If you are a personal trainer, then no doubt you need to spend a bit to help get your clients into tip-top shape.
The good news is, you can claim some of these back as tax deductions in your tax return.
Now don’t get too excited – first, you need to remember the ATO’s 3 golden rules:
- You must have spent the money yourself, and not been given the money back from your boss.
- It must be directly related to earning your wage.
- You must have a record to prove that you spent the money and what you spent it on – see our record-keeping blog for more info
Now that we have the rules out of the way – see below for a list of the common deductions a personal trainer may be able to claim:
- Professional Registration Fees
- Union Fees
- Fitness journals or books
- Car expenses for work travel
- Home Office (If you need to work from home and you work in an office – you can’t work at your kitchen table)
- Equipment/Depreciation (If you don’t use it 100% for work, you need to work out how much is work use and how much is personal)
- Hiring equipment or halls for training
- Mobile phone and/or Internet
- Course/Study Expenses
- Clothing & laundry – this needs to have the company logo on it
- Sun protection e.g. sun hats and sunglasses
You can’t claim
- Personal clothing and runners
- Tools or equipment that is not used for fitness
- Travel from home to work
- Courses that help you get a job
When completing your Gotax Online E-Tax Return, there will be an option to enter your deductions for any work-related expenses. If you aren’t sure whether you can claim a deduction you can give one of our fully qualified tax accountants a call and they can help you out.
Claim your tax deductions with Gotax Online!
Speedy Gonzalez $10, Not too much to claim $38.50, One with the lot $64.95 and if it’s your first time, do it for FREE!
Note that the information provided is general in nature and subject to change, please contact one of our professionals who can evaluate your circumstances and provide more accurate advice to your current situation.