their homes. If you do plan on claiming the cost of using your personal vehicle, you will need to keep a diary of trips in order to provide an estimate of the number of kilometres travelled. For more information motor vehicle claims, visit: Vehicle Tax Deductions.
- Parking fees and tolls can be claimed if the travel comes under the two rules above for claiming travel.
- As long as your employer doesn’t reimburse the expenses you can claim meals, accommodation, incidentals and travel costs (vehicle, airfares, public transport and taxi fares) associated with overnight stays for work.
For more information, visit Work Related Travel Expenses.
Tax Deductions for Building and Construction Employees: Work Clothing
- You can claim the costs of renting, buying, laundering and repairing compulsory uniforms with a company logo as a deductible expense.
- The cost of purchasing protective clothing and footwear is also deductible including:
- Safety items such as glasses, gloves, steel-cap boots, high-visibility clothing, overalls, heavy duty shirts and pants, and fire resistant clothing
- Sun protection clothing and sunscreen
For more information, visit: Uniform Claims.
Tax Deductions for Building and Construction Employees: Training
- You are able to make claims for self-education expenses as long as the education is connected to your current employment and designed to improve your skills or increase your income potential in your current role.
- You can claim the cost of attending seminars, conferences and training courses such as first aid courses.
- You are able to claim the cost of textbooks, course fees, stationary, Internet access, student union fees, travel expenses and decline in value of equipment (such as computers)
For more information, visit: Self-Education Expenses.
Tax Deductions for Building and Construction Employees: Other Expenses
- You can claim the cost of work-related phone calls, just be sure to keep the copies of some itemised bills to support your work related claim.
- Union and professional association fees can be claimed.
- Home Office – If you perform some of your work from your home office, you may be able to claim a deduction for the costs you incur. The Taxation office allows a deduction of $0.45 per hour to cover the expenses of heating, cooling, lighting and depreciation of general office furniture such as chair and desk. Expenses such as stationery, telephone, internet, computers, etc can be claimed separately.
- You can make an immediate claim for the purchase of work related equipment under $300. If the equipment cost more than $300 you can claim depreciation expenses over the life of that asset.
- The cost of insuring tools can be claimed and interest charges associated with borrowing money to buy tools can also be claimed.
- You cannot claim the cost of getting work-related licenses and certificates but you can claim the cost of renewing them.
- Journals, periodicals and magazines related to your industry can be claimed.
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