Specific deductions: repairs and renewals: maintenance of a technical library
The expenditure incurred by a professional person in maintaining a technical library for use in their profession may be allowed. The expenditure may include the cost of:
- new editions of, and supplements to, books already owned,
- replacements by new books of books rendered obsolete by extensive changes in the law, etc,
- technical periodicals,
- periodical parts of law reports, etc,
- binding of supplements, periodicals, etc,
- access to online materials or books etc. on DVD or CD.
The initial cost of establishing a technical library of books may qualify for capital allowances.