Lavish? this is worse than even an election gimmick....12k (less tax) payable after 1 year - No network access in office with your personal laptop. No virus protection. No support for wear and tear of laptop.
It does give you a laptop. A sturdy ThinkPad. Some people prefer using their personal laptops. Perhaps this policy was for that. But nothing will be efficient until they get rid of Citrix.
On Bonus payout - yes this can increase your bonus at innocent staff's expense. so why complain na.