End of financial year – the perfect time to upgrade your tech
The $20,000 instant asset write-off has been extended until 1 July 2019. Great news for small business, especially if you use it wisely.
You need to have less than $10 million annual turnover. The scheme lets you immediately write-off new assets worth less than $20,000 each including:
|IT hardware such as computers, printers, scanners, networks|
|Office or shop fittings and furniture|
|Work – not passenger cars|
|Sheds or containers for storing equipment|
|Tools and machinery|
|Plant and equipment|
With the end of the financial year around the corner, now is the perfect time to purchase seeing as you’ll be able to claim it in your tax return after 1 July 2018! Each asset costing less than $20,000 is eligible if it is a capital expense (Capex). Operational expenses (Opex) like installation costs or on-going cloud services are tax deductions anyway. You can purchase more than $20,000 of goods providing that no single item is greater than $20K.
While a 100% instant depreciation to reduce tax is a fantastic incentive to upgrade your computers and office technology, there’s even more bang for your buck in terms of improved productivity, reduced support costs and happier employees.
Let’s look at just a few of the benefits.
Hackers love old metal – get rid of it!
If your staff can access the internet, then they are a target for hackers and malware. Many older devices, including routers (the thing you connect to your PCs to access the internet), computers and operating systems can be vulnerable. Put simply, newer technology means better security to keep your businesses safe.
With the added processing power of the latest computers, intensive internet security software can run seamlessly in the background to keep an eye on things, without a noticeable impact on your other day-to-day tasks.
Considering the rise of ransomware, crypto-jacking and other sophisticated cyber threats, you really can’t afford to be complacent with security– and regularly updating hardware and software is a big part of protecting your business.
You’ll also find that newer devices have biometric features to increase security, such as built-in fingerprint scanners and dual-camera facial recognition systems. These are things that would be both expensive and difficult to find on 5 or more year old equipment.
Staff love technology that works 24/7
Technology today is implicitly linked to the all-important feel-good factor. With tech being such an integral part of the work environment, the brands, software and services employees use has a significant impact on whether they feel valued by the company they work for.
Employees also prefer to use the same devices and applications in business as they use at home. So if they have a modern machine at home, it can be demotivating to step down to a slower, clunky machine at work. Chip manufacturer Intel says that if you’re using a modern machine with an 8thGeneration Core processor you’ll benefit from over double the performance in speed and multi-tasking when compared to a five-year-old PC.
Recruiters universally state, “Technology is the future of staff retention.” Put simply, it is challenging to recruit and retain good staff without the latest desirable devices on your side.
Customers won’t tolerate “The computer is down”
With the prevalence of always-on, always-connected devices, customers have begun to expect 24/7 service. To meet this challenge, business systems and hardware need to keep up. Look at the furore when an airline reservation system or a bank payment platform goes down. Customers want to deal with companies with responsive and quick, well-designed websites and services. Investing in modern hardware can deliver in terms of consumer demand, and, when compared to 5-year-old technology, can cut support costs by 50 per cent, according to Intel’s research.
What should you buy?
Modern operating systems like Windows 10 or macOS running on highly secure 8th Generation Intel Core processors are inherently more reliable than machines that are 5 or more years old. They have fewer repairs and less downtime, lower running costs and are more secure.
Modern computers also enable secure file sharing, video conferencing, collaboration, project management, and access to productivity apps that simply will struggle to run on 5-year old metal.
These days the priority is all about equipping staff with the tools to do their jobs anywhere, any time – be it a mobile phone or ultra-light laptop with 4G/LTE internet access. If you haven’t gone shopping for new office technology, you might be surprised at how many different options you have to choose from, including super slim 2 in 1 ultra-portable laptops, convertible tablets with removable keyboards, all-in-one desktops, along with a myriad of shapes and sizes to suit your needs. Be sure to look for the latest biometric scanners and even 12 or more hours of battery life in your next portable device purchase too. So with the $20K instant asset write-off, there’s no better time to consider upgrading your office technology and reaping the productivity and cost-saving benefits.
For your hardware, we’d recommend trusted brands like Dell, Lenovo, HP and Microsoft. Click on the icons below for a great range of business machines that will help take your business to the next level.