Boat Lease
When leasing boats the financier purchases the vessel and provides a commercial boat loan leasing arrangement back to you. There can be an arrangement to have the opportunity to own the boat at the end of the term of the boat lease.
Boat leasing is normally used for boat sales on commercial vessels.
The financier being the purchaser will claim the GST component in the sale of the boat. The balance is then leased of which the payments are subject to GST (unless there is GST exemption).
A boat lease terms and residuals can be set by the Australian taxation office and these details can normally be provided by your boat finance company, accountant of the Australian Taxation Department.
The boat lease interest rates are fixed with no option for a variable interest rate.