The agents checklist for tradies in NSW

How to help your trades clients in NSW as an accountant 

If you have clients that are tradies in NSW, follow our checklist below to help them file their taxes:

Maintain accurate records

It’s important to encourage your trades clients to keep detailed records of all business income and expenses throughout the year.  This includes safely storing receipts, invoices, and bank statements.

Claim all eligible deductions

Your trades client may be eligible to claim a range of deductions on their tax return.  Applicable deductions may include tools and equipment, work-related travel expenses, and even protective clothing and work uniforms.  For example, if your client is a builder he can claim uniforms he supplies his employees with.

Explain GST to your trades clients

If your client’s business has an annual turnover of $75,000 or more, they must register for GST.  Small businesses may be able to claim GST on business-related expenses.

Help clients to determine the best business structure

The way your client business is structured can impact tax liabilities and may have different tax-related benefits.  You can explain the different legal business structures in Australia including sole trader, partnership, or company entities. 

Educate clients on their superannuation obligations

Your business clients must make regular superannuation contributions for any eligible employees.  You should also advise your client that they should contribute to their own superannuation fund if they are earning a wage from their trades  business.