Electrical & Trade

Common deductions for trade businesses include tools and equipment, work vehicle costs, safety gear and workwear, mobile phone and data costs, trade licences and registrations, and a portion of home office expenses if applicable. We review your expenses each year to make sure you are claiming everything you are entitled to.

Yes. If your business is in the building and construction industry and makes payments to subcontractors, you are required to lodge a Taxable Payments Annual Report by 28 August each year. The report lists all subcontractors you paid during the financial year, their ABN, and total payments made. We handle this for all our trade clients.

It depends on your turnover and circumstances. At lower income levels, operating as a sole trader is often the simplest and most cost-effective approach. As your income grows, a company structure can offer significant tax savings and asset protection benefits. We review your numbers and recommend the right structure for where you are now and where you are headed.

The key is having a system that captures your income and expenses automatically throughout the quarter rather than trying to piece everything together at BAS time. We set up Xero with bank feeds and expense tracking so your BAS preparation takes minutes rather than hours.

Yes, if the vehicle is used for business purposes. You can claim either using the logbook method, which allows you to claim the business-use percentage of all vehicle costs, or the cents-per-kilometre method for smaller claims. We assess which method gives you the better outcome and set up a logbook system if needed.