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You may be able to claim deductions for depreciation on the assets that you use in your income earning activity. Examples of these assets might be:

  • computers or game consoles
  • cameras, lighting, or microphones
  • vehicles, if your content creation activity involves the use of a vehicle.  For example, a travel writer that uses the vehicle when creating travel related content.

Limited to content creation use

Depreciation can only be claimed based on the amount it is used in the content creation activity. If the assets are also used privately, this portion of depreciation cannot be claimed. In other words, the depreciation losses must be split between the content creation activity use and the private use.

Claiming depreciation

Depreciation is normally claimed against your content creating income over multiple years, depending on the estimated useful life of an asset. However, for some low-value assets, depreciation loss can be claimed in full in the income year the asset is purchased. The low-value threshold is $1,000.

You can use the depreciation rate finder and calculator to work out which rate to use for your assets and calculate how much to claim each year.

Depreciation rate finder and calculator

More information on depreciation

For more information on claiming deductions for depreciation loss and identifying the correct depreciation rate and the useful life of an asset, see our webpage and guides - the IR260 and the IR265 that provides a step-by-step process to find the right depreciation rate.

Depreciation


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Last updated: 21 Nov 2021
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