Why IT Equipment Finance Makes Sense for Your Taree Business
Running a business in Taree means staying connected and productive. Whether you're managing a retail store, professional services firm, or manufacturing operation, having the right computer equipment and technology is no longer optional - it's essential.
But here's the challenge: buying new equipment outright can seriously impact your cashflow. When you're looking at thousands of dollars for new computers, servers, software systems, or printing equipment, paying cash upfront isn't always practical or financially smart.
That's where IT equipment finance comes in. It allows you to access the latest technology without tying up your working capital, all while enjoying tax benefits that make the arrangement even more attractive.
Understanding Commercial Equipment Finance Options
When you're looking to upgrade equipment or upgrade technology for your business, you've got several finance options available:
Chattel Mortgage
This is one of the most popular choices for businesses purchasing office equipment and computer equipment. With a chattel mortgage, you own the asset from day one, but it serves as collateral for the loan. You benefit from:
- Tax deductible interest payments
- Ability to claim GST credits on the purchase price
- Fixed monthly repayments that help you manage cashflow
- Tax effective equipment depreciation claims
Equipment Leasing
With equipment leasing, you're essentially renting the equipment over the life of the lease. This option works well when you want to regularly upgrade technology without the commitment of ownership. Industrial equipment leasing is particularly useful for businesses that need to stay current with rapidly changing technology.
Hire Purchase
Similar to a chattel mortgage, but with hire purchase, you don't technically own the asset until you make the final payment. It's still a cashflow friendly option with fixed monthly repayments, and the interest rate is typically competitive.
Ready to get started?
Book a chat with a Finance & Mortgage Broker at Get Approved today.
What IT Equipment Can You Finance?
The scope of what you can finance is broader than many Taree business owners realise. When we talk about IT equipment finance, we're not just referring to computers. You can access Equipment Finance options from banks and lenders across Australia for:
- Desktop computers and laptops
- Servers and networking equipment
- Software packages and licencing
- Point of sale systems
- Security systems and CCTV
- Printing equipment finance for multi-function printers and scanners
- Audio-visual equipment for conference rooms
- Telephony systems
- Data storage solutions
- Cloud infrastructure setup
Beyond IT: Plant and Equipment Finance
While this article focuses on IT equipment, it's worth knowing that similar financing arrangements apply to virtually any business asset. At Get Approved, we can help you with equipment finance for:
- Work vehicles including trucks and trailers
- Manufacturing equipment and factory machinery
- Agricultural equipment and farming equipment like tractors, graders, excavators
- Heavy machinery including cranes, dozers, and forklifts
- Automation equipment and robotics financing
- Material handling equipment
- Food processing equipment
- Solar equipment finance for reducing energy costs
- Specialised machinery specific to your industry
The Tax Benefits You Need to Know
One of the biggest advantages of financing rather than buying equipment with cash is the tax treatment. When you use commercial equipment finance:
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Interest Payments Are Tax Deductible: The interest portion of your fixed monthly repayments can typically be claimed as a business expense
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Depreciation Claims: You can claim depreciation on the equipment as part of your plant and equipment finance arrangements
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Immediate Asset Write-Off: Depending on current tax legislation and the loan amount, your business might qualify for instant asset write-offs
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GST Credits: With certain finance structures, you can claim back the GST on the purchase price
These benefits make equipment finance not just a cashflow solution, but a tax effective equipment acquisition strategy.
How Much Can You Borrow?
The loan amount available depends on several factors:
- Your business's financial position and trading history
- The type of equipment you're purchasing
- The value of the equipment (which serves as collateral)
- Your existing business debts and commitments
Most lenders will finance anywhere from $5,000 to several million dollars for commercial equipment. The interest rate you receive will depend on these factors plus the lender's assessment of risk.
Making Equipment Finance Work for Your Business Needs
The key to successful equipment financing is matching the finance structure to your business needs. Ask yourself:
- Do I need to own this equipment, or would leasing make more sense?
- How quickly will this technology become outdated?
- What impact will the repayments have on my cashflow?
- Am I buying new equipment or upgrading existing equipment?
- Can I use the tax benefits effectively?
For Taree businesses, working with a local broker who understands the regional economy and business landscape can make a real difference. We know the industries that drive the Manning Valley economy and can structure finance accordingly.
Why Choose Get Approved for Your IT Equipment Finance
As a mortgage broker in Taree, NSW, Get Approved doesn't just handle home loans. We specialise in helping local businesses access business loans and asset finance solutions that work.
When you work with us, you get:
- Access to multiple lenders and banks across Australia
- Expertise in structuring deals that maximise tax benefits
- Local knowledge of Taree's business community
- Support throughout the application process
- Ongoing service as your business grows
We understand that every business is different. Whether you're a small startup needing your first set of computers or an established enterprise investing in automation equipment, we'll find finance options that align with your circumstances.
Ready to Buy Equipment Without Cash Worries?
Upgrading your IT infrastructure doesn't have to mean depleting your business savings. With the right finance structure, you can access the latest technology, maintain healthy cashflow, and enjoy tax benefits all at the same time.
Whether you need computer equipment, printing equipment, or any other office equipment, the team at Get Approved can help you explore your options and find a solution that works for your Taree business.
Call one of our team or book an appointment at a time that works for you. Let's discuss how equipment finance can help your business improve efficiency and stay competitive without the cashflow stress.
