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conveyancer

Best Tax Deductions to Claim for Conveyancers

Conveyancers act for clients in transferring a property from the seller to the buyer.

Employment Profile

  • Average weekly pay: $1,447.85
  • Employment size: 29,400
  • Future growth: Strong
  • Skill level: Bachelor degree or higher

Typical tax deductions include:

  • Motor vehicle travel to and from work if having either shifting workplaces (working at more than one site each day before returning home), or transporting bulky equipment.
  • Motor vehicle travel between job sites, to pick up materials, or attending training courses.
  • Phone and internet – work %.
  • Client gifts bought for work purposes by conveyancers who are entitled to receive commission income – includes a Christmas hamper, a bottle of whisky, wine, gift vouchers, flowers, etc.
  • Computers, cameras, video recorders, and equipment.
  • Home occupancy costs if required by the employer to work from home – incudes % of rent, mortgage interest, rates, insurance, etc.
  • Referral commission and expenses.
  • Handbags, briefcases and satchels.
  • Overnight travel expenses visiting clients, attending different workplaces or attending training.
  • Compulsory work uniform branded with the employers logo.
  • Self-education expenses.

Professional memberships.

Non-deductible expenses:

  • Advertising – If earning income from a fixed salary and not entitled to earn commission.
  • Gifts – If earning a fixed income and not entitled to earn commission.
  • Entertainment expenses including buying lunch for a client or business associate.
  • Expenses incurred in attending social functions e.g. monthly sales representative networking breakfasts.

Tax Strategies we can assist you with.

  • Self-education expenses
  • Computers, tools, equipment and other assets
  • Compulsory work uniform
  • Gifts to clients, suppliers and contractors
  • Union fees, licences, registrations and subscriptions
  • Phone and internet
  • Motor vehicle expenses: cents per km method
  • Home office running expenses
  • Handbags, briefcases and satchels

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Click here to see Tax Calculator for Conveyancers.

 

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