Because the vessel becomes an asset used to create income, very significant "proportional use" tax advantages apply.
- the GST component of the purchase price can be claimed against,
- as can the GST on purchases and expenses
- the value of your boat may be depreciated in your tax
- finance cost may be deductible
We recommend that you speak with a financial advisor for the details of this, but combined with the Charter Income, this can very heavily subsidise your ownership of your beautiful boat.... and we've been told more than once that the act of putting a boat into Charterlink often means that an Owner can afford a bigger boat than they would have otherwise