If your business turns over less than 10 million dollars per year, and you are looking at purchasing some new assets up to $20K( per item) you can still use the Simplified depreciation method, which the Tax office introduced last year, to Immediately claim back the depreciation on the entire amount this financial year.
This tax rule is scheduled to end on the 30th June 2017.
We have thought of some ideas on how you could invest in IT.
Improving your business efficiency is always a great idea!
•Implement a studio management system to help with time billing (if that’s relevant for your business)
•Implement a customer relationship management system to help with the sales and customer service process
•Replace an ageing server, or add/upgrade one to improve performance/reduce risk
•Replace your ageing computers
•Upgrade software and/or operating systems
•Replace and/or implement a firewall to improve network performance, security and/or remote access
•Upgrade your network switches for better performance or reliability
•Upgrade or enhance your backup solution
If you have any other thoughts or ideas or want to discuss any of these further, don’t hesitate to call the office.
You can find more information on the Tax rule here.