Get Statewide Money Finance For Your Business Equipment Needs.
Equipment loans can be a tax effective way of purchasing your business equipment. There are various loan products available and each has different tax benefits that can be claimed as a deduction or business expense.
Tax Benefits of Having an Equipment Loan:
Commercial Hire Purchase You can claim deductions on equipment used for business and on depreciation of equipment. Pay less GST and claim GST for the equipment purchased if you are registered.
Chattel Mortgage You can claim deductions for depreciation of the asset and interest paid on the asset. Make a 100% GST claim as a credit on your BAS statement.
Finance Lease Claim deductions of asset when used for business. We pay GST, so your monthly payments are lower.
Operating or Rental Lease Make 100% deductible claim when equipment is used solely for business. We pay GST, so your monthly payments are lower.
Benefits of Statewide Money Equipment Loans:
No capital outlay No upfront deposit needed, freeing up your cash flow for other business needs.
Tax credits & deductions Providing you’re registered for GST, you can claim tax credits and other deductions of the asset purchased.
Tailored to match your cash flow Repayments are aligned with your cash flow.
Simplicity Loan repayments automatically debited from your nominated account.