Of course, the best time to buy a new laptop is when your old one has a meltdown. But if you’ve been thinking about upgrading anyway, do it before June 30 this year. Here’s why.
The instant write-off
If you have a small business with an annual turnover of less than $2 million, you’re eligible to an immediate tax write off on purchases up to $20,000.
So essentially, replace your aging laptop before June 30 this year, and claim the full cost in your business’s next tax return. That is, spend $20,000 and the average small business will get just under $6000 back.
And the scheme is not limited to laptops – purchase any depreciating assets under $20,000, such as new equipment, software or even vehicles.
The scheme encourages small and medium businesses to invest in new assets and grow by upgrading or replacing equipment and machinery. So only make the investment if your cash flow is healthy and it’s going to make you money – either by generating additional sales revenue or creating cost savings.
You’re already thinking about the future
End of financial year and tax time is a period of evaluation, which makes it an ideal opportunity to assess the health of your business and how technology contributes. Are you losing productivity due to slow computers or old software? Investing in a tech upgrade might cost in the short term, but it could help increase sales volumes, or at the very least, avoid stagnation.
It doesn’t necessarily take a formal assessment to identify if old technology is costing your business. Simply look out for red flags such as:
- More IT requests and/or employees complaining about tech crashes and loading speed
- Security breaches/hacks into business and client data
- Hardware and software more than five years old
So, take the time to look at all the inefficiencies in your business, what’s causing them, and what tools or tech you could implement now to get the 2017-18 financial year off to an improved start.
Accounting software like QuickBooks Online is helpful for keeping tabs on the overall health of your business, and helping you get organised for tax time.
Laptops are greater than ever
Laptops have come a long way since the 80’s (not that yours is that old). From the laughable 5kg, to the now <1kg, weight is just one factor that’s noticeably improved – even in the past two years! This year’s laptops are faster, more powerful, more durable, have better display, detachable keyboards, more storage and are engineered for a longer battery life, and in some cases, they’re even water resistant.
Just think about it; battery life alone can increase an individual’s productivity! So imagine the other ways that new laptops can encourage growth, productivity and prevent stagnation in your business
Gain the courage to consider different brands in your search. Brands like Lenovo are leaving no stone unturned in their quest to make great laptops, and the 2017 range is said to have a ‘leg-up on the Mac’ – Bryan Nystedt, reviewed.com.
It’s sale time
We’ve probably already made our point. But investing in a technology upgrade can provide some of the biggest cost-to-benefit ratios. Especially considering the price of advanced tech is always dropping.
Now’s the perfect time of year to nab a bargain, with up to 30% off Lenovo laptops. All the best in the range are on sale, ready for shipping in just two days. But hurry, the sale ends June 30, 2017.
Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.