Best Tax Deductions to Claim for Sportspersons
Sportspersons participate in sporting events for monetary gain either as individuals or as members of a team.
Employment Profile
- Average weekly pay: $2,300
- Employment size: 10,185
- Future growth: Strong
- Skill level: Certificate III or IV
Typical tax deductions include:
- Costs of maintaining a very high level of fitness and physical activity – e.g. gym fees and training fees.
- Legal expenses, fines and penalties for on-field conduct.
- Player-manager and agent fees.
- Union fees, licences, registrations and subscriptions – includes professional association fees and competition entry fees.
- Motor vehicle travel to and from training, matches and other sporting activities if required to transport bulky sporting gear.
- Overnight travel expenses if required to travel away from home overnight to play an interstate or overseas game.
- Phone and internet – work %.
- Luggage if used to transport gear used to play an interstate game.
- Visits to the physio or chiropractor – TR 95/D5.
- Compulsory or corporate clothing, where there is a strictly enforced policy making it compulsory to wear that clothing – this includes shirts with club emblems or embellishments, standard matching shorts or tracksuits, hats or caps with club emblems, jerseys and jumpers with club emblems, and suits with club emblems.
- Protective clothing including headgear, mouthguards, sun-protection clothing, and sports skins.
- Sun protection items including sunglasses, sunscreens, and cosmetics.
- Computers, tools, and equipment – includes training equipment such as weights, mats, bars, sound system, and treadmill.
- Self-education expenses if related to current occupation.
- Home office running expenses.
Professional memberships.
Non-deductible expenses:
- Medical expenses.
- General exercise clothing including tracksuits, shorts, tank tops, running shoes, sweat socks, armbands, headbands, and t-shirts.
- Vitamins, minerals, sports supplements (used pre- or post-game such as protein shakes), food substitutes, weight management programme costs and hygiene products.
Tax Strategies we can assist you with.
- Self-education expenses
- Sunglasses, sunscreens and cosmetics
- Computers, tools, equipment and other assets
- Protective clothing
- Compulsory work uniform
- Logbook for motor vehicles
- Phone and internet
- Home office running expenses
- Fitness expenses
- Overnight travel expenses
Click our income tax calculator to see Tax Calculator for Sportspersons.
