Novated Leasing
Helping employees save money on a new, used or existing car.
A novated lease is a popular salary packaging option in Australia that allows employees to lease a car using their pre-tax income.
This arrangement can lead to significant tax savings, as part of your salary goes towards paying for the vehicle before income tax is applied. With a novated lease, you can bundle vehicle expenses like fuel, maintenance, and insurance into one regular payment, making it easier to manage costs. This type of lease not only helps reduce taxable income but also provides a convenient way to own and maintain a car, potentially saving thousands over the lease term.
How novated leasing can benefit you
You can set up your car loan directly through your employer to save you money. With fixed lease payments, car expenses included, and huge savings available on income tax and GST, you can get the keys to a new car without a traditional loan arrangement.
- One-on-one assistance from your consultant.
- Experienced and understanding expertise.
- Fast, great-value, tailor-made solutions.
A better way to attract & retain quality staff
With a novated lease, you can strengthen or create an employee benefits program that supports your staff and helps them save money on a new or used car. Novated leasing is easy to set up and manage, doesn’t cost your business money, and reduces reliance on company-owned vehicles to free up your balance sheet.
Attractive Employee Perk: Offering novated leasing helps you stand out in the market, providing a valued benefit that allows your staff to drive the car they want, with lower upfront costs and without the hassle of personal vehicle management.
Boost Employee Retention & Satisfaction: With the flexibility and cost savings novated leasing brings, employees feel more valued, leading to higher job satisfaction and loyalty.
Tax Savings for Employees: Employees can enjoy savings on their car expenses, as the payments are made pre-tax, reducing their taxable income.
Hassle-Free Vehicle Management: With fully maintained leasing, the burden of managing insurance, servicing, and other running costs is removed—our team takes care of it all, making it seamless and stress-free for your staff.
No Cost to Employers: There are no upfront costs for you, and you’ll have a simple, efficient way to provide a meaningful benefit without any additional workload or financial burden.
FAQs
How does novated leasing work?
A novated lease on a new or used car allows your staff to make loan repayments as a deduction from their pre-tax salary. With a novated lease, employees can also bundle their car expenses for better budgeting, like fuel, maintenance, insurance, and more.
Who is eligible for novated leasing?
Novated leasing is available to employees whose employer offers salary packaging as part of their benefits. It’s most common for full-time employees, but part-time and casual workers may also qualify depending on their employer’s policy.
Can I lease a used car through novated leasing?
Yes, you can lease both new and used cars under a novated lease. The car must meet certain criteria, such as being under a specific age and in good condition, depending on the leasing provider’s policies.
What happens if I change jobs during the lease?
If you change employers, you can transfer the novated lease to your new employer, provided they offer salary packaging. If not, the lease will revert to a standard car lease, and you’ll be responsible for the payments.
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