Books, periodicals and digital information

'Digital information' includes online subscriptions, electronic published material such as e-books or e-journals and other purchased digital materials.

If the item cost less than $300 you can claim an immediate deduction where it satisfies all of the following requirements:

  • It is used predominantly for earning assessable income that is not income from carrying on a business.
  • It is not part of a set of assets acquired in the same income year that costs more than $300.
  • It is not one of a number of identical or substantially identical items acquired in the same income year that together cost more than $300.

If the item cost more than $300, or is part of a set that cost more than $300, you can add it to your professional library and claim a deduction for the decline in value.

See also:

Last modified: 04 Aug 2016QC 31988