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Commercial Boat Finance & Leasing | Jade Boat Loans

30 Nov Today's
best rate
Finance Boats From
4.49 %
Fixed
With a low
5.25 %
Comparison*
*The Comparison Rate is calculated on a Secured Loan of $40,000 fixed for a term of 5 years, new goods, effective 30/11/2020 and subject to change. WARNING: The Comparison Rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different comparison rate.

Jade Boat Loans is Australia’s leading specialist marine finance broker and provides a full range of commercial finance options for the purchase of boats, vessels and watercraft to be used for business purposes.

  • Chattel Mortgage
  • Boat Lease
  • Commercial Hire Purchase

Deciding which finance product is best suited to both the boat you are purchasing and your business structure, we advise you consult with your accountant. Depending on the accounting method your business implements, your financial objections, balance sheet strategy, treatment of GST and tax deductions and asset depreciation requirements all need to be taken into consideration.

 Commercial marine finance product offer different benefits to business but all feature:

  • Jade’s signature low interest rates
  • Fixed monthly repayments
  • Fixed interest rate for the term of the loan
  • Fixed loan term

Major variances across finance types are:

  • Treatment of GST, on which items GST is charged, if GST is claimed by the borrower or lender
  • Tax deductibility of the different components of the loan: interest, repayments, fees
  • On or off balance sheet item
  • Depreciation
  • Ownership of the boat during the loan term

Chattel Mortgage

  • The most popular commercial marine finance as it suits most businesses implementing a cash accounting method
  • Fixed interest rate
  • Monthly repayments are fixed but not tax deductible, only the interest on the loan is deductible
  • GST on the boat purchase may be claimed on the next BAS. GST is not charged on the interest but is charged on fees and other charges
  • The depreciation on the vessel is accounted as a deduction at the end of financial year
  • Balloon payment may be included and negotiated to amount that suits you

Commercial Hire Purchase

  • For businesses implementing a cash or accruals accounting method
  • Jade’s low interest rate is fixed for the term of the loan
  • Monthly repayments are fixed
  • Terms available from 12 months/1 year to 60 months/5 years
  • Monthly repayments are not tax deductible, only the interest on the loan is deductible
  • GST on the boat purchase may be claimed on the next BAS. GST is not charged on the interest but is charged on fees and other charges
  • GST is not applied to the monthly repayments or the balloon as it is claimed at the time of purchase.
  • Balloon payment may be included and negotiated to amount that suits you

Boat Lease

  • Boat finance Interest rate is fixed for term of the lease
  • Fixed lease term, fixed monthly repayments
  • Borrower pays GST on the repayments and the residual
  • Residual is determined by ATO guidelines and the age of the vessel
  • Repayments appear on balance sheet as an operating expense. The full price/value of the boat/loan does not appear as an asset/liability on company balance sheet

Please refer to the specific webpages in regard to each of these financial products or call Jade Boat Loans to start the finance process.

Speak with a Jade Consultant to discuss a financing solution for your boat purchase. Call 1300 000 003

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