Can You Claim an EV Charger on a Novated Lease?
Yes, you can claim an EV charger on a novated lease, provided it is bundled into the overall cost of the lease agreement. With the growing popularity of electric vehicles (EVs), many novated lease providers have expanded their offerings to include EV chargers as part of the package. This can be an appealing option for employees looking to invest in a sustainable vehicle solution while also covering the necessary equipment for home charging.
How Does It Work?
When you opt for a novated lease on an electric vehicle, the cost of the EV charger can often be included in the financing. Much like fuel cards for petrol cars, this approach enables you to package the cost of both the vehicle and its associated equipment (such as a home charging unit) into a single pre-tax payment.
By packaging these costs, you effectively reduce your taxable income, potentially saving thousands over the lease period. Since novated leasing also covers ongoing vehicle expenses like maintenance, insurance, and registration, it’s worth checking whether your provider can extend similar benefits to EV charging-related expenses, such as installation or portable charging solutions.
What About Installation Costs?
Some novated lease providers may also allow you to include the cost of installation for the EV charger in your lease package. This can be particularly beneficial if you’re setting up a home charging station, as installation by a qualified electrician can be a significant expense. Be sure to confirm with your novated lease provider whether this is an option available to you.
Benefits of Including an EV Charger
By incorporating the cost of your EV charger into the lease, you not only avoid the upfront cost but also streamline your financial commitments into a single, manageable payment. This helps spread out the expenses, ensuring you’re fully equipped to enjoy the benefits of electric driving from day one.
Conclusion
If you’re considering an electric vehicle on a novated lease, it's definitely worth asking your provider about including an EV charger. Bundling the cost into your lease can save you money and simplify your electric vehicle ownership experience.
Ready to explore your options for a novated lease and claim an EV charger? Contact us today to see how you can maximise your tax benefits and make the switch to electric!