by Jye Smith
Now is a great time to be thinking about new equipment for your business.
As the financial year draws to a close, we find our business clients are reviewing their year that was and planning for the year to come.
Part of this review should be meeting with your trusted business advisor around finalising the FY21 and thinking about where you’d like to take your business in terms of goals, tax planning and budgets for the following year.
With the instant asset write-offs still available for the FY21 year and extending into the FY22 year, you may be thinking about upgrading or adding to your assets.
Options for Business
At Lambourne Partners Finance, we have access to a suite of options to assist you with finance for assets like:
- Motor vehicles
- Trucks and trailers
- Agricultural equipment
- Earthmoving equipment
- Any other worthwhile business assets.
Everyone’s circumstance, time in business and goals are different, as are the ways we might be able to assist you in securing these assets, e.g.:
- Equity release from your home loan, which includes a review of your current arrangements in an ever-changing lending environment
- Chattel mortgage, which is a loan secured by the asset that is being purchased – this can be tailored to suit your cashflow requirements
- Hire purchase agreement, where the lender will buy the asset from the vendor and then sell it on to you over the term of finance – at the end of the finance contract, the lender will transfer the ownership of the asset to you.
While the opportunity for such finance is only limited by the business owner’s imagination, the following case study is an example of how Lambourne Partners Finance can help.
Case Study: Business Equipment Finance
An established business client was needing to replace its key pieces of equipment in the medium-term (i.e. 18-24 months). With the Federal Government’s instant asset write-off incentives, through advice from the Lambourne Partners Advisory team, the added advantage of reducing the 2021 income tax and selling the equipment at market value (higher than scrap value at the end of its useful life) was too-good-an-opportunity not to take advantage of.
So while the business had the cash flow available, Lambourne Partners Finance was able to achieve a finance term and interest rate which was too attractive for the client not to take up.
How We Can Help
If you would like to talk to us about business equipment finance, contact Jye Smith below or on 02 4969 6600 for a complimentary initial discussion.