Vehicle & Equipment Finance
There are a number of different ways to finance the purchase of vehicles and equipment for your business including:
- Acquire an asset through a secured loan agreement (also known as a Chattel Mortgage)
- Lease an asset through a rental agreement (also known as an Operating Lease)
Both of these options have different tax, accounting, GST, FBT and cash flow implications.
There are also special tax concessions in place for asset acquisitions, with immediate depreciation on assets up to the price of $20,000 still available until June 30, 2017. On top of that, the criteria for a small business to participate in these concessions has been expanded from $2 million in annual turnover to $10 million from 1st July, 2016.
As your accountants we are committed to saving you money and giving you the most tax effective advice regarding your asset purchases. Through an affiliate finance group we can help you obtain competitive finance quotes from a panel of major lenders for vehicles and equipment. Having all your financial information on hand and understanding your tax situation guarantees fast approval and that the finance structure is appropriate to your circumstances.
In addition, this group can also access fleet pricing on new cars that could save you thousands of dollars. All we need is the precise specifications on the car or light commercial van you are buying and we can obtain the fleet pricing within 48 hours. You can read more about this service by downloading our Vehicle & Equipment Finance Brochure.
If you're a committed and ambitious business owner looking to accelerate your business success we invite you to book a FREE, one hour introductory consultation to discuss your business and finance needs. You'll get practical business, tax, marketing and financial advice designed to help you build your business and grow your wealth.
To book a time,contact us today on (03) 9500 8666 or complete your details in the box at the top of this page.