LOCAL BRANCH

Fairfield

1-12 Mandarin Street, Fairfield NSW 2165
Business Summary
New & Used Earthmoving Equipment, Parts & Service
About Us

Komatsu was founded in Komatsu city in 1921. Komatsu built its first crawler tractor more than 65 years ago and has since developed the world’s most extensive range of earthmoving, mining, construction and utility equipment.

Komatsu Australia today offers a full product line up with quality parts and reliable service to meet all our customers’ needs in the earthmoving industries.

Komatsu products are directly marketed, serviced and supported throughout Australia, New Zealand and New Caledonia by Komatsu Australia Pty Ltd.

Komatsu Australia’s factory ownership and national coverage ensure the shortest possible lines of communication between factories and our distribution outlets, allowing Komatsu Australia to respond to customer needs and special requests in a timely and efficient manner - and to offer a ‘user-friendly’ consistency of services and commercial arrangements nationwide.

FAQs
Are there any other limitations?
The lease term must be less than 75% of the equipment's useful life for Income Tax purposes. Also, AASB 117 "Leases" requires substantially all the risks and rewards incidental to ownership of the leased equipment to be transferred to the Lessee.
Is it on or off the Lessee’s balance sheet?
On the balance sheet.
What proportion of the rental is tax deductible?
Where Division 240 and Division 16D of the Income Tax Assessment Act do not apply, the full rental (excluding GST) should be tax deductible to the Lessee for Income Tax purposes.
Are up front deposits allowable?
No, in accordance with Australian Tax Office requirements.
Must there be a residual value?
Yes. In order to comply with Australian Tax Office requirements, the residual value must represent a fair estimate of the market value of the leased equipment at expiration of the lease.
When is Goods & Services Tax payable?
GST is paid with each rental and the Residual Value.
What portion of the rentals is expensed for Australian Accounting Standard purposes?
The full rental (excluding GST) is expensed to the Lessee for accounting purposes.
What happens at the end of the lease?
The Lessee must return the equipment to the Lessor, unless the lessor has agreed to extend the lease for a further term. Return conditions will apply.