A prestige Lease is a tax effective way for business to preserve cash flow.
A Prestige Lease is a tax-efficient tool to satisfy business needs without tying up capital.
Prestige Lease payments are made from pre tax income, not after tax profits, enabling a business to preserve cash flow and utilise the capital elsewhere in the business.
Where the vehicle is used for income producing purposes, a tax deduction may be claimed by the lessee.
Where the amount financed is below the Depreciation Limit ($57,009), a lessee may claim the monthly repayment as a deduction. Above the Depreciation Limit, interest charges on the contract and depreciation up to the value of the Depreciation Limit are deductible.
Repayments are based on the amount financed less the residual value at the end of the lease. Flexible contract terms from 24 to 60 months are available, and as the residual value can be varied according to the contract term, repayments can be tailored to suit your budget. In conjunction with a ‘Deed of Novation’ a Prestige Lease is an ideal way to salary package a vehicle.
A Prestige Lease can also include your 'on-road charges' and Comprehensive Insurance premium.
Generally, the vehicle itself is the only security required but in some cases, where the lessee is a company, we may require a guarantee from the directors or other appropriate persons. For your convenience, we can organise computer direct debiting of your monthly payment from your nominated account. But all such details can be sorted out in a brief chat with the Business Manager at your preferred dealer.