Can I claim books and reference materials as a sole trader?
Yes — books, journals, magazines, and reference materials used wholly for your business are allowable expenses. The cost must be incurred for business purposes, not general personal interest. Clearly allowable: professional reference books for your trade (legal textbooks, accounting standards, medical references, technical manuals), industry trade journals, specialist publications used in your work. Not allowable: general interest books on topics related to your work but read for personal enjoyment, fiction, lifestyle books. For ebooks and digital publications: same rules apply — the format doesn't matter, the purpose does. If you subscribe to a digital library service (e.g. O'Reilly for tech, JSTOR for academics) for business research, this is similarly deductible.
- Professional reference books and trade journals: fully deductible
- Industry magazines and technical publications: allowable
- General interest books (even vaguely work-related): not allowable
- Digital publications and ebook subscriptions: same rules apply
- Claim under 'Books, journals and subscriptions' or 'Other expenses' on SA103