After the sudden covid crisis, the businesses are returning on track. The physical stores can now witness the increasing number of customers along with a rise in pathway foot traffic in and outside trading hours. But, post covid conditions and increasing unemployment have increased the business susceptibility towards break-ins, vandalism, and thefts. For which, the business owners are now considering installing or upgrade the CCTV and security solutions, especially when it’s the end of the financial year with the government instant assets writeoff.
Writing off CCTV, Alarm Monitoring & other security solution
If you are a taxpayer, then it is estimated that you will be familiar with the term ‘depreciation’; which means a reduction in the value of an asset over a time frame. Also, especially if you are a business owner then you should be aware of the depreciation of the CCTVs and other such on-premise security devices, which may lead to tax deductions.
Business owners who are using on-premise security solutions, as a part of commercial operations, are eligible to claim back the cost as a deduction at the time of paying tax. It is an essential principle that can be implemented in business for the proper and efficient management of the cash flow.
One can also take advantage of the ‘Instant Asset Write off’, during the up-gradation of these security systems for business. It can be accomplished with the immediate writing off depreciable assets costing less than $150,000. The list of depreciable assets comprises security hardware and equipment, along with security installations for alarm systems, camera systems, and other electronic access control systems.
Besides, if you are a small business owner, then you just need to apply the simplified depreciation rules to claim the instant asset write off, as per the norms formulated by the Australian Taxation Office.
When is the best time to make the purchase?
In order to avail maximum benefits of the write off of an asset within this fiscal year, the taxpayer must make a purchase or install the security IT hardware before 30 June 2021.
The tuning between our security systems and your business
Well, our company offers a high-quality on-premise security system for your business. Enrolling in our services will assist you with an affordable and highly effective and efficient tool against theft, burglary, or vandalism. We offer security services as per the need and requirements of our clients.
Besides, we also deal in providing a cost-effective up-gradation to any existing security device, profitably utilizing your existing infrastructure and allowing you to receive the best possible return from your investment. So, if you are planning to install a security system or upgrade it, then do contact our company for the best quote. All the clients contacting us before June 2021 are liable for a low-rate comprehensive evaluation. So, just hit the contact us to avail of the offer.