What is a
novated lease?
One of the cheapest, most tax-effective way of owning a car
A ‘novated lease’ is the easiest and most tax-effective way of owning and running a car. With one fixed monthly payment covering not only the finance cost but also ALL the running costs of your vehicle such as insurance, petrol, servicing, tyres & roadside assistance.
Our consultants are car lovers whose expertise can help you to get a great car deal and arrange a novated lease to suit your needs and budget. No matter if it’s a new or used car.
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If you receive a salary and pay tax through the PAYG system, then yes, you do qualify for a novated lease. It doesn’t matter how many kilometres you drive, what tax bracket you’re in, whether you use the car for work or not. Even if you own the car outright, you’re still eligible for a novated lease and all the savings that come with it.
Everyone has their own unique set of circumstances, however, as an example of how much money you could be saving, by choosing to salary sacrifice a car in 2019, the average Autopia driver increased their disposable income by $5,203.
Fringe benefit tax is the ATO’s way of generating income from ‘non-monetary’ benefits like a car, but you shouldn’t ever have to pay it as long as your novated lease is managed by Autopia. By covering a portion of your car’s expenses out of your post-tax salary, we offset the liability, completely eliminating fringe benefit tax. This is called the Employee Contribution Method. It’s one of the strategies we can use to ensure you never have to pay fringe benefit tax, and it could be your new best friend.
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