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Extended tax write-offs

With the Federal Budget announcement on Temporary Full Expensing, you may be able to deduct the full cost of eligible business equipment1. Learn more

Your equipment finance options

Choose from 3 equipment finance products

  1. Lease
  2. Goods loan (also known as Chattel Mortgage)
  3. Hire purchase

 

  • Access to finance from $15,000
  • 1 to 5 year terms to suit your loan
  • Finance options can be structured over the life expectancy of your asset
  • Fast approval for existing Westpac equipment finance customers*

Benefits

Negotiate flexible repayment terms. Monthly, quarterly, half-yearly or annually doesn’t suit? We’re happy to negotiate a tailored solution to suit your expected cash flow and budget.

Get certainty with fixed payments on lease and hire purchase, or a fixed interest rate on a goods loan.

Potential tax benefits. Based on your choice of business equipment finance option you could benefit from ongoing tax benefits1.

Features

Know exactly how much you need to pay over the life of your loan:

  • Leases have fixed payments
  • Goods loans have fixed interest rates
  • Hire purchases have fixed payments


Additional features
include the option to establish revolving limits, and the availability of residual value for finance lease, or balloon for commercial hire purchase and commercial loans that could benefit your business.

Quick guide

  Finance Lease Commercial Loan Commercial Hire Purchase
What is it? We purchase the asset at your request and rent it to you for an agreed period. You source and own the asset and we provide a loan secured by the asset. We purchase the asset at your request and you buy it from us in instalments.
Who owns the asset? We do and you rent it from us. You do and we hold it as security. We do until the agreement has been paid when ownership is transferred to you. 
What is the potential tax benefit1? The rental payments are generally tax deductible. The interest on the finance and depreciation of the asset are generally both tax deductible. The interest on the finance and depreciation of the asset are generally both tax deductible.

Fees

Please note that fees and charges, including government duties and GST may apply. One of our specialist business bankers will be able to talk you through these.

Rates

Interest rates and repayments vary depending on a number of factors. Some of these may be:

  • Which finance option you choose
  • Type and age of the asset being purchased
  • Term of the finance agreement.


If you’d like a personalised quote, we’re happy to help. Please fill out your details using our online enquiry form, and we’ll be in touch within 1 working day.

Things you should know

* Credit criteria, terms and conditions, fees and charges apply. Available to existing Westpac account holders only.

Applications for vehicle and equipment finance are subject to the Bank's normal lending criteria. Credit criteria, terms and conditions, fees and charges apply.

1. The taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation. Customers must seek their own independent tax advice in relation to their individual circumstances.