than $ 300 . This could include weight sets , TRX , kettlebells and other personal training equipment .
Remember , if you also use the equipment for your own training , you ’ ll need to apportion the cost between work use and personal use . You can only claim the workrelated element .
Instant asset write-off / temporary full expensing
If you own your own fitness business ( rather than being employed by somebody else ), you can write off items of equipment costing up to $ 150,000 each immediately ( rather than writing off the cost over the expected life of the asset ) if the equipment was purchased between 1 July 2020 and 6 October 2020 .
If you acquired the asset after 6 October 2020 , there is no limit to what you can claim , although you might struggle to spend more than $ 150,000 on an item of fitness equipment !
As well as fitness equipment , you can use the same tax break to write-off any other capital assets used in your business , including :
• TV sets and other equipment to build the ambience in your fitness area
• Furniture for break-out or rest areas
• Office furniture and equipment , like desks , chairs and cabinets
• Technology such as laptops , desktop computers , phones and tablets
• Motor vehicles .
Work-related training
You can claim expenses for university or TAFE fees to the extent that the course relates to your current employment and you ’ re not being reimbursed . For example , a personal trainer could claim for the cost of doing a Bachelor of Exercise Science . You can also claim associated costs such as text books , travel to the educational institution and stationery .
As a fitness professional , you need to undertake ongoing professional development to keep up to date with the latest practices in fitness and health , such as completing CEC courses or attending events like FILEX – even if they have been online virtual events this year – so it ’ s good to note that these costs will also be deductible to the extent they are linked to your current job .
You cannot , however , claim for a prevocational course , such as a Certificate III in Fitness .
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Other deductions
They may not be as significant in dollar terms as some of the items listed above , but make sure you claim the following :
• Any work-related subscriptions or membership fees ( including your subscription with Australian Fitness Network )
• Magazines , journals , books , apps or websites which are related to your work
• The cost of using your personal mobile phone for work-related purposes
• Equipment hire .
Working from home
As a result of COVID-19 , you may have had to relocate your working activity from business premises to your home for at least some part of the last financial year . If so , you can claim a rate of 80 cents per work hour , so you will need to keep a record of the number of hours you have worked from home as a result of COVID-19 . This will apply from 1 July 2020 until at least 30 June 2021 .
If you use the 80 cents per hour method , you can make no other claims in relation to working from home , so items like mobile phone and internet usage are included in the 80-cent rate .
The alternative rate of 52 cents per hour may be more appropriate . This doesn ’ t include phone costs , home internet or the cost of writing off home IT equipment , so when you make separate claims for those expenses , you may find that your total claim is higher . Your tax agent will be able to advise on which method produces the best results .
Gym memberships
Your job is to help everybody else improve their physical fitness , so surely it makes sense that you can claim the cost of boosting your own fitness ? Sadly not . The ATO takes a hard line on gym memberships , saying that they are only claimable where the person claiming them needs to have a level of fitness well above normal . Professional sportspeople are quoted by the ATO as an example of who can make a claim , while personal trainers and fitness instructors are specifically ruled out .
Remember to keep records !
Even if you ’ ve incurred any of the above expenses , the golden rule is that you can ’ t make a claim unless you can prove you spent the money ( and also that you weren ’ t reimbursed by your employer ). So , make sure you keep all relevant receipts , invoices , bank statements and credit card statements . If you ’ re not sure if you can make a claim , keep the receipt anyway and discuss it with your tax agent .
Mark Chapman Mark is the Director of Tax Communications at
H & R Block . A Chartered Accountant , CPA and Chartered Tax Adviser , he holds a Masters of Tax Law from the University of NSW . Mark also spent seven years as a Senior Director with the Australian Taxation Office .
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