GST Implications

GST Implications

 

Characteristics Lease CHP Chattel Mortgage
Are repayments tax deductible?* Yes No No
Can you depreciate the equipment as tax deductible?* No Yes Yes
Is the interest tax deductible? No Yes Yes
Is GST payable on the cost of the equipment? No Yes Yes
Is GST payable on repayments? Yes No No

*If used for income producing purposes

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