Tax Deductions for Builders

Some deductions that may be available to builders include:

• Travel between building sites;

• Technical journals and books;

• Memberships to unions and professional associations;

• Outdoor protection items such as sunglasses and sunscreen if working outdoors;

• Protective clothing such as steel capped boots;

• Tools and equipment (deductible if less than $1,000 or depreciable if over $1,000) as well as any costs incurred to insure them;

• Professional indemnity insurance.

Builders may also be entitled to general tax deductions that are not work specific, such as investment deductions or car expenses deductions.