The following Terms & Conditions apply to any quote in respect of a novated lease (Quote) that is provided to you by Autopia Management Pty Limited ABN 80 111 369 049 (“Autopia” or “we”, “us”, “our”). By accepting the Quote, you accept without limitation or qualification the terms and conditions below. We reserve the right to change these Terms & Conditions from time to time by updating our website.
You acknowledge and agree that:
(i) In providing calculations, estimates or recommendations to you as part of the quotation process (Quotation Information), Autopia has relied on the information provided by you and third parties (such as vehicle manufacturers).
(ii) While Autopia undertakes to take reasonable care to ensure that Quotation Information it has provided to you is accurate, based on the information available to Autopia at the time of compilation, to the extent permitted by law, Autopia:
a. does not offer any warranty as to the accuracy or reliability of such Quotation Information; and
b. disclaims any liability for direct or indirect loss or damage which you may suffer through relying on anything contained in or omitted from the Quotation Information.
(iii) Quotation Information provide to you by Autopia is of a general nature only and is designed to be a guide only to the tax savings you may achieve from a novated lease. Before making any decisions involving a novated lease arrangement and associated financial products or services we strongly recommend you obtain independent qualified professional advice about the suitability of the products or services to your particular situation.
(iv) Autopia may receive commissions, rebates or other payments or benefits from third party providers of goods and services in connection with your novated lease, and as a result of Autopia receiving these benefits, you should not expect that any advice or recommendations given by Autopia will be disinterested, nor will Autopia disclose any conflicts of interest to you.
You understand that:
(i) The salary comparison details provided in the Quote have been estimated based on the fringe benefits tax (FBT) statutory formula method.
(ii) The FBT year is from April 1 through to March 31. If your novated lease starts mid-way through the FBT year your kilometres and contribution will be pro-rated from the day you collect your car until March 31. If your novated lease comes to an end before the end of the FBT year, your kilometres and contribution will be pro-rated for the period that the vehicle was held during the FBT year. Days on which the vehicle is unavailable during a year do not represent a reduction in annual kilometres.
(iii) The figures in the Quote do not represent actual payroll deductions, as the actual deductions will vary based on the lease and dependent on the number of remaining pay periods in the FBT year.
(iv) The after tax running cost budget in the Quote is an estimate only based on the type of car and forecast annual kilometres. You will be responsible for actual costs. Where actual costs exceed the budgeted allocation, Autopia will increase the annual allocation.
(v) You will be required to fund all shortfalls in accordance with the terms of your Salary Packaging Agreement with Autopia.
(vi) Any surplus monies at lease end will be paid back as taxable salary via your employer. Pre-tax funds held by Autopia cannot directly go towards meeting the residual or early payout of the lease.
(vii) If Autopia is procuring your vehicle, by accepting the Quote you are instructing Autopia to order your new vehicle, once your finance is approved. If you choose later to cancel this order for any reason, you agree to pay Autopia all costs it incurs or is liable to pay to third parties as a result of your order cancellation, including: A) all costs associated with the supply and fitting of accessories or aftermarket products; and B) a cancellation charge of up to 10% (15% if you are in WA) of the purchase price of the vehicle
You declare that:
(i) all information provided by you to Autopia in connection with the Quote is correct and complete.
(ii) you have fully considered the tax treatment of your novated lease and the impact this will have on your financial circumstances, and agree that to the extent permitted by law, Autopia will not be liable for any costs, taxes or penalties you may incur as a result of any future change to the FBT rules as they apply to car fringe benefits, other than as provided in these terms and conditions and in the applicable Salary Packaging Agreement.