Novated Lease Watch

Novated Leasing

Employer Benefits of a Novated Lease

• Reduced Motor vehicle administration - when purchasing vehicles and establishing finance, ongoing day to day management and also disposing of vehicles
• Comprehensive reporting, including FBT Reporting
• It's like giving your employee a payrise that you don't pay for
• No residual risk
• Able to become the employer of choice by offering employees flexibility and potential income maximisation

Employee Benefits of a Novated Lease

• No establishment fees (standard novated lease)
• No monthly fees (standard novated lease)
• No payout penalties
• Choice of motor vehicle (new or used)
• Car discounts and fleet discounts for all clients
• Potential tax savings to increase take home pay from Salary Packaging
• Able to structure finance to suit you
• Employer may pass on GST input tax credits to the employee, which will reduce the monthly lease repayments
• Able to take your vehicle and the novated lease with you to another employer so you can keep your car even if you change employer
• Easy budgeting of vehicle expenses as one deduction of salary before you get paid covers all vehicle expenses (except fines and infringements which are still yours to pay)
• Unlimited private use