EOFY: the best time to shop for your Uniform needs
The countdown begins, as this is the last week for End of Financial Year (EOFY), and it is time to start planning your finances. But, hang on, did we say "planning your finances"? and is that for paying tax or saving tax?
EOFY is also a time to make some profitable purchases, purchases that could help you deduct from the tax you need to pay the government. Yeah, there are plenty of ways by which you can claim a tax deduction, and one of the ways is to purchase clothing for your work needs. Well, you cannot claim a tax deduction on any type of clothing you wear for work. You can only claim deductions for some specific type of clothing used at work.
Tax deduction on clothing purchase is applicable for garments that are:
- Compulsory Uniforms – If your workplace follows a particular or compulsory uniform, then you can claim the cost of buying it. The work uniform also should have your employer’s logo embroidered on it.
- Occupation Specific Clothing – Any clothing that is specific to your profession, say the checked pants of a chef, that can allow the public to easily recognize your profession. You cannot have those work clothes that can double up as casual wear as eligible ones for tax deduction.
- Protective Clothing – These are clothing or equipment that can protect you from any risk of illness or injury posed by your work environment. Only those clothing that provides a sufficient degree of protection can be deemed as protective clothing. They can include Fire Resistant and Sun protection clothing, Hi-Vis clothing, Overalls, Aprons and so on.
- Non-Compulsory Uniforms – Cost of purchasing shirts and bottoms that are a part of non-compulsory uniforms that has its design registered with AusIndustry can be considered as eligible for claiming tax deduction.
There could be no better time than EOFY to purchase clothing for your uniform needs and have some deductions on tax. Uniform Wholesalers, Australia’s biggest online destination for Corporate Uniforms, Promotional Clothing and Team Uniforms, brings to you some of the best uniform brands in Australia like Biz Collection, Aussie Pacific, Winning Spirit, Van Heusen, DNC Workwear and so on. At Uniform Wholesalers, you can shop for Corporate Uniform products like Gents Shirts, Gents Pants, Ladies Pants, Ladies Skirts, Occupation clothing such as Aprons, Chef Pants, Chef Jackets, and Protective Clothing like Overalls.
Decorating your corporate uniform with your employer’s logo, to make it distinctive can also help you claim tax deduction. The Embroidery Services at Uniform Wholesalers can help you embellish your uniform by having your employer logo embroidered on it. You can avail uniform embroidery over Left or Right Chest and Back of the uniform. We also provide services Cap Embroidery and Name Embroidery.
Make the most of this EOFY times and purchase some of the best uniforms with Uniform Wholesalers. Visit www.uniformwholesalers.com.au.A Point to Note: The above is general advice and may not be suitable for your business. Please speak to your financial professional or accountant to understand more on tax deductions or call the tax office.
- Deepa Sabnani