Tax Deductions for the Fitness Industry

Personal Trainer/Instructor Tax Deductions

For the most optimal tax result, you need to understand what you can - and can't - claim against your taxes, so here's my list of deductions all fitness workers should consider this year. The team at Tailored Accounting Solutions have you covered your tax.

The cost of travel and meals

It is not normally possible to claim the cost of your daily commute to and from work. If your workplace does not have a secure place to store bulky equipment (such as inflatable exercise balls, or other exercise equipment), you must carry it to and from work.

You can claim the cost of travelling between two workplaces, such as between two gyms or between two personal training appointments.

You can either claim .72 cents per kilometre for all work journeys if you use your own car for work or you can claim actual expenses if you use your own car. Keep a logbook of all your journeys for a 12-week period if you choose the latter.

Can I claim my gym clothes?

You can deduct clothing with the logo of the gym or sporting club where you work that you wear as a uniform to work.

You cannot deduct the cost of purchasing or cleaning a plain uniform or conventional clothing you wear to work, even if your employer directs you to do so. Leggins, shorts, tank tops, running shorts, socks, t-shirts, and other general exercise clothing cannot be claimed.

Sun protection gear such as sunglasses, hats, and sunscreen can be claimed if you take classes outdoors.

Can I claim gym equipment?

Work equipment that costs less than $300 is eligible for an immediate deduction. If the item costs more than $300, it can be written off over the expected life of the asset. Personal training equipment could include weight sets, treadmills, exercise bikes, and more.

If you also use the equipment for personal use, you'll need to apportion the cost accordingly. You can only claim the work-related element.

You can write off items of fitness equipment costing up to $150,000 immediately if you own your own fitness business (rather than being employed by someone else). In addition to fitness equipment, you can also write off any other capital assets in your business, such as:

• TVs and other fitness equipment to create an "ambience"
• A break-out area or a rest area with furniture
• Office equipment, like desks, chairs and cabinets
• Technology such as laptops, desktop computers, phones and tablets
• Motor vehicles

Work-related training

If the course relates to your current employment and you're not being reimbursed, you can claim expenses for university or TAFE fees. Personal trainers, for instance, may claim the cost of completing a Bachelor of Exercise Science degree. Associated costs, such as textbooks, travel to the educational institution, and stationery, can also be claimed.

Your professional development costs will also be deductible if they are related to your current job and keep you up-to-date on the latest trends and practices in fitness and health.

No matter which of the above expenses you've incurred, you can't make a claim unless you can prove you spent the money (and that you weren't reimbursed by your employer). You should therefore keep all receipts, invoices, bank statements, and credit card statements.