Spending long periods of time away from your home can be expensive for many truck drivers. Thankfully there are plenty of expenses that can be claimed as a truck driver tax deduction on your annual tax return.
As you are likely to expect, maintenance and repairs of your vehicle as well as running costs can be claimed on your tax return. What you may not know is that truck driver tax deductions can also include the costs of training courses, meals and accommodation, membership fees and many other work-related expenses they pay for while carrying out everyday duties.
Truck driver tax deductions are numerous but make sure you keep a record of all your expenses otherwise you won’t be able to claim them at tax time.
General Equipment Costs
- Mobile phone
- Tools
- CB radio
- Portable refrigerator/cooler
- Tablets and laptops
- First aid equipment
- Bedding
- Stationary (for example; diary, log books etc.)
- Work bag
- Vehicle maintenance tools
- Expenses related to reimbursements
Meals, Travel and Accommodation Expenses
- Meal costs when working overtime
- Meal costs when you are working away from home (overnight trips etc.)
- Accommodation costs when working or training away from home
- Incidental costs
- Work related travel and/or car expenses for traveling to pick up equipment, between depots, to meetings or training. (Unless you are carrying heavy equipment that cannot be left on site, travel costs between home and your usual depot are not deductible.)
Vehicle Expenses
- Registration and Insurance
- Cleaning and general maintenance
- Truck repairs and parts
- Running costs
- Parking fees
- Tolls
- Depreciation of your truck (if owned)
- Interest on truck loan (if still purchasing the truck)
- Lease payments (If leasing the truck)
Training
- Internet
- Travel Costs
- Phone calls (you can only claim the portion of your phone use that is work related. You’ll need to work out what that percentage is, and you’ll need to keep records of those costs.
- Accommodation and meals (if the course requires you to stay overnight)
- Tools and equipment required to undertake the course
- Books and training manuals
Clothing and Protective Equipment
- The purchase and repair of uniforms or clothing with company logo
- Laundry and dry-cleaning costs of uniforms or clothing with company logo
- Costs of protective equipment such as;
- Boots
- Masks
- Overalls and gloves
- Head gear and goggles
- High-vis vests, jackets and trousers
- Sunscreen and Sunglasses (If it is a requirement for you to regularly work outside or contend with the damaging rays of the sun in some way. You can claim tax deductions for your sun protection costs each year).
Other Potential Truck Driver Tax Deductions
- The cost of new or renewing licenses or permits required to carry out your work
- Union fees and other membership fees
- Work related phone calls and internet connection fees (percentage used for your work only)
- Books and magazines related to your work
Other General Tax Deductions
- Tax agent fees and travel to and from your tax agent
- Income protection payments
- Interest (on investment accounts)
- Charity donations (this deduction is only available if the charity is a registered Deductible Gift Recipient).