Assets for Lease – IEDTrust

The Indigenous Economic Development Trust (IEDTrust) was established to lease, purchase and manage assets to support Indigenous economic development. It was originally formed to assist Government with national Community Development Employment Project (CDEP) policy reforms.

The IEDTrust provides leasing options (Operating or Asset) to eligible Aboriginal and Torres Strait Islander individuals, partnerships, businesses or organisations. Competitive lease terms are available for vehicles, machinery, plant & equipment or property that can be used to establish, consolidate or grow Indigenous businesses.

1. Operating Lease (Rental Agreement) – eligible Indigenous Australians can rent business assets for an agreed lease term, in return for regular payments.

Features of an Operating Lease include:

• competitive interest rates which are fixed for the lease term
• the full rental on the asset can usually be claimed as a tax deduction
• monthly direct debit repayment options
• no application fee
• the client is responsible for maintenance and repairs to the asset throughout the lease term
• IEDTrust retains ownership of the asset, and the asset is returned to IEDTrust at the end of the lease term.

2. Asset Lease (Rent to Buy Agreement) - eligible Indigenous Australians rent business assets for an agreed lease term, in return for regular payments. If at the end of the lease term, the client wishes to purchase the asset, they can do so by making a pre-agreed residual payment as a separate transaction.

Features of an Asset Lease include:

• competitive interest rates fixed for the lease term
• the full payment on the asset can usually be claimed as a tax deduction
• monthly direct debit repayments
• no application fee
• the client is responsible for maintenance and repairs to the asset throughout the lease term
• the client takes ownership of the asset upon fulfillment of all contractual obligations.

Currently there are a total of 13 non-land assets (four-wheel drives, buses and trucks), and 10 land assets (mainly light industrial and commercial). Twenty-five land and non-land assets have been identified and are currently in the early stages of being transferred.

Check our Assets Lease Register for a list of currently available IEDTrust assets.

For more information

The Assets for Lease – IEDTrust fact sheet (PDF 134KB, new window) contains more information on the eligibility criteria and application process for leasing an asset.

For any further information please contact our Asset and Property Manager, Bob King by email or telephone (02) 9207 6358.