Commercial Hire Purchase (also known as Asset Purchase or “CHP”) is similar to leasing, except the customer claims the allowable depreciation on the equipment plus interest as a tax deduction, as opposed to claiming the actual lease payments, as with a finance lease. The choice between the two will depend on which option maximises the company’s tax deduction. This in turn will depend on the term and the depreciation rate allowable on the equipment.
Payment Structure
The customer can structure the payments so that nothing is owed at the end of the term or a small “balloon” payment (like a “residual” in a finance lease) can be used to offset and reduce monthly payments.
Advantages
• Unlike a finance lease, no restrictions apply to term structures.
• Tax ownership lies with lessee – interest expense and depreciation are claimed.
Disadvantages
• For those on the “cash” method of accounting, GST is claimed and amortised over the duration of the loan period.
• Amount financed inclusive of GST – interest expense is therefore higher.
Equipment Finance Broking Firm
Established in 1990, Melbourne Finance Broking is regarded as one of the most progressive equipment finance broking firms in Australia. With over 40 staff around the country and realising enormous finance volumes (commanding significant buying power), the broking house deals with over 30 of Australia’s banks and lending institutions, including some with exclusive agency.
Heavy Equipment Financing
Each broker or broking team within Melbourne Finance runs their own business specialty. The corporate entity, Heavy Equipment Finance Australia (HEFA), was introduced by one of the teams in 2005 to more accurately signify their heavy equipment financing specialty, as well as better reflect their interstate expansion.
The HEFA team is unsurpassed in its experience and dedication to servicing the industries utilising heavy machinery, including earthmoving, construction, road making, mining, demolition, forestry and agriculture. If you want more information on HEFA and would like to check out their range of products and deals, you can visit them at www.hefa.com.au
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Help answer the question about commercial construction
Commercial Construction ?, esp. metal framing and all drywall. Anyone know where to get 'Free' Job leads in AZ?I am living in Tucson, AZ and am still just starting my business. I am a contractor and I do only commercial construction, for the most part, I bid on the metal framing and the drywall. Thats it, nothing else.
Question I have for you folks is: Does anyone know where I can advertise my business (I already know about The Blue Book) for FREE?, either nationwide for a larger company or a local Tucson, AZ company. Please let me know if anybody knows of anywhere. It would really help me out.
About Author
Paul Jennings -
About the Author:
Paul Jennings works with one of the largest firms dealing in finance for heavy machineries in Australia. In his free time, he also writes informative articles about this specialised field.
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1. The ten percent down payment would be 764.43 (you round up to 43 cents not 42 because the original change in the total was .25 cents) so the amount financed would be 6879.82. the installment price would be the 365.33
2. we cant answer that becuase you did not include table 9-1
3. we can't answer that either because you do not tell us anywhere in this problem what the interest amount is or how to calculate it
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