Vehicle & Equipment Finance
There are a number of different ways to finance the purchase of vehicles and equipment for your business or farm 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 and FBT 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, 2018. 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 our network of finance brokers we can help you obtain competitive finance quotes for the purchase of your 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, through our network you may be able to access fleet pricing on new cars that could save you thousands of dollars.
Here at BHT Partners we primarily work with committed and ambitious business owners who are prepared to work hard but they also want to work smarter. Contact us today and let's get to work ON your business so it is more profitable, valuable and saleable.
We also invite you to book a FREE, one hour introductory consultation to discuss your business needs. You can expect practical business, tax and financial advice designed to help you accelerate your business success. To book a time, call us today on (03) 9431 3000 or complete your details in the box at the top of this page.