Please note: This is a summary of an AELA Advice only and is intended for general information purposes only, and should not be construed as professional advice. Readers should seek professional advice from their accountants.

Eligibility – 30% Investment Allowance:

1. Purchases of new and used, tangible depreciating assets used in carrying on a business.

2. Small businesses turning over $2 m per year or less – minimum cost price excl GST is $1,000.

3. Other businesses turning over $2 m per year or more – minimum cost price excl GST is $10,000.

4. Asset to be acquired between 13^th December 2008 and 30^th June 2009 and installed by 30^th June 2010.

5. Allowance is provided as an additional tax deduction. Clients claim 130% of the cost price with an outright 30% deduction claimable in the income year in which the asset is installed ready for use, and the remaining 100% over the effective life of the asset. Read more »

Up to 160 jobs will be lost after a Ford Credit Australia announced it is winding down part of its Australian operation.

The decision, which comes as the Australian car industry faces its worst sales performance in 30 years, means private car buyers will no longer be able to seek finance from the company, Fairfax reported on Thursday.

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Prime Minister Kevin Rudd says $4.7 billion will be spent across a range of transport, rail, roads and education infrastructure as part of the Government’s measures to keep growth and productivity strong as the global financial crisis continues to bite.

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A Commercial Hire Purchase is generally suitable for businesses using the “accruals” method of accounting for GST, or for individuals who used their motor vehicle for business related purposes. Under the “accruals” method, the GST component of the purchase price of the motor vehicle (or other asset) can be claimed back on the next BAS, rather than claiming the GST over the term of the finance contract.

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A hire purchase arrangement is an agreement to purchase vehicles, plant or equipment subject to payment terms. During the term of the agreement, the Bank or Finance Provider owns the vehicle, plant or equipment. Ownership is automatically transferred to you when you make the final payment. You also have the option to purchase the equipment at any time during the term of the agreement.

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What is a novated lease? and how does a novated lease work?

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I’ve been advertising on carshowroom.com.au for the months of October, November and December. Im sponsoring the car finance section.

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What is an operating lease?

For those that use their car for business purposes the majority of the time, an operating lease may be the best leasing option. In an operating lease, the person leasing the vehicle makes their monthly lease payments, and, at the end of their lease terms, releases the vehicle back to the leasing company.

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A secured car loan is a loan that is backed by an asset, most often the car that you are purchasing. A secured loan is often the best choice when borrowing money for a car purchase. Because the car secures the loan, the borrower is able to arrange for a lower interest rate than in an unsecured loan. This lower interest rate will save you a great deal of money over the life of the loan.

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When shopping for a car, getting your loan pre approved is a way to make certain that you can afford the vehicle that you are looking at and avoiding disappointment later if you cannot get approved for a loan.

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This novated lease article was written by a ghost writter for me, its not bad but I havent published this novated lease article on my website.

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This article about a Finance Lease was written by a ghost writer for my website. I haven’t published this on my website platinumcarloans.com.au.

Finance Lease

Choosing an automotive financing option for your business can be difficult, as there are a number of options available to you. Though there are several vehicle purchase options available to you and your business, some of them may require you maintaining a shared ownership of your new fleet vehicles until the loan is paid off completely or may include other unfavorable terms. If you would prefer a much more straightforward financing option, you may want to consider taking out a standard finance lease. Read more »

Heres another article that the Ghost Writer wrote for me. I rate this about a 6/10 for a Commercial Hire Purchase article. I havent used this on my website.

Commercial Hire Purchase

Whether you’re wanting to purchase a single vehicle for your business or are wanting to expand your fleet, finding the best way to pay for your vehicle is important. While there are a number of ways to finance the purchase of a vehicle, one option for businesses that is often overlooked is to make a commercial hire purchase. In addition to making sure that you are able to afford the vehicle that you want, there are a number of advantages specific to commercial hire purchases that can help to make them the right option for your business.
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If anyone is interested out there, I had a Ghost Writer write this article on a Chattel Mortgage. I would give it a 6/10.

Chattel Mortgage

Purchasing a business vehicle presents you with a number of different options, with each having its own advantages and disadvantages. One form of business vehicle purchase that is sometimes overlooked is the chattel mortgage, which allows you to purchase your vehicle or other business equipment with a loan from the vehicle provider. There are a number of advantages to using a chattel mortgage over some other types of available financing, and for some business owners it may be the best option given their financial and vehicular needs. To find out whether a chattel mortgage is right for you and your business, the following information will show you all that you need to know.
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Payout your car finance early, the rule of 78 works for you. Payout your car finance later in the term, does it really make a difference using the rule of 78?

It is common for luxury car financiers in Australia to use the outdated “Rule of 78″ calculation when determining early payout amounts for clients. This method, discouraged by the ATO, penalises most early payout customers as it does not account for interest on an actuarial basis.
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KEVIN Rudd will forge ahead with a multi-billion-dollar car industry assistance package today, amid fears of further job losses and a downturn in the market, but he will warn manufacturers not to expect a blank cheque.

Focusing on fuel-efficient cars, the new stimulus package is expected to go beyond the $2.5 billion in extra funding previously flagged, significantly boosting the Government’s proposed green car innovation fund.

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The Mazda2 Neo is Mazda’s entry-level car, the lowest model the Japanese company offers. Despite its lowly status, the Neo is a sporty and stylish compact hatch. Mazda stepped away from the tall and boxy look for the Neo – opting instead for a sleeker, lower to the ground look.

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Being part of the Platinum Direct Finance group of companies, Platinum Car Loans will soon have access to the only bank car finance product with no payout penalties.

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It might be more convenient or easier to get car finance from the car dealer, but it may not be the best deal! Banks, credit unions and other financial institutions usually will be cheaper and more flexible.

If you sign anything at the dealership, it will probably be a contract of sale.

You may also sign a car loan application or car loan contract.

A contract is legally enforceable, so make sure you read it carefully before signing. Don’t sign unless you understand what you are signing and you’re certain that you’ll be buying the car. If in doubt, always seek further advice.

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What should I do? just a standard novated lease or a fully maintained novated lease?

There are many answers to this question which depends on your individual situation. To answer a question with a question; do you have a lot of business use for your vehicle?

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Commercial Hire Purchase is also referred to as a Hire Purchase, CHP, HP, Term Purchase, Asset Purchase, Corporate Hire Purchase.

This product is suitable for those customers who prefer the benefits of a term purchase contract, with or without a balloon payment and want to own the asset at the end of the term.

Both new and used vehicles can be financed with a Commercial Hire Purchase.
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