Wiser Technology Advice Blog

How to make the best of End of Financial Year savings

Sonya Weiser - Tuesday, June 07, 2016

As most small businesses will be aware you can claim immediate deductions on depreciable assets under $20,000 prior to the end of the financial year.

For those that are not, in a nutshell, any business that meets the definition of a small business entity, that is one with an aggregated turnover less than $2 million, may be eligible to claim an immediate deduction for the cost of depreciating assets acquired for less than $20,000.

This then begs the question “to spend or not to spend”? It can be very tempting when there are discount deals abound and tax deductions to be had to get caught in spending frenzy. But is this right path for your business?

This is where we find Small Businesses fall into a trap with Information Technology procurement. They get “talked” into or “scared” into buying technology they don’t fully understand because “specialists” tell them they need it, and the price at this time of the year can be too tempting to ignore. But there is no point buying a new server, or software licences or moving to the cloud, just because it is cheap. It will only cost your business more in the long run if you don’t plan for what your business needs both now and in the future.

Wiser Connections can help.

We can provide specialised private workshops that help you identify your business needs first; and then how the end of financial year savings can assist you!

Wiser Connections is unique. We are proudly independent - we don’t have a system to sell or a platform to promote. We don’t expect your business to change in order to fit the technology. Instead, we help you to plan, select and implement systems that can adapt to suit your needs.

We are not resellers of software and not in the business of presenting your organisation with flash new technology or the latest systems just because it’s the ‘next big thing’. We will only help you plan for a system if we know that your business really needs it.

Wiser Connections will give you honest business process and procurement advice without “scaring” you into buying technology your business doesn’t need.

These workshops are tailored to suit your individual business requirements, whether it be a 1 hour one on one session with the business owner, or full day with all key stakeholders.

In addition to the workshops we can also assist you with preparing board reports or a business case to present to the board for your IT procurement needs.

Information Technology is a serious investment and at this time of year there are significant savings that can be made, but it is short sighted to buy assets just because they are on special or can immediately depreciated if they are not what your business truly needs!

 

Please contact us today to have one of our consultants discuss your planning needs and for a confidential chat about how Wiser Connections can assist your business in making the most of your Information Technology budget. Wiser Technology Planning

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