A novated lease is a three-way agreement between you the employee, the employer and the financier, where the obligations under the finance lease are transferred (Novated) to the employer, and the employer assumes all responsibility under the lease agreement.
The obligations under the finance lease stay with the employer until the employee ceases employment or until the end of the lease term.
- Total flexibility in vehicle choice.
- Lease terms range from 12 – 60 months.
- Maximise your salary.
- Lease payments, fuel, maintenance, registration, insurance from your pre-tax salary.
- Substantial GST savings.
- Unlimited private use.
- Retain the vehicle of your choice if you change employment.
- An easy and cost effective way to add value to an employee’s salary package.
- A fixed monthly rental for the term of the finance lease.
- Input tax credits for the GST component of the lease payments and operating costs can be claimed.
- The time and costs associated with vehicle management and disposal of vehicles are not the employer’s responsibility.
- The vehicle does not appear on balance sheet.
To apply for or enquire about a Novated Lease please fill out our online finance enquiry form and one of our customer service representatives will be in contact with you or call 1300 3 FLEET (1300 335 338) Today!
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As we are not tax advisors always seek independent advice from your Accountant.
