A chattel mortgage is a traditional equpment finance loan that allows you to own the equipment from the outset. This means that you may claim the entire GST on the purchase immediately and depreciate the equipment, just as if it were a cash purchase. This is a suitable form of finance for longer life assets that are core to the business - e.g. plant & equipment and vehicles.
The financier places a charge on the equipment so that you have title to the assets from the outset. You then simply depreciate the equipment and expense the interest cost on an annual basis.
The general features of Chattel Mortgage*:
See the other forms of finance:
Fully flexible finance options
Whether you need a Chattel Mortgage, Finance Lease, Rental or Commercial Hire Purchase - we can provide you with all forms of finance.
We can tailor a package to suit your needs when it comes to the type of finance that you require and the terms. We will clearly explain to you the features of each type of finance and what the general benefits are. Please remember to refer to your accountant for taxation advice.Apply now
*This information is not intended to constitute taxation advice and does not take into account your financial cirucmstances. Refer to your accountant for taxation advice.