Best Tax Deductions to Claim for Stock Agents, Wool Buyers and Auctioneers
Stock Agents advise and represent farmers in business transactions such as buying and selling livestock, rural property, and goods and services.
Employment Profile
- Average weekly pay: $1,092.50
- Employment size: 9,765
- Future growth: Decline
- Skill level: Certificate III or IV
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 attend training courses.
- Phone and internet – work %.
- Dogs, when used at worksites to guard the tools against theft. The vet bills and pet food bills may qualify as a tax deduction.
- Overnight travel expenses visiting clients or attending different workplaces – includes airfares, meals and accommodation.
- Client gifts brought for work purposes when entitled to receive commission income – include a bottle of scotch, wine, flowers, hamper, etc.
- Protective clothing including safety-coloured vests, steel-capped boots, gloves, and overalls.
- Compulsory work uniform branded with the employers logo.
- Sun protection costs including sunglasses, sunscreen and cosmetics.
- Union fees, licences, registrations and subscriptions.
- Courses, seminars and self-education expenses.
- Computers, tools and equipment.
- Home office running expenses.
Tax Strategies we can assist you with.
- Sunglasses, sunscreens and cosmetics
- Computers, tools, equipment and other assets
- Compulsory work uniform
- Logbook for motor vehicles
- Tax deductible dogs
- Gifts to clients, suppliers and contractors
- Union fees, licences, registrations and subscriptions
- Phone and internet
- Home office running expenses
- Overnight travel expenses
Click here to see Tax Calculator for Stock Agents, Wool Buyers and Auctioneers.
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.
