Are Security Cameras Tax Deductible in New Zealand?

As New Zealand faces an alarming increase in crime rates, the importance of installing security cameras and CCTV surveillance systems in place for businesses has never been more crucial. Security systems play a vital role in protecting your premises, employees and customers from the growing threat of criminal activities. Alongside the security benefits, understanding the tax implications of such an investment is beneficial in making an informed decision.

Increasing Crime in New Zealand

Recent statistics highlight a troubling rise in commercial crime across New Zealand. Auckland, in particular, has emerged as a hotspot, accounting for a significant portion of these incidents. According to a report by Stuff, 37% of commercial crimes in the country occur in Auckland with Waikato being the second highest with 18% of crimes occurring in the region. This spike in criminal activities, especially aggravated robberies and ram raid style robberies, has underscored the need for robust security measures for businesses.

According to Retail NZ, crime is a significant issue for retailers, with shoplifting, theft, and burglary being common occurrences. Retail crime has far-reaching impacts, not just in terms of financial loss but also in affecting the sense of security among business owners and their staff. The New Zealand Police have also emphasised the importance of crime prevention, offering various resources and support through their Retail Crime Prevention Hub. They provide practical advice and highlight the importance of adopting security measures such as installing CCTV cameras to deter criminal activity.

Protecting Your Business

Security cameras play a crucial role in deterring potential criminals and providing evidence in the event of a crime. They not only help protect your physical assets but also ensure the safety of your employees, fostering a secure work environment. By proactively investing in security systems, businesses can mitigate risks and potentially lower insurance premiums.

Tax Deductibility of Security Cameras

One of the key benefits of installing security cameras is their tax-deductible status. In New Zealand, security cameras are considered a business expense, making them eligible for tax deductions. This means that businesses can claim the cost of purchasing and installing security cameras as a deduction against their taxable income. The tax deductibility of security cameras can significantly reduce the overall cost of enhancing your business’s security infrastructure, making it a financially viable option.

Types of Security Cameras

When choosing security cameras, it’s essential to understand the different types available to select the best option for your business needs:

  • Dome Cameras: Known for their discreet design, dome cameras are ideal for indoor use. Their dome-shaped housing makes it difficult for onlookers to determine the camera’s direction, providing an element of surprise.
  • Bullet Cameras: These cameras are easily recognisable due to their long, cylindrical shape. They are typically used for outdoor surveillance and can capture images over long distances.
  • PTZ Cameras: Pan-Tilt-Zoom (PTZ) cameras offer versatility by allowing operators to remotely control the camera’s movement and zoom. They are suitable for monitoring large areas.
  • IP Cameras: Internet Protocol (IP) cameras capture and transmit data over a network, providing high-resolution images and remote access capabilities. They are ideal for businesses seeking advanced surveillance features.
  • Wireless Cameras: These cameras offer flexibility in installation due to the absence of cables. They are perfect for areas where wiring is challenging.
  • Thermal Cameras: Capable of detecting heat, thermal cameras are useful for monitoring in low-light conditions or through obstacles like smoke and fog.

As New Zealand continues to grapple with rising crime rates, investing in security cameras becomes essential for business owners. Not only do these cameras enhance the safety of your premises and employees, but their tax-deductible status also makes them a cost-effective security solution.

Do you need a security camera for your New Zealand business? Contact Watchu Security, one of NZ’s leading independent security systems integrators and consultants, delivering end-to-end security and surveillance solutions from systems design to installation and support.