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Finance Lease |
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Business Finance and Leasing products include the Finance Lease: An agreement that covers most of the useful life of the asset and is based on the lessee guaranteeing the residual value of the leased asset at the end of the term.
The value of the goods are shown on the lessee's balance sheet less depreciation.
The future rentals are shown as a liability.
The Australian Taxation Office dictates the effective life of an asset and the relevant depreciation value. |
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Disclaimer
LeaseChoice does not provide tax and accounting advice. Product descriptions are for information purposes only. Please seek independent advice to ensure you have the best finance solution for your business. |
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