If you buy tools, equipment or other assets which are related to your work, you may be eligible to claim a deduction for some or all of the cost. Depending on the cost of the item you will be able to claim either the full amount (if $300 or less), or you can claim a deduction for its decline in value (depreciate anything over $300). You will only be able to claim a deduction for the portion which relates to your income-producing activity (i.e. a computer may be used 50% for work and 50% for private use).
Accountants | Advisors