Page 2 of 3 FirstFirst 123 LastLast
Results 16 to 30 of 34

Thread: Lease vs Cash vs Hire Purchase

  1. #16
    Join Date
    27th March 2006 - 15:25
    Bike
    sea bass bandit250
    Location
    Kerikeri
    Posts
    222
    Yep, I've just been on here for about an hour and am now trying to remember what I was doing before??????
    Boring indeed...... screw that I'm off to lunch and dreaming about bikes.

  2. #17
    Join Date
    4th March 2004 - 20:17
    Bike
    2007 Suzuki GSX-R600
    Location
    The Bazza Cave, Naenae
    Posts
    1,405
    very timely post Macstar, thanks for that!

  3. #18
    Join Date
    4th January 2005 - 18:50
    Bike
    Massey ferguson 7495 dyna-vt
    Location
    Hawkes Bay
    Posts
    6,909
    Quote Originally Posted by Marknz View Post
    very timely post Macstar, thanks for that!
    If your interested in leasing a bike Mark...flick us a PM sometime and I'l flick back my ph number
    Quote Originally Posted by Drew View Post
    Given the short comings of my riding style, it doesn't matter what I'm riding till I've got my shit in one sock.

  4. #19
    Join Date
    3rd June 2005 - 23:06
    Bike
    nun
    Location
    In cloud cookoo land
    Posts
    4,834
    not to detract from a very informative post..don't forget FBT


    :slap:

  5. #20
    Join Date
    4th December 2006 - 13:45
    Bike
    2008 KTM SuperDuke R
    Location
    Brisbane, Queensland
    Posts
    1,010
    Quote Originally Posted by boomer View Post
    not to detract from a very informative post..don't forget FBT
    Boomer's right (damn, it was hard saying that).

    Not sure what the rules are on leased vehicles, but on company-owned vehicles for which you're claiming 100% usage, the company has to pay 64% of the depreciable value of the vehicle in Finge Benefit tax. If memory serves, you can depreciate 40% of a vehicle per year, so on an SV1000S at $12500, you'd depreciate $5000 the first year, so your FBT liability would be $3200.

    As I said, I've no idea what the rules are for leased vehicles, so I assume there's an equivalent.

  6. #21
    Join Date
    27th March 2006 - 15:25
    Bike
    sea bass bandit250
    Location
    Kerikeri
    Posts
    222

    fbt

    Hold on, FBT rates are dependant on the salary an employee receives from the company. 64% is only used if that salary is over 60k (including value of the benefit).
    I have some clients who don't earn much salary at all from their company (they don't work much I guess) and FBT works out VERY cheap and so worth it.

    If anyone is thinking about buying a vehicle in a company make sure you talk to your accountant about FBT to get the full explanation.

  7. #22
    Join Date
    4th January 2005 - 18:50
    Bike
    Massey ferguson 7495 dyna-vt
    Location
    Hawkes Bay
    Posts
    6,909
    Quote Originally Posted by Sanx View Post
    Boomer's right (damn, it was hard saying that).

    Not sure what the rules are on leased vehicles, but on company-owned vehicles for which you're claiming 100% usage, the company has to pay 64% of the depreciable value of the vehicle in Finge Benefit tax. If memory serves, you can depreciate 40% of a vehicle per year, so on an SV1000S at $12500, you'd depreciate $5000 the first year, so your FBT liability would be $3200.

    As I said, I've no idea what the rules are for leased vehicles, so I assume there's an equivalent.
    Quote Originally Posted by dnos View Post
    Hold on, FBT rates are dependant on the salary an employee receives from the company. 64% is only used if that salary is over 60k (including value of the benefit).
    I have some clients who don't earn much salary at all from their company (they don't work much I guess) and FBT works out VERY cheap and so worth it.

    If anyone is thinking about buying a vehicle in a company make sure you talk to your accountant about FBT to get the full explanation.
    The rate is based purly off % of usage that is personal usage by the employee or sole trader or what ever...so...employee does 40km pw in said vehicle... km rate is say 50c... thats $20 of fringe benift...employee or what ever pays taxable value on the $20
    Quote Originally Posted by Drew View Post
    Given the short comings of my riding style, it doesn't matter what I'm riding till I've got my shit in one sock.

  8. #23
    Join Date
    3rd June 2005 - 23:06
    Bike
    nun
    Location
    In cloud cookoo land
    Posts
    4,834
    Quote Originally Posted by cowpoos View Post
    The rate is based purly off % of usage that is personal usage by the employee or sole trader or what ever...so...employee does 40km pw in said vehicle... km rate is say 50c... thats $20 of fringe benift...employee or what ever pays taxable value on the $20
    hey.. theres swings and round abouts for everything.. i reckon the figures add up its just a change in mind set for most.

    and if you & ya accountant get creative with ya figures you can make it work for you !! BUT be warned.. speak to an accountant to get what it means for you.. as none of the above are accountants .. suspension experts perhaps.. but not accountants


    :slap:

  9. #24
    Join Date
    4th May 2006 - 21:21
    Bike
    1998 Ducati SuperSport 900
    Location
    Central Otago
    Posts
    4,912
    Yeah,

    'poos tried to lease me a bike - trouble is I've only got about $40pw to spend - which only allows me to borrow enough money to buy a 10 year old bike

    I hate all you rich c*nts

  10. #25
    Join Date
    7th March 2007 - 15:11
    Bike
    GSXR1000K7
    Location
    nationwide
    Posts
    93
    Quote Originally Posted by boomer View Post
    hey.. theres swings and round abouts for everything.. i reckon the figures add up its just a change in mind set for most.
    Thats the biggest part of it Duncan!! but its also not for everyone or everyone's situation...but no deposit and no hassles has been more than tempting to a number of people already!
    Motorcycle finance and leasing
    ph 0275677667
    opperating lease on a motard from $83.10pw

  11. #26
    Join Date
    4th December 2008 - 15:19
    Bike
    2007 Suzuki Boulevard C50T
    Location
    Auckland
    Posts
    15
    I paid cash for my bike, same as I do with all the cars I`ve owned. If I can`t afford to pay cash for something, I either go without or wait until I`ve saved up for it. Don`t know if it`s a better option that leasing, financially speaking, but I like the peace of mind you feel when there`s no payment book attached to the owner`s manual.
    Repeat after me.... it`s only a movie.

  12. #27
    Join Date
    5th December 2008 - 15:00
    Bike
    2008 Kawasaki z1000
    Location
    Mount Maunganui
    Posts
    194
    Hmm - i am looking at this at the moment. I have a small business. I currently lease a car for that business, which is 100% business car. The misses and I own another car privately - and we happen to live in the same building as my business is in (seperate premises).

    Becuase of the fact that dont use my company car to get to and from work, and i dont use it for personal use, we dont pay any FBT on that car.

    Now: I want a new bike, CustomFleet are quite happy for me to lease a bike thru them, I intend to use the bike for business use. But the problem is that i will really have to pay FBT on this correct? I mean i cant say that my bike is 100% business... ?

  13. #28
    Join Date
    4th January 2005 - 18:50
    Bike
    Massey ferguson 7495 dyna-vt
    Location
    Hawkes Bay
    Posts
    6,909
    Quote Originally Posted by greminn View Post
    Hmm - i am looking at this at the moment. I have a small business. I currently lease a car for that business, which is 100% business car. The misses and I own another car privately - and we happen to live in the same building as my business is in (seperate premises).

    Becuase of the fact that dont use my company car to get to and from work, and i dont use it for personal use, we dont pay any FBT on that car.

    Now: I want a new bike, CustomFleet are quite happy for me to lease a bike thru them, I intend to use the bike for business use. But the problem is that i will really have to pay FBT on this correct? I mean i cant say that my bike is 100% business... ?
    depends on how you classify the use of the bike and how its potetial paper trail looks...times...dates...etc [how many bussiness only vehicles full up on a sunday arvo in the coromandel??]
    Quote Originally Posted by Drew View Post
    Given the short comings of my riding style, it doesn't matter what I'm riding till I've got my shit in one sock.

  14. #29
    Join Date
    5th December 2008 - 15:00
    Bike
    2008 Kawasaki z1000
    Location
    Mount Maunganui
    Posts
    194
    Quote Originally Posted by cowpoos View Post
    depends on how you classify the use of the bike and how its potetial paper trail looks...times...dates...etc [how many bussiness only vehicles full up on a sunday arvo in the coromandel??]
    Hmm, yes good point on the coro loop fill up. I wonder if I should clasify it a certain % persoanl use and suck a bit of FBT? I don't take much of a salery on the books anyway.

  15. #30
    Join Date
    4th January 2005 - 18:50
    Bike
    Massey ferguson 7495 dyna-vt
    Location
    Hawkes Bay
    Posts
    6,909
    Quote Originally Posted by greminn View Post
    Hmm, yes good point on the coro loop fill up. I wonder if I should clasify it a certain % persoanl use and suck a bit of FBT? I don't take much of a salery on the books anyway.
    More importantly...you have to classify/justify its use in bussiness!! Its very easy for IRD to see use for personal gain...but the business gain of the machine would be??
    Quote Originally Posted by Drew View Post
    Given the short comings of my riding style, it doesn't matter what I'm riding till I've got my shit in one sock.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •