It is already nearing the end of financial year and it is an odd time for all of us given the current global circumstances…
While you are probably busy with business reporting and the headache that COVID-19 is causing, it is also a great time to get your home or business security in order.
Why you ask?
Small businesses here in Australia are entitled to a 100% tax deduction on purchases under $30,000, meaning that you have a great deal of flexibility in investing in new asset purchases, HOWEVER with recent government economy stimulation efforts, the tax deduction can be applied to purchases over $150,000.
The government has also expanded the access to this tax deduction to businesses with an annual turnover of up to $500 million (up from $50 million).
What can be claimed?
Businesses with an annual turnover of up to $500 million can claim expenses made on any item that assists in running the business. Assets that are classified under this include, but not limited to tools, software, printers, computers, furniture, etc. Best of all, you can have unlimited purchases under this scheme.
With the threshold raised to $150,000, the new depreciation rules open up a wider range of possibilities for asset investments, including high value items such as cars, high value IT hardware, and of course security installations, including security camera systems, alarm systems, and electronic access control systems.
Timing
This proposal applies from 12 March 2020 until 30 June 2020, for new or second‑hand assets first used or installed ready for use in this timeframe.
Here’s an example:
Business benefits from increased asset threshold:
Owen owns a company, Signal Food Manufacturing Pty Ltd, through which he operates a food production business in the northern suburbs of Victoria. Signal Food Manufacturing Pty Ltd has an aggregated annual turnover of $25 million for the 2019‑20 income year. On 1 May 2020, Owen purchases a new security system including CCTV, an Alarm System and Access Control for $140,000, exclusive of GST, for protection of his business.
Under existing tax arrangements, Signal Food Manufacturing Pty Ltd is not able to immediately deduct assets costing more than $30,000 and instead would depreciate the security system using an effective life of 12 years. Choosing to use the diminishing value method, Signal Food Manufacturing Pty Ltd would claim a tax deduction of $3,899 for the 2019‑20 income year.
Under the new $150,000 instant asset write‑off, Signal Food Manufacturing Pty Ltd would instead claim an immediate deduction of $140,000 for the purchase of the security system in the 2019‑20 income year, $136,101 more than under existing arrangements. At the company tax rate of 27.5 per cent, Owen will pay $37,427.78 less tax in 2019‑20.
This will improve Signal Food Manufacturing Pty Ltd’s cash flow and help his business withstand and recover from the economic impact of the coronavirus.
Conclusion
This new policy should be a boon for businesses Australia-wide and will make it easier to invest in assets which make doing business more efficient and safer for all involved. Electronic security of all kinds is a necessity for so many businesses, especially during the tough times the country is experiencing now, and we’re happy that we can offer high-security solutions which now sit under the increased threshold.
Note: Obviously we’re electronic security specialists, not professional tax advisers. Please ensure you seek professional advice to determine whether you are able to claim a deduction for such purchases and more about this policy as it relates to your circumstances. For more information, please see the Australia Taxation Office’s information on the new policy announcement here
A common query I have often been asked, is whether pet friendly movement sensors actually work. What is it that sparks this debate? When I first began working at Signal Security I had the same problem that most people currently do. That being, leaving my pets outdoors during all weather conditions whilst I was away, so I could activate my alarm system. Upon my learnings I had to share my experience to ensure our four-legged friends get their way. After all, our pets have feelings too, right?
How would you feel being kicked out of your own home when the owner wasn’t there? It’s just a horrible realisation people do so as to not trigger off their alarm system. Well what if I told you we have an easy solution. Don’t let your system get in the way of your pet’s natural lifestyle. Since personally making the change to upgrade my movement sensors to pet friendly ones, my mind is at ease that my pets are safe in the comfort of my home.
I cannot fathom how many times I have helped a client in ensuring they get pet friendly movement detectors with their alarm system. Ultimately, who doesn’t want to have their best friend with them indoors?
I have compiled 4 tips together that you may not know…
1. Protection of home
I have had too many enquiries as to whether pet friendly movement sensors work the same as standard movement detectors. To put this query to bed, due to the increased performance of them, movement sensors have immunity from false alarms. The ability to identify the difference between animal and human is mind-blowing. How? They take into account pets between 10KG – 45KG.
It’s the most accommodating feature to have as part of your home alarm system. The protection of your home will be at its maximum. Why sacrifice the safety and wellbeing of your family or your prized possessions, just because you want to leave your dog inside the house when you leave? Let us take care of that solution as pet friendly movement detectors allow you to knock off two birds with a one stone (so to speak).
2. Insurance
Why risk voiding your insurance by not arming your alarm system? A common response I have come across is: “I can’t activate my alarm system. My dogs stay indoors and trigger false alarms”. I find this to be my calling, whereby I am able to relate to customers, as I was once in the same position.
By not arming your alarm system not only does this compromise your own peace of mind however, it voids your insurance claim. Now that would be the last thing you want to hear if something were to happen. If you want a quick and easy solution, you have it. Pet friendly movement sensors.
3. Reducing pet theft
As painfully unethical pet theft may be, it is happening more than ever in today’s society. Why let your pets fend for themselves whilst the house is unattended? Let them feel the comfort and safety we all feel inside our own home. Allowing your pet indoors whilst away reduces your chances of pet theft and also allows you to possess a clear conscious and enjoy your time away from home.
4. Reducing false alarms
How annoying is it when a spider or insect triggers a false alarm? Feeling helpless or frustrated is the worst feeling. So why not let us ensure that doesn’t happen again? Pet friendly movement detectors are so advanced in their design and function that they scan and cater for insects of all sorts to ensure false alarms aren’t triggered, hence saving you from being in a state of panic. This is the season for creepy crawlers to be out and about and make themselves welcome in your home. Don’t sacrifice your safety by not arming your alarm system when you leave your home. Just request an upgrade – it’s that simple!
I hope the fun facts I have shared from my experiences at Signal Security have also given you a few pointers you may have not known. The benefits of pet friendly movement sensors are astonishing, and to think little information about them is available. Let us take care of ensuring your pets are safe and happy in their home.
Why wouldn’t you want the best solution on the market?
There are approximately 3000 security alarm and fire installation businesses across Australia. Almost half of these have only one employee; 97% have less than twenty employees.
Choosing the right security installer to service your premise isn’t an easy task, so these hints should hopefully assist in narrowing down the field.
Ensure you engage with a security company that is licensed by your state’s police authority and is an active member of the Australian Security Industry Association Limited (ASIAL).
The Victoria Police and ASIAL provide protection for consumers by ensuring that security installers and specialists who are licensed by their respective organisations meet stringent police checks and technical competencies. Some states, e.g. Victoria, have a public register where you are able to search for the name of the security installer or specialist that you speaking with to verify their licence. Always ask to see the consultant/installer’s security licence before letting them into your premise. Note: An electrician is not a security technician, so be careful of those who claim to be able to assist you.
Be wary of companies that cannot provide a written quotation and are reluctant to provide equipment brand names and model numbers.
Transparency is the key to ensuring that you know that you’re receiving what you’re expecting. If things go wrong, you need to be assured that you are able to obtain documentation to prove specifically what has been agreed upon. It’s very easy for companies to put in ‘ifs’, ‘maybes’, or extra ‘conditions’ after you’ve agreed to go ahead.
Ensure you use quality brands that are well supported in Australia. And try to avoid no-name brands with lack long term warranties and quality assurance.
Look to use a company that has a higher skilled network of technicians, rather than those that use subcontractors who are chosen only on their price and availability.
When making a significant investment, you should be looking at a company which is able to provide you with a high quality of installation. A company that uses a strong network of technicians is better able to maintain the quality of the installation process, guarantee competence in whatever brand is being installed, creating system documentation, and providing training on how to use the system, as well as the small but important things such as cleanliness and friendliness.
Poor quality contractors being paid per installation tend to try and get the job done as quickly as possible using minimal, lower quality sundries (e.g. cabling, brackets, etc.), cutting corners and compromising the overall quality of installation. Where there is no strong relationship, contractors being paid for longer installations by the hour will unnecessarily extend the length of time required. This wastes not only your valuable time, but money as well, as the risks of the job running overtime are factored in and passed on in your original quote.
Warranties are only as good as the company offering them.
Spend time to research any company you invite into your premise. Check the address of the company/business that you’re researching. Is it an office or is it someone’s home?
Remember almost 97% of security businesses in Australia employ less than twenty employees; half of these businesses have only one employee. Be cautious of one-man operators that may be here today, gone tomorrow. A company that is established and managing ongoing business relationships with large companies is a very good indicator of being able to support you for the lifetime of your investment.
These days, it’s relatively easy for very small businesses to set up a pretty website or post fake reviews to make themselves look larger than they actually are, so be cautious. If you can’t find websites, phone listings, independent reviews, or case studies you’re probably better off looking elsewhere.
Conclusion: Picking the Right Security Installer
Always make sure you’re using a well established company when approaching the installation of security equipment to your premise. Don’t be afraid to ask the installers that you contact, if there’s anything that you’re unclear about in regard to their accreditation, product models, technicians, and how established their business is.
It may seem like a little extra work, but a bit more research at the start can save you a lot of hassle down the track.
Want to speak with a Signal Security team member? Contact us today.
In the past, high costs and complex installation processes have prevented CCTV from being within reach of the average Australian businesses. Recently, improvements in technology and a greater worldwide demand have made a place for video surveillance systems in the retail market, as they become an affordable and effective tool for business owners to track efficiency and staff.
Management benefits of CCTV:
Continuous record of events:
Insurance:
CCTV security can be a single camera and monitor, or as complex as hundreds of cameras and digital recorders with multiple operators. When choosing your system, high-definition, anti-vandal and weather resistant cameras are all available.
If you’d like to discuss how Signal Security’s CCTV systems can better protect your small business, call our team of experts today on 1300 73 83 93 to arrange a customised solution.
In the past, high costs and complex installation processes have prevented CCTV from being within reach of the average Australian businesses. Recently, improvements in technology and a greater worldwide demand have made a place for video surveillance systems in the retail market, as they become an affordable and effective tool for business owners to track efficiency and staff.
Management benefits of CCTV:
Continuous record of events:
Insurance:
CCTV security can be a single camera and monitor, or as complex as hundreds of cameras and digital recorders with multiple operators. When choosing your system, high-definition, anti-vandal and weather resistant cameras are all available.
If you’d like to discuss how Signal Security’s CCTV systems can better protect your small business, call our team of experts today on 1300 73 83 93 to arrange a customised solution.
Video Surveillance
Melbourne VIC • B2C • Retail
Dymocks Booksellers is large chain of retail bookstores throughout Australia. With a focus on providing an exceptional customer experience, Dymocks prides itself on its large range of books and related gift products.
At their flagship Collins Street store, their previously installed analogue video surveillance system was showing its age. The system was having issues picking up on the finer details throughout the large format store. Identifying information such as facial features and fine details were not being picked up, and staff were noticing an increase in shrinkage in recent months.
To combat these issues, the store managers had decided to replace the existing camera system with high definition cameras. After spending a number of months contacting a range of security installers, they were unable to find a solution. This was because they were unable to provide a solution to Dymocks without a very costly rewiring of the entire security system, due to the type of cable used in analogue camera systems which is different from the cable used in high definition digital IP camera systems. Their fallback solutions were to simply upgrade the older analogue cameras with newer analogue cameras, which would not have provided management with the appropriate level of video quality required.
When contacted by Dymocks, Justin, their licensed retail security specialist from Signal Security performed a site assessment which confirmed that there were going to be significant restrictions in cabling access. As an alternative to a traditional digital surveillance system, Justin was able to design a solution which involved attaching converters to the existing analogue camera cabling. These converters would then allow for high definition cameras to be used on the existing cabling, with no loss in quality when compared to a traditional digital solution.
In addition to the converters, Signal Security were able to provide an enterprise level system that meant that the number of cameras weren’t constrained to the number of recording devices. Instead the option was now available to add cameras through the addition of extra camera licenses to the existing system, without the requirement for extra recording units. Alongside increased capacity, this solution will be more robust in the long-term and will offer additional built-in features including customer counts, heat mapping, missing object detection and obscured camera detection. The final solution incorporated 22 cameras, two of which were Samsung pan-tilt-zoom cameras with 43x zoom, controlled via a joystick.
With the increased number of cameras, the store managers are now able to view the entire store and pan, tilt and zoom on different areas when required. It also allows staff to keep an extra eye on areas of the store using iPads that have access to the surveillance footage, ideal for when staff are away from the front desk.
Upon completion, Dymocks Booksellers now have a fully capable, up-to-date camera system which is able to keep up with the rigour of a day’s retail trading at a fraction of the investment of a full system replacement.
