FAQ: What alternative finance options to Commercial Hire Purchase should be considered after 1 July 2012?
What alternative finance options to Commercial Hire Purchase should be considered after 1 July 2012?
Due to recent changes to the GST treatment of Commercial Hire Purchases, individual employees eligible for a car allowance may find the Commercial Hire Purchase (CHP) agreement to be a more expensive finance option after 1 July 2012. There are a number of other cost-effective options which can be considered by employees, including a Chattel Mortgage, Novated Lease or Car Loan (Consumer Loan).
Companies, partnerships and sole traders who have previously used the CHP as a finance option may wish to consider other finance options like the Chattel Mortgage or the Finance Lease (Car Lease).
Stratton Finance understands that every business and individual is different. Our expert finance consultants take the time to look at your individual circumstances and needs in order to determine the most suitable solution.
If you have any questions, or if you would like some more information regarding the July 1 2012 changes to the Commercial Hire Purchase Agreement, please feel free to contact us on 1300 STRATTON (787 288) or fill out an online enquiry form and one of our finance consultants will be in touch shortly.
Please note that this information is of a general nature only. You should consult an accountant to obtain information specific to your situation.
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What changes were made to the GST treatment of Commercial Hire Purchase (CHP) on 1 July 2012?
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