Best Tax Deductions to Claim for Fashion, Industrial and Jewellery Designers
Fashion, Industrial and Jewellery Designers plan, design, develop and document products for mass, batch and one-off production.
Employment Profile
- Average weekly pay: $1,557.10
- Employment size: 12,600
- Future growth: Very 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, visit clients or attend training courses.
- 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, tools and equipment.
- Referral commission and expenses.
- Handbags, briefcases and satchels.
- Overnight travel expenses visiting clients, or for training/conferences – includes airfares, accommodation and meals.
- 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
Click here to see Tax Calculator for Fashion, Industrial and Jewellery Designers.
Stephen is the CEO of Accountants Direct and is a Professional Director, ASIC Agent, Startup Advisor & Investor & Capital Raising Specialist.
Contact Stephen or his team if you have any questions about this post or any business matter in general.
