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.