If you're thinking about getting a novated lease, you're probably wondering just how much it can save you. The great news is that a novated lease can offer substantial savings on both car ownership and running costs, while also providing significant tax benefits.

When you enter a novated lease, understanding how Fringe Benefits Tax (FBT) works is key to managing your overall costs. FBT is a tax your employer pays on benefits provided to you, such as the use of a vehicle. With a novated lease, a portion of your vehicle’s expenses is paid using your pre-tax salary, but FBT applies to the private use of the vehicle.

Fringe Benefits Tax (FBT) can be a concern for anyone entering into a novated lease. However, with some strategic planning, it’s possible to reduce or even avoid paying FBT. Here’s how you can make the most of your novated lease without incurring extra tax.

Salary packaging an electric vehicle (EV) has become an appealing option for many Australians, offering a smart way to make the switch to greener driving.

Electric vehicles (EVs) have surged in popularity across Australia, not just for their environmental benefits but also for potential financial advantages.

When it comes to novated leasing an electric vehicle (EV) in Australia, there has been much talk about Fringe Benefits Tax (FBT) exemptions.

Yes, you can claim an EV charger on a novated lease, provided it is bundled into the overall cost of the lease agreement.

In Australia, novated leases are a popular option for employees looking to finance a car by salary packaging it through their employer.

Yes, you can claim car washes on a novated lease. Under a novated lease agreement, all running costs related to your vehicle are typically covered, including fuel, servicing, registration, insurance, and yes, car washes.

One of the common questions surrounding novated leases is whether you can claim cents per kilometre for business travel. While novated leases come with various tax benefits, the ability to claim deductions for kilometres driven is a bit more nuanced.

Yes, you can claim electricity expenses on a novated lease, but only in certain situations. If you're driving an electric vehicle (EV) under a novated lease, the electricity you use to charge your vehicle can typically be claimed as part of your running costs. This expense is much like how fuel is treated for petrol or diesel vehicles.

Getting a Tesla on a novated lease can be a smart move, particularly for those looking to save on tax, enjoy the benefits of electric vehicles (EVs), and have predictable running costs.

As electric vehicles (EVs) become more popular in Australia, many people are looking at novated leases as a way to drive an EV while enjoying significant tax benefits. But what are the specific requirements to qualify for an EV novated lease? Let’s break it down.

Salary sacrificing an electric car is an increasingly popular option for Australians looking to enjoy the benefits of cleaner transportation while saving money on taxes. But is it truly worth it? Let’s explore how this arrangement works and the advantages it can bring.

If you’ve signed up for a novated lease, you might be wondering whether you can claim car expenses on your tax return. The answer is a little more complex than a simple yes or no.

If you’ve signed up for a novated lease, you might be wondering whether you can claim car expenses on your tax return. The answer is a little more complex than a simple yes or no. A novated lease is a salary packaging arrangement where your employer deducts your car-related expenses, such as lease payments, fuel, and maintenance, directly from your pre-tax income. This gives you tax savings upfront.

Yes, fuel can be included in a novated lease, making it easier to manage your vehicle’s running costs. Here’s how fuel costs work within a typical novated lease arrangement:

Under a novated lease, the car is legally owned by the leasing company throughout the lease period. However, as the employee, you have the right to use and possess the vehicle during this time. Here’s a breakdown of how ownership works under a novated lease:

A novated lease is a popular vehicle financing option in Australia that involves a three-way agreement between an employee, their employer, and a finance company.

A novated lease is a popular vehicle financing option in Australia that involves a three-way agreement between an employee, their employer, and a finance company.