Depreciation rates are complex
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.