Why Novate?

Novated Leasing is equivalent to an instant payrise, it is a fantastic staff benefit that is used by smart employees to stretch their pay further.  

The 1 July 2024 income tax changes are a welcome relief that will boost most people's net pay by around $2,000 per year. Adding a novated lease into the mix can reduce your tax even further. For example the average tax saving on a ICE vehicle is around $3,000 - $5000 per annum and on an FBT exempt EV this increases to around $8,000 - $10,000 per annum.  

A large portion of the vehicle's finance and running costs are deducted from the employee's pre tax salary. This reduces your taxable income and reduces the amount of (PAYG) tax payroll deduct from your pay, so you are saving tax no matter how much or how little you earn.

In the case of an eligible FBT Exempt EV or PHEV, 100% of the vehicle's finance and running costs are deducted from your pre tax salary, providing huge income tax savings and drastically lowering the overall cost of owning and running an EV. 

In addition to the ongoing tax savings, a Novated Lease also provides access to a GST credit of up to $6,191.64 off the vehicle purchase price up front + GST savings on running costs for the life off the lease. 

Anyone can Novate a vehicle. As long as you qualify for finance and your employer allows Novated Leasing you can access this incredible employee benefit. Most corporations and government employers offer novated leasing to help employee's maximise their remuneration.

Many people miss out on this incredible benefit due to the various myths and mis-information widely spread by well meaning "experts".  Our objective is to provide friendly, unbiased, quantified information, to help you assess and understand the product in it's entirety and enable you to make a well informed, intelligent choice about the best way to purchase and finance your vehicle.