Tradies

The instant asset write-off allows eligible Australian small businesses to immediately deduct the cost of new or second-hand assets in the income year they are first used or installed ready for use, rather than depreciating them over several years.

Tradies have some of the broadest deduction categories of any occupation — but also some of the highest ATO audit rates.

For most tradies, the work vehicle is the single largest tax deduction available.

Western Australia regulates most building and trade activities through a licensing system administered by the Building Services Board (building, painting, cabinetmaking), the Electrical Licensing Board (electrical), and the Plumbers Licensing Board (plumbing, gasfitting, drainage).

A good quote wins the job, covers your costs, and delivers a fair profit.