Hire Purchase Calculator (Australia)

Australian hire purchase amortisation with GST treatment and accounting journals.

Hire Purchase Calculator

Australian HP amortisation with GST treatment, repayment schedule and indicative accounting journals. Generate a branded PDF or a locked Excel workbook for the file.

Accounting journals are indicative only. They must be reviewed and authorised by a qualified accountant before posting to the general ledger or lodging any BAS. Australian GST treatment assumes the HP was entered into on or after 1 July 2012. See our editorial guidelines.

Parties & asset

Supplier

Borrower / entity

Asset description

Asset type

Business use %

Private use %

Contract & pricing

Purchase price (GST inclusive)

Deposit

Trade-in

Balloon / residual

Term (months)

Interest rate (% p.a.)

Repayment frequency

Settlement date

First repayment date

Establishment fee

Stamp duty / rego

Monthly account fee

GST basis

Results

Periodic payment (P+I), monthly: $903.95
Payment incl. monthly fee: $918.95
Amount financed: $50,000
Cash price ex-GST: $50,000
GST in cash price: $5,000
Total interest over term: $14,237
Total fees: $1,395
Total of all payments: $65,632
ITC claimable at start: $5,000
Periods: 60 + balloon

Accounting method notes

Xero asset account

HP liability account

Interest expense account

Notes