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March 10, 2023 - 5 min read Tax time is looming, but it shouldn’t be all gloom and doom. If you have a small business there are many different types of tax deduction and claims you can make, so it can be a great opportunity to upgrade your devices and appliances. Even better, with all the EOFY sales in the lead up to June 30, you can pick up some great deals. Whether you’d like to get the latest laptop for your home office or jazz up your waiting room with a smart TV, we’ve got plenty of ideas to help you!
Depending on the size of your small business you may be eligible to deduct the entirety or part of your purchases with the instant asset write-off scheme. There are threshold limits and eligibility criteria, so be sure to check out the ATO website and speak to your accountant for more information.
Do you have a small business with a home office, office kitchen or waiting room that needs updating? Perhaps you’d like to upgrade your devices, hospitality or salon equipment or maybe spruce up your gallery or retail space? Keep reading for value-adding inspiration!
Whether you have a small office space or a workplace set up at home, now is the perfect time to upgrade on office essentials and cross off those items on your wish list before the end of financial year. Top 8 Things to Consider Buying for your Home Office at Tax Time
Faster computer to improve productivity
Bigger monitor so you can see more at once
65-inch (or larger) TV so your presentations look clear
USB sticks and hard drives to back up all your work
Printer because hard copies are still relevant
New modem and router so your Internet can work as fast as it can
Air con or heater so you’re comfortable year round
Carpet Cleaners to freshen up ‘tired’ carpets and remove marks
Offer clients and staff a space where they can feel comfortable and at home. Take advantage of the small business tax break, ensure you have the latest appliances so people can enjoy themselves with a decent cup of coffee and be entertained whilst they wait.
Top 8 Things to Consider Buying for your Office Kitchen or Waiting Room at Tax Time
TVs to make wait times and break times more enjoyable
Automatic or capsule coffee machines for fuss-free coffee without having to leave the building
A great kettle and a range of teas to keep clients and staff happy
Toasters for those mornings when you can’t fit breakfast in before work
Sandwich press that can be used for everything from toasties to fried halloumi
Microwave to revive leftovers into an exciting lunch
Fridge with enough space for everyone’s lunch and groceries
Dishwasher to eliminate squabbles over the ‘cleaning fairy’
Air purifier to keep the air clean and remove pollution particles
Whether you’re on the road, working from home or in an office space, you want your clients and employees to be able to reach you at all times. You never know where your day will take you, so this tax time why not stock up on a new phone, laptop and more to ensure you’re always prepared.
Top 8 Things to Consider Buying for Working On the Go Devices at Tax Time
Powerful and fast laptop to work from anywhere
Tablets so you can access everything you need on a sleek, portable device
2-in-1 laptops that can transform from laptop to tablet for flexibility
Mobile phones with big screens so you can get more done
A Bluetooth keyboard and mouse for full functionality
Computer bags with lots of pockets to keep everything in the one place
USB sticks and SD cards to transfer large files easily
Portable chargers to keep your phone charged at all times
Allow the focus to be on service with the use of high-powered quality appliances making prep time easier and faster. It’s time to get the products you’ve been eyeing off and make use of the small business tax offset. Top 8 Things to Consider Buying for your Café, Restaurant or Bar at Tax Time
High-powered blenders like Vitamix to make delicious nut-butters, sauces and dips
Stand mixers to help produce a variety of delicious food
An extra sandwich press to alleviate the lunch-time rush
iPads to run the latest POS software
A fast and powerful laptop so you can pay invoices and still keep an eye on service
Refrigerated drawer for convenient bar storage
New modems and routers so your Internet can work as fast as it can
Upgrade your heating and cooling so customers can sit in comfort all year round
Allow your clients to experience luxury and feel truly pampered in your salon with the latest and greatest technology. If you’re planning on upgrading equipment, it’s a good idea to finalise your purchase before the end of financial year to make the most of the small business tax break. Top 8 Things to Consider Buying for your Hair or Beauty Salon at Tax Time
The latest Dyson Supersonic hair dryer
Automatic coffee machine or a Sodastream for café quality refreshments for clients
Powerful, lightweight vacuums to make cleaning quick and easy
Reverse cycle air conditioner to keep clients warm in winter and cool in summer
Air diffusers to freshen the air and create a sense of calm
A tablet to run the latest POS software
Newer, larger washing machine and a dryer so you don’t have to rely on a laundry service
New modems and routers so your internet can work as fast as it can
Create the perfect atmosphere for your shop or gallery with the help of some little luxuries, allowing customers to feel comfortable and welcome in your space. There’s no better time to make these adjustments than now by taking advantage of the small business tax offset. Top 8 Things to Consider Buying for your Gallery or Retail Space at Tax Time
Air purifiers and/or air conditioners for year-round comfort
Smart lights to control brightness from your phone
Lightweight vacuum cleaner to keep the place clean with minimal effort
Tablets or iPads for processing payments
New phone with a great camera for updating social media
Powerful and fast computer to finish your admin as fast as possible
Don’t forget to check out our product buying guides here to help maximise your EOFY tax purchases.
This article has been prepared for informational purposes only and should not be relied on for tax, legal or accounting advice. Please consult with a professional accountant to find out if any of the above products are claimable for your small business.
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