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Q4 – time to finalise vehicle and equipment acquisitions with cheaper commercial finance
. 5 min read
Maximize Your Tax Deductions The fourth quarter of the financial year signals time to speak with Business Finance about cheaper commercial finance for vehicle and equipment acquisitions. Traditionally the last 3 months of the financial year is the time when many business owners assess their position and look to maximise tax deductions through purchases before 30 June. To be eligible as a tax deduction, assets may need to be operational in a business prior to that date. For some machinery and equipment time may need to be allowed for delivery, installation and commissioning. There are additional compelling reasons as to why moving now on essential acquisitions is even more important this year. Capitalise, Optimise, Maximise, Minimise Reasons to act now are driven by the opportunities to minimise interest payable on finance, capitalise on opportunities, optimise benefits and maximise tax deductions. A key reason is the interest rates outlook. While the latest inflation figures are seen by many as a reason... Read More
From soaring inflation to disinflation. Latest CPI relevance for interest rates
. 6 min read
How Disinflation Affects Commercial Finance Interest Rates Business Finance Australia covers off on the latest inflation figures from the ABS and the relevance of disinflation on commercial finance interest rates. Disinflation is the term which Michelle Marquardt from the Australian Bureau of Statistics (ABS) used to describe the two consecutive monthly figures of a lower inflation rate annually. From the peak of 8.4% reached in December 2022 and following a year of soaring rates, the ABS has now reported two monthly CPI data series of lower rates. January’s rate was a significant fall to 7.4%. A smaller drop was expected by the markets for February, possibly to around 7.1%. But the figures were much better than expected with the annual inflation to February 2023 at 6.8%. The result is extremely significant for interest rates as it comes less than a week ahead of the crucial Reserve Bank (RBA) Board meeting to make the April cash rate decision. This meeting and... Read More
Pause or raise? RBA interest rates options for upcoming decision
. 5 min read
With both a pause and a rise in interest rates possible at the next RBA meeting, Business Finance updates on rates to assist operators with finance decisions. The Reserve Bank (RBA) Board has announced ten rate rises consecutively since May of last year. But based on discussions at the RBA Board’s March meeting, a pause in those increases may be upcoming. There was discussion of a pause at the December meeting, as revealed in the minutes. Governor Philip Lowe backed that up at the time with remarks that all options were on the table. But the economic conditions prevailing by the February meeting meant the pause was not discussed. However, the minutes of the March RBA Board meeting do reveal that the option of pausing interest rate increases will be discussed at the upcoming April meeting. The optimism around that revelation may be moderated by the discussion at the same meeting, that it is likely that more increases will be... Read More
Cost-effective Luxury Vehicle Finance for Cars of the Year
. 5 min read
Business Finance Australia assists businesses to acquire high-end vehicles as judged the cars of the year, with cost-effective luxury vehicle finance. While the popularity of all types of SUVs continues to grow, the demand for the traditional style and elegance of a luxury sedan remains strong. Especially with many business owners and astute private buyers. Buyers that appreciate the attention to detail, exquisite engineering and the personal sense of achievement and satisfaction of owning and driving a luxury vehicle. But with many businesses and individuals dealing with the challenges presented by the current inflationary pressures, the finance for that new luxury vehicle needs to be cost-effective and affordable. We cover off on how we can deliver on that requirement after we advise on the latest award winners in Drive’s Car of the Year luxury segment. Car of the Year Medium Luxury Category The expert team at Drive has been conducting the annual awards and announcing the winners in over 20... Read More
Upgrade on back of good numbers for agri and aquaculture – get approved for cheaper machinery finance
. 5 min read
Producers looking to upgrade as a result of the good results and outlook from ABARES can source cheaper machinery finance through Business Finance Australia. The good numbers were announced by ABARES – the Australian Bureau of Agricultural and Resource Economics and Sciences at a conference in Canberra on 7 March and include record level forecasts for 2022/23 in some areas. The reports and snapshots show continued strong growth in agriculture and although income for broadacre farms is projected to decrease this financial year, it is still well beyond the 10 year average. For fisheries and aquaculture the forecast for 2022/23 is also strong with an 8% increase expected. One of the reasons for the good growth in some areas is given as operators investing in productivity. Machinery and equipment manufacturers focus heavily on including features in new models which will generate improved productivity, reduced costs and increase profitability. Review this summary of the ABARES announcements and our finance update and... Read More
RBA March Monetary Policy Statement – interest rates up but pause closer
. 5 min read
As was expected, the RBA lifted interest rates a further 0.25% on 7 March meeting, said more increases likely but also indicated a pause was closer. The RBA Governor, Dr Philip Lowe made the ‘pause’ comments in a speech at the Australian Financial Review Business Summit, held the day after the RBA Board meeting. The content of that speech is informative as it expands on comments in the monetary policy statement and covers more ground. Comments and ‘ground’ which may be of assistance to business owners in the midst of making those vital acquisition decisions in the lead-up to the end of the financial year. Having as much intel as possible as to what may lay ahead in business conditions may provide be vital to those finance decisions. Interest rates are critical to commercial loans and with rates set to move higher, using an experienced broker to secure the cheapest rates can be an astute decision. The current cash rate is... Read More
Secure a new vehicle from Hyundai Trucks at cheaper interest rates
. 5 min read
Hyundai Trucks has new stock now available and buyers can source cheaper interest rate truck loans to make their purchase through Business Finance Australia. This will be a busy time for truck buyers as the end of financial year and the end of temporary full expensing looms. It could also be timely to purchase new vehicles with finance prior to any more rate rises. Securing the vehicles means finding a manufacturer and/or dealer with stock available for immediate delivery. Placing orders and having to wait beyond 30 June, may mean missing out on tax deductions in this financial year. Hyundai Trucks apparently have stock of some models and new models are coming soon. For operators in the market for a medium duty truck, the Hyundai range may be worth considering. Hyundai Trucks Models Now Available Operators requiring a refrigerated vehicle may consider those currently in stock at Hyundai dealers. These vehicles are ready for delivery and drive away so buyers can... Read More
Considering new commercial loans? Review latest inflation and economic figures for guidance
. 5 min read
Reviewing inflation and economic activity data may provide guidance as to the potential business outlook to assist in making decisions on commercial loans. Deciding when is the best time to proceed with major acquisitions with finance – trucks, equipment, machinery, can be guided by an understanding of the outlook for the specific industry sector or the wider economy. What’s happening with inflation in the current economic climate is of particular significance. The RBA is continuing with raising the cash rate to bring inflation down to its target of 2-3%. Changes in inflation may provide indications of what the next RBA decision may be. The timing of securing commercial loans may mean the difference in a higher or lower interest rate. A difference which may be significant in the effect of cash flow over the term of the finance. While it may sound like quite an involved and complex process to study statistics on economic activity, it doesn’t have to be to... Read More
February RBA Meeting Minutes reveal uncertainties re interest rates and inflation
. 5 min read
The uncertainties discussed by the RBA Board at its February around interest rates and inflation may present reason to expedite new asset purchases with finance. These uncertainties were detailed in the Minutes of the 7 February meeting which were posted to the Reserve Bank website on 21 February. While most will obtain information on RBA decisions through media reports, it can often be worthwhile referring directly to the source documents to gain a better perspective and greater insights. Meeting minutes contain a lot more detail and cover a wider range of topics than are included in the statement issued by the Board to announce its monthly interest rates decisions. This additional information may be beneficial to business owners and operators in acquiring a more broad-based view of the outlook for their sector or the Australian economy in general. Most importantly, the minutes may offer a greater understanding of the RBA’s thinking and reasoning around interest rates. Rates are key to... Read More
Secure equipment finance before next construction shows
. 5 min read
Operators can get equipment finance approved with Business Finance pre-event in preparation to purchase at upcoming construction machinery expos and auctions. Two major events are coming up in April and May which offer ideal opportunities to see the latest machinery and technology in for earthmoving, infrastructure, construction and civil construction sectors. Opportunities to inspect many machines in the one place, save time and most importantly to place orders to expedite delivery. Opportunities which can be optimised when the finance has already been secured. These upcoming events – National Diesel, Dirt and Turf Expo and the Heavy Equipment and Machinery Show, also include live auctions of used equipment by Pickles Auctions. In order to bid, operators will want be confident that they have been approved for finance. We assist operators to have that confidence, save time and secure cheaper machinery and equipment finance ahead of making their final decisions and purchases. It is a smart way to go and can deliver... Read More
