Benefits of financing your business assets
- Preserve your working capital
You don’t need to use up your cash flow by purchasing equipment upfront. And we all know that quality of your farm or business equipment can make all the difference to your profitability. If you’re looking to buy new vehicles, equipment or technology, we can help you preserve your capital and manage your cash flow.
- Fixed rental payments
Enjoy greater certainty of budgeting and manage your cash flow more effectively with fixed term payment. You can also customise rent payments to match seasonal cash flows.
- Tax benefits
Equipment can be 100% tax deductible where the financed equipment is generating income for you.
As well as this, the Federal government introduced a new facility in its 2015 budget, whereby businesses with an annual turnover under $2 million can claim immediate tax deductions for as many sub-$20,000 purchases as they make up until June 30, 2017. So rather than having to claim those purchases as deductions spread over several years, you may be able to claim the GST component of the purchase price of the equipment in your next Business Activity Statement (BAS).
- Keep up to date with equipment and technology
Short term leasing allows you to change over equipment as the new models are released to the market. Whether it be a tractor, specialist medical equipment or a photocopier – we all know that your profit margins rely on having the most up to date equipment available to generate you income.
- Short term rental options available
Short 12 month rental agreements with option to purchase equipment outright at any time with rent to buy option.
Hire purchase for businesses with the objective of attaining ownership of the leased equipment after the contract has been completed and paid in full.
Equipment finance lease operates similarly to a hire purchase procedure, except the end of the lease contract means either continuing to lease the item/s or choose new ones. Perfect for businesses wishing to keep up with the latest developments in technology, but are not willing to spend capital on constant upgrading.
Chattel mortgage also known as an equipment loan, this is a fixed interest loan that presents a tax advantage (loan repayments do not require simultaneous payment of the GST). This option is secured by a mortgage over the asset.
How does it work?
- The equipment is purchased outright on your behalf.
- You pay a weekly rental to use the equipment.
- At the end of 12 months you have the option to buy, keep renting or hand the equipment back.
- Eligible equipment is any asset that is income generating.
Who is eligible to apply?
Anyone who runs a business with an ABN can apply for funding. The application is easy and takes just a matter of minutes. Either complete the application online or contact us on 03 9028 8135 to complete an application by phone.