10 tax deductions for beauty salons

Alright, let’s break down 10 tax deductions that beauty salons can take advantage of.

  1. Equipment Purchases: Any beauty equipment you buy, like hairdryers, styling tools, or facial machines, are tax-deductible. Just keep those receipts!

  2. Product Inventory: The cost of beauty products you sell (like shampoos, conditioners, and skincare products) can be deducted.

  3. Rent: If you’re renting a space for your salon, that rent is a deductible expense. Just make sure it’s actually used for business.

  4. Utilities: Your electricity, water, and gas bills for the salon can be deducted. Keep track of these costs—every little bit helps!

  5. Staff Wages: Salaries and wages paid to your employees are deductible. This also includes superannuation contributions.

  6. Training and Education: Any courses or training you provide to your staff (or take yourself) to improve skills are tax-deductible. Invest in your team!

  7. Marketing and Advertising: Costs associated with promoting your salon, whether it’s online ads, print materials, or social media campaigns, can be deducted.

  8. Insurance: Any insurance premiums you pay for your business, including public liability and professional indemnity, are deductible.

  9. Fees: Fees paid to accountants, consultants, or legal advisors for business-related services can be claimed. As can bank / card machine fees, overdraft and equipment loan interest.

  10. Vehicle Expenses: If you use a vehicle for business purposes (like running visiting clients or transporting products), you can claim a deduction for those expenses. Keep a logbook to track your business use.

There you go! Make sure to keep detailed records and consult with your accountant to ensure you’re maximising your deductions.


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