28 April 2013

To ease the cost of buying tools for the job, most employees can salary package the cost of them and could save by paying with pre-tax dollars. Tools that are used for work are classed as “tools of trade” and are utilized mainly for executing work duties.

While major equipment like drill presses and lathe’s are not classed as being “tools of trade”, those that are include:

  • tool belts
  • manually operated tools
  • toolboxes
  • electrically powered hand tools

As most can salary package tools of trade, employees should check with their employer to see if this benefit is available to them.