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Novated Leasing can be a great way to optimise your PAYG income tax by utilising your tax-free income to save considerably on the costs of owning a new car.
So, the benefits include:
- Fleet Discounts
- Potential Tax Savings, including GST
- Convenience – time to spend doing what you’d rather be doing !
BENEFITS TO THE EMPLOYEE
New, demo or late used cars can be novated, subject to age / km restrictions on the car
A car can be novated for a family member instead of, or as well as one for the employee
Less income tax is payable by you
You pay for your car and its running costs free of GST
The payment and all the budgeted costs for your car are deducted from your salary in one payment
You don’t have to use the car for business use to benefit, or do high kms
Any make or model is available – you get free objective advice on the market should you want it.
Completely portable – the lease can move with you should you leave your current employer