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Equipment finance

All businesses rely to some extent on purchasing, maintaining and operating some form of equipment. It might be little more than a few computers, printers and a suite of office furniture. Or it could be highly specialist plant and machinery, an industrial kitchen, a new fleet of vehicles, a security system or a storage facility complete with a remote-controlled materials handling system.

No matter what your business needs in order to expand and stay ahead of the competition, there’s a finance package to suit every eventuality and TAG Finance has access to them all.

Finance Lease

A finance lease is a form of rental agreement operated by a finance company which allows you to lease equipment for an agreed term and a predetermined regular rental amount. The goods remain the property of the finance company but you benefit from the fact that the rental payments are tax deductible. All the equipment leased must be employed in producing assessable income.  At the end of the lease you can make an offer.

A residual value is set by the finance company to reflect the equipment’s value and depreciation at the end of the rental term at which time you can either extend the lease, return the equipment in good condition, purchase it or trade it back in for an up-to-date replacement.

Contact TAG Finance today to find out how we can help you.

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Hire Purchase

Hire purchase is another form of rental agreement, but differs from a finance lease because, as soon as the last payment is made, ownership of the equipment automatically transfers from the finance company to you.

This form of equipment acquisition can save you money in a number of ways. You can pay a deposit upfront to reduce your monthly payments or pay less monthly and a balloon payment at the end of the term.  You’ll have time to save the balloon payment amount during the hire purchase period. You may be able to claim a tax deduction on depreciation and interest payments.

Contact TAG Finance today to find out how we can help you.

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Chattel Mortgage

A chattel mortgage is essentially a charge over goods yet to be financed. It allows businesses who operate a ‘cash accounting’ system to immediately claim the full input tax credit from GST-incurred expenses.

Contact TAG Finance today to find out how we can help you.

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Novated Lease

Novated leases are used by businesses which want to provide their employees with motor vehicles as part of their salary package.  A Novated lease is a three-way agreement between the employee (the lessee), their employer and the finance company (the lessor).  It creates an agreement between the employee and the lessor which transfers responsibility for the lease rental commitment to the employer during the lessee’s period of employment. Should the employee leave employment, the responsibility for the lease reverts to the employee.

Contact TAG Finance today to find out how we can help you.

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Repayment Calculator

Enter a loan amount you would like to borrow, an interest rate and the term of the loan to get the minimum monthly repayment figure and the amount of principal and interest paid.

About the Repayment Calculator

This loan simulation is not an offer and has no legal effect. It is a rough guide only. All interest rates, repayments and other benefits are based on a personalised simulation and certain assumptions and are approximate only.

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