What is 100% tax-deductible in Australia for individuals and artists includes many work-related expenses that you can claim fully in year you incur them, not depreciated. For general taxpayers, 100% deductible includes work-related uniforms with logo, laundry of work clothes $150 without receipts, tools under $300, work-related phone and internet portion, union fees, professional memberships, work-related education that relates to current job, donations to Deductible Gift Recipients over $2, income protection insurance premiums, tax agent fees, and charitable donations. For artists who are sole traders or ABN holders, 100% deductible includes art materials like canvas, paint, brushes, clay, printing costs, studio rent if dedicated studio, studio insurance including public liability and fine art insurance, gallery commissions, website and marketing costs, exhibition entry fees, travel to exhibitions and galleries, photography of artwork, professional development like workshops and books, and home office running costs at $0.67 per hour if using home studio. Equipment over $300 like easel $500, kiln $2,000, computer $1,500 is not 100% immediate, it is depreciated over effective life unless you use instant asset write-off for small business turnover under $10M where assets under $20,000 can be immediately 100% deductible in 2024-2025. Car expenses for art business at cents per km or logbook portion are 100% deductible for business portion. Always keep receipts and diary.
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