Keep up with Technology & Save on Tax!

Who can believe that its coming up to the end of financial year once again however with it fast approaching now is a good time to start thinking about your communications technology, how old it is and the benefits of updating to more recent technology prior to 30 June.

These benefits not only include reduced ongoing costs and increased staff efficiency but also the added benefit of reducing your tax bill for the financial year.

For the year ending 30 June 2013 purchases up to the value of $6,500 can be fully expensed rather than capitalised as an asset on your balance sheet therefore allowing you to claim the full amount as a tax deduction. This is a big benefit in reducing your taxable income and hence the tax that is calculated.

Purchases over this amount are classed as an asset on your balance sheet however you are able to claim depreciation on the cost.

A popular form of finance in the technology industry is to rent the equipment, due to the technology advancing and changing so quickly, you don’t have to worry about spending your reserves on something that might be outdated in a short period of time. These monthly rental payments are fully tax deductible and you can simply upgrade your equipment to more recent technology at the end.

Contact us for a free review of your communications and as business owners themselves, Ross and Andrew know exactly what’s important when investing time and money into into a product or solution.

Let us demonstrate our latest range of exciting products whether it be telephone systems, digital business, mobile phones or tablets, our aim is always to either make you money, save you money or increase staff productivity!