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Claiming IT expenses on tax

5 IT Expenses You Can Claim On Tax

July 7, 2022

If you have money to spend before the end of the financial year, you could invest your leftover budget into the computer side of your business. By doing so, you will be able to reduce your total tax liability as some of your expenses can be claimed back against your tax.

Interested? If you need to tune up your computers or make new purchases, you very well might be as you will have the opportunity to enhance your business and save yourself a fair amount of money. 

The following are just a few of the things you can spend your remaining budget on and claim back as tax expenses. 

Important note: This is not taxation advice and you should always use an accredited tax agent or if you are completing your own tax assessment then seek advice from an accounting specialist before making claims. Always reference the Australian Taxation Office's guide to claiming work related expenses.

#1: New devices

If your computers are outdated and your other devices are no longer working for you, now might be the time to replace anything that will benefit your business and your employees. 

You could buy some new laptops, for example, or phones or tablets if your employees are constantly on the move. Now might also be the time to buy a new printer if your current printer is way past its prime. 

There may be other devices that will aid your business so before tax season swings around, now could be the time to make some essential purchases. Your employees will be happy if they no longer have to use devices that are outdated or near- unusable and you'll be happy when you see the boost in their productivity that the new devices have caused. 

#2: Subscriptions

You can claim tax back on any of your business subscriptions, including those that are related to the software and applications that are integral to the running of your operations.

If you are currently using the free versions of the programmes you are subscribed to, now might be the time to upgrade to the premier versions that offer you more features. And if your employees have suggested apps and software that can aid them in their work, now is also the time to consider their suggestions and make the purchases that will make their lives so much easier. 

#3: Wifi-related expenses

Tax deductible IT expenses
Internet, mobile and fixed phone related expenses are all tax deductible according to the ATO

There's nothing worse than slow wi-fi, especially if the internet is integral to your business. If you or your employees are forced to wait ages for programmes to load and webpages to open, productivity will grind to a halt! This can be frustrating for you, your employees, and your customers, so finding a way to improve your wifi is a must. 

One way to guarantee faster wifi is to upgrade your network with a wifi system that is more advanced than the one your current business is using. Wi-fi extenders are another good idea as these will give everybody in your business access to faster internet speeds, no matter where they are located in your premises. 

Talk to our team if you would like to know more as we can advise you on the steps you might need to take to improve the wifi in your business. If you do this before the end of the tax year, you can then claim your wifi-related expenses on your annual tax form. 

#4: Computer tune-ups and repairs

As we mentioned, now might be the time to purchase new computers if your current pieces of hardware are no longer performing as they should.

However, replacements aren't always necessary. If your computers are slow, laggy, and prone to irritating pop-ups, it might be that a simple tune-up or a repair could be needed to get them running perfectly again. 

You will instantly see the benefits when your computers have been cared for as your employees will work far more productively. Your productivity will increase too, especially if you have been reliant on a faulty laptop or desktop computer for a long while, as you will no longer have to worry about missing your particular deadlines. 

Technology tune-ups and maintenance can be classed as tax expenses so if you do have any computers or other devices that aren't running well, be sure to hire our team before the end of the financial year. We will make sure your hardware runs at its optimal performance, giving everybody in your business the opportunity to work harder and faster. 

#5: IT support

IT support can be categorised as a business expense so no matter your current needs, be sure to use our services if you would like to reduce your tax liability this financial year. 

We provide a wide range of services that you might be interested including cyber security and anti-virus installations; lost data recovery; office email and cloud support; purpose-built computers and workstations; telephone installations; device repair, and so much more!

If you would like to know more, check our website for further information and get in touch with our expert tech team. We have worked with many businesses over the years and have provided IT solutions and support services that have made an impact on their profits and improved the day-to-day running of their operations. 

Hire an expert if you're struggling

If you're experiencing computer issues or a technical fault that is beyond your ability to correct, reach out to an expert at Netwave that can assist you with the issue. 

Our team have a combined 50 years of experience in the IT and computing industry and we can troubleshoot home or enterprise computing issues to get your business up and running at full speed again as soon as possible. We can also design and implement new IT systems to make your life easier so if there is anything your business needs, let us know and we will provide the solutions you are looking for. Click here to reach out to us or call an expert on 02 6533 1060 if you would like to directly speak to a member of our team. We roam between Forster, Tuncurry, Taree, Hallidays Pt and surrounding areas.

Why Choose Netwave?

We won't be matched on competitive price and service and we truly endeavour to solve your computer and device troubles!

From home laptops to enterprise networks we do it all and we come to you. Put us to the test today!
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