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How the instant asset write-off helps SMBs

Many small businesses are missing out on a key tax perk, with many unaware of the Federal Government’s $6500 instant asset write-off.

A recent MYOB survey of over 1000 Australian businesses found that up to one in three were unaware of the write off, with less than one in five small business surveyed already having used the write off or planning to use it in the future.

Start-ups were found most likely to be in the dark about the write-off, with almost 40 percent surveyed not aware of the benefit.

The increase to the benefit, which was previously only $1000, was first announced as part of the changes to carbon pricing in the 2012 budget, and applies to small businesses with an aggregated annual turnover of up to $2 million.

This means businesses are able to instantly write off the full amount of assets like new office equipment rather than the depreciated amount, and can provide much needed cash flow for small businesses.

The write off helps reduce a company’s tax bill on its profits, which means more money in the bank.

With essential business tools like technology constantly evolving and needing to be updated, taking full advantage of the write off is important for brand new start-ups through to well established small businesses that need to invest in equipment that assists in improving productivity.

The Intel® Ultrabook™ is the ultimate work tool, the key to success in today’s fast-paced business world.

The Ultrabook is available as either a notebook or in a notebook and tablet combination, giving the user the ultimate experience in precision and control. The combination Ultrabook is a PC when you need it, tablet when you want it.  It’s easy to flip, slide, or swivel from one to the other in a flash. The Ultrabook runs on Windows 8 (often with touch) and is equipped with a processor that lets you enjoy movies, photos, and games in your down time at home while running all your business programs at work or on the go.

Security is but one feature that is taken care of, with Intel’s Anti-Theft technology helping protect your identity on popular sites and social networks. The Ultrabook will also work hard to make sure your company data stays safe by letting you disable the device remotely if it is lost or stolen.

Ageing office technology could be costing your business more than you know – crashes, slow boot up time and lost data – they all equate to lost productivity. See which year your technology was most appropriate for at http://businessyear.intel.com and you could win an upgrade to the latest future-ready Intel® gear or even a $10K office upgrade from Harvey Norman, plus an HP Elitebook Revolve 810 Business tablet worth $2199.

Thanks to our partners at Harvey Norman, if you buy any new Intel powered computer you’ll receive $100 worth of accessories for free if you purchase before July 21. To redeem your voucher go to the HN Facebook page.

Staff Writer

Staff Writer

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