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Debt Collectors

Best Tax Deductions to Claim for Debt Collectors

Debt Collectors collect debt for clients, make arrangements to settle overdue accounts, formalise payment arrangements and follow up until accounts are fully paid.

Employment Profile

  • Average weekly pay: $1.173
  • Employment size: 6,510
  • Future growth: Decline
  • Skill level: Certificate II or III

Typical tax deductions include:

  • Motor vehicle travel to and from work if having shifting workplaces – working at more than one site each day before returning home.
  • Motor vehicle travel between offices, visiting clients or for training purposes.
  • Phone and internet – work %.
  • Client gifts bought for work purposes if entitled to receive commission income – includes a Christmas hamper, a bottle of whisky, wine, gift vouchers, flowers, etc.
  • Home office occupancy expenses if required by the employer to work from home – includes rent, mortgage interest, rates, insurance, etc.
  • Computers, cameras, video recorders, equipment, and tools.
  • Referral commission and expenses.
  • Handbags, briefcases and satchels.
  • Overnight travel expenses visiting clients or attending training.
  • Home office running expenses.
  • Compulsory work uniform branded with the employers logo.
  • Union fees, licences, registrations and subscriptions.
  • Work-related training courses – includes first aid, OH&S, bookkeeping, sales techniques, customer service, merchandising, computer skills or management.
  • Self-education expenses – includes course fees, books, stationery, equipment and travel.

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 such as buying lunch for a client or business associate.
  • Expenses incurred in attending social functions e.g. monthly 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
  • Overnight travel expenses

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Click here to see Tax Calculator for Debt Collectors.

 

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