PET - Plain English Taxonomy

Attribute: BSAO13126
Concept:
Label: Number of Goods Financed Under New Lease Commitments - Finance Leases
Concept Guidance:
This is the number of goods financed, or to be financed, under finance leases, for which new commitments have been provided by the reporting party during the relevant period, regardless of whether or not they have subsequently been withdrawn, or cancelled, during or after the period. This excludes commitments for commercial hire purchase agreements, for debt participation in leverages lease agreements, and for leveraged leases which are finance leases where the lessor provides a portion of the finance, with the major portion usually provided by long-term creditors and where the creditor's recourse to the lessor is restricted to the proceeds from disposal of the leased asset and any unremitted lease payments.                                                                                                                                             A commitment is a firm offer to provide finance which has been accepted by the client. A commitment generally exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. A Finance Lease refers to the leasing or hiring of tangible assets under an agreement (other than a hire purchase agreement) which transfers from the lessor to the lessee substantially all the risks and benefits incidental to ownership of the assets, without transferring the legal ownership. 
Dimensions
Dimension Member Description
(MotorCarUsedGTDepreciation)
Information in relation to the intended purpose of the counterparty in regards to loan agreements entered into by the entity.
Information in relation to loan agreements entered into by the reporting party for the purpose of purchasing or leasing used motor cars (i.e. those which have previously been owned and used by others) where the vehicle value is greater than the depreciation limit for the relevant period.This may include for example, cars, station wagons, 4WD and forward control passenger vehicles/vans. This will exclude for example, trucks, buses, special vehicles, utilities, panel vans and motor cycles/scooters.The depreciation limit is the maximum amount which can be depreciated for taxation purposes, as set by the Australian Taxation Office. This limit is revised periodically.