03 Nov Finance Update 02/11/2016
As predicted the RBA left rates on hold today. So, no change for rates at present, however there are some indications that this may change in the near future.
Small Business Tax Deduction
If you are thinking of buying a business asset, don’t forget about the $20,000 immediate tax deduction. If you purchase an asset with a cost of up to $20,000 (including Solar) you will get the deduction in this 2017 financial year and that includes financed purchases. To see if this deduction is available to you, we suggest you talk to your accountant and then talk to us about finance options!
Home & Investment Interest Rates
The market for the lowest Interest Rates is still very competitive between Financial Institutions, however these rates may not apply to everyone. Rates vary if Principal and Interest or Interest Only. If Home or Investment. Also the lending ratio. Why not contact us to review your rates.
Institutions are still currently offering up to 100% borrowing against residential security and up to 80% against commercial security for under $1,000,000. This could be a great way to assist with cash flow. Some are even waiving Valuation fees. Conditions apply.
Motor Vehicle Rates
You will find that if you already have your finance Pre-Approved you will receive a discount on the vehicle. Don’t get caught out with the car yards quoting 0%, 1% or 2% finance, what they lose on the rate is already factored into the sale price.
Most of your traditional lenders do not like Tax Debt and soon as you mention it to them, become nervous. But it seems to be more and more people are paying off the tax office now than previously. We have a few options available and more than happy to discuss a solution with you.
Let us at KT Financial Services assist you in any of your finance inquiries.