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Commercial - Leasing/Hire Purchase - Chattel Mortgage
A chattel mortgage is only in recent years becoming more popular. In most respects it is identical to a Corporate Hire Purchase with one key difference. The client is the ‘owner’ of the goods from the outset where the financier takes a mortgage over the goods until the end of the payment schedule.Some benefits of a chattel mortgage inlcude:
- The distinction of ownership allows the taxpayer on the cash method to obtain a full input tax credit for any GST paid relating to the purchase of the goods (ATO rules)
- Flexibility of choice of vehicle (not restricted to white 4 door sedan)
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