Is Novated Leasing Right for You?
Have you ever pondered the thought you should be treating your car expenses like a “well oiled machine” i.e continuing to work for you, not you working for it!
Many people are now “in the know” and catching on quickly to the rules that the ATO changed back in 2014 around a salary packaging benefit called Novated Leasing. The old adage that leasing is ONLY for business use or business owners is well and truly outdated.
Any private use motor vehicle can now be accessible via a salary packaging benefit called Novated Leasing. Leasing your car can literally save you thousands of dollars per year.
Novated Car Lease Vs a Personal Loan
Novated Car Lease For Australians
In Australia, employees can choose to take part of their salary as a benefit instead of cash. In the case of a Novated Lease the employee may choose their family motor vehicle as the benefit, and as such, they take out a finance lease contract on the car of their choice and then transfer (Novate) that lease to the employer who pays for some of the lease from the employees’ pre-tax salary. By paying for some of the lease from pre-tax salary the employee saves on the tax normally paid on this salary!
You benefit by saving thousands of dollars each year and over the term of your lease.
You can use your car for 100% private use, without the need for any business related reasons.
All income levels can gain the advantages and your lease is fully portable if you leave your current employer.
Only drive low Kms per year, not a problem, request a quote to see the savings advantages you can gain on your salary!
Your team members here at NCLO, will help you to select the right vehicle for your needs either new or used. We can also arrange large fleet discount on new vehicles and offer very flexible lease terms. Our partners also have the ability to source you the most competitive interest rates currently available for novated leases in Australia. All of which will help you save even more money!
Looking for an easy to follow explanation on how a novated car lease can work for you? Read through our page How a Novated Car Lease Works.
Novated Car Leasing Options does not purport to offer legal, financial or taxation advice. Employers and employees should seek independent advice as to the implications of a Novated Lease transaction. The salary packaging amounts and take-home pay calculations set out are estimates only. While due care is exercised by us to ensure the integrity of the estimates it does not make any warranties, express or implied as to its accuracy or completeness. Powered by Paywise. Trademarks and Brands are the property of their respective owners.