Four ways to maximise your business and minimise your tax

Federal government tax break

With the end of the financial year not too far away, you may be considering how best to minimise your tax whilst maximising the investment in your business. It may have been a while since you have investing in your business, and whilst the $30,000 instant tax right-off legislation passed, it’s worth getting in whilst it is still available, here are a four ways worth considering:

  1. Upgrade replacing hardware and outdated software. As noted in our earlier blog articles, Microsoft ends support for Windows 7 in early January 2020. Now is the time to consider the purchase of a new computer and upgrading the operating system and possibly your software as well. Newer hardware and software will improve the reliability of your environment.
  2. Migrate your server to the cloud. Services such Office 365 enables you the ability to take advantage of practically anytime, anywhere access to your data. We see many clients appreciate the difference having the ability to be see your email, calendar and contacts shared between devices and increase their productivity.
  3. Look at training and upskilling. With many technology changes that have occurred over the past few years, it could be worthwhile undertaking some professional development and training. If you or your staff haven’t done so already, it may be the ideal time to ensure they are prepared for the upcoming changes and raise their performance.
  4. Pre-purchase hours for next year. CyberGuru has purchase a block of ten hours to use next financial year. By doing so, you can have these available at your disposal to use on any of our solutions, whether it be consulting, design, support or training.

If you are looking at taking action before the end of financial year, be sure to speak to your accountant first to review your circumstances and see how these deductions will work for you. If now is the time to look to this, we can assist by identifying and reviewing your particularly needs and sourcing the necessary equipment, get you set up and provide ongoing support and regular maintenance going forward. For more information, please review our solutions or contact us today.