De­pre­ci­a­tion rates are com­plex

Matamata Chronicle - - Rural Delivery -

Com­pli­ance Loan’’. The in­ter­est rate for this type of loan is around 5 per cent, about 1 per cent lower than a 90 day BBR.

This loan is up to $300,000 and is for a pe­riod of five years prin­ci­pal re­duc­ing. No es­tab­lish­ment fees ei­ther!

Many en­vi­ron­men­tal projects are cov­ered by this spe­cific loan.

In the end I’ve done so much home­work I’ve to­tally con­fused my­self. At the end of the day I re­alised that I am only an ac­coun­tant try­ing to do a farmer’s job. The only way I could get a real an­swer to my prob­lem was to em­ploy a con­sul­tant spe­cial­is­ing in this field. At least I know that’s tax de­ductible! If you would like fur­ther help iden­ti­fy­ing the de­pre­ci­a­tion rates please con­tact me.

GAVIN HAD­DON

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