Whether you are an employee, employer or running your own business, Financial Decisions can assist you with a suitable lease and advise on any tax implications.
Novated Lease – A Novated Lease a three-way agreement between you, your employer and a finance company where you can lease a new or used car. The responsibility for the lease lies with the employee, with the lease payments being made from the employee’s pre-tax income.
Chattel Mortgage – Under a Chattel Mortgage a finance company lends money to the customer to purchase a car or other motor vehicle (chattel) and the customer takes ownership of the vehicle at the time of purchase. The financier then takes a “mortgage” over the vehicle as security for the loan.
Finance Lease – A Finance Lease is a rental agreement where the bank owns the asset (vehicle and/or equipment) and you then lease it for an agreed term and rental amount.
Operating Lease – An Operating Lease (or contract hire) is an easy way to get your business the vehicle you want without the hassle of ownership. Operating Leases have tax incentives and do not result in assets or liabilities being recorded on the lessee’s balance sheet.
