Novated Leasing for Employees

For employees, a highly popular remuneration benefit and tax-effective form of car finance is a Novated Lease. Employees can maximise their take-home pay by capturing all their vehicle finance and running costs into one deduction via their employer’s payroll, achieving significant tax savings for most PAYG employees.

Novated Leasing has become a highly popular method of financing private vehicles due to the attractive tax savings that employees can gain. A novated lease consolidates the finance and running costs of the vehicle into an employee’s pre-tax income, which ultimately reduces the amount of income tax employees pay.

Pre-tax deductions are also exclusive of GST, which means you save the GST on the purchase price of the vehicle and most of your running costs.

How does it Work?

It’s as easy as selecting the car of your dreams!

  • Choose your car – whether new or used.
  • Enter into a leasing agreement with us
  • Your employer makes payments from your salary.
  • If you move employers, the lease will move with you (if your new employer agrees).

Benefits of Novated Leasing for Employees

  • Drive the car of your dreams at an affordable monthly rate for both business and pleasure.
  • You can achieve cost savings on vehicle purchase, running costs and tax.
  • Don’t lose thousands of dollars the moment you drive a brand-new car out of the showroom.
  • The lease deductions can include fuel, registration and servicing so you can consolidate and easily manage your expenses.
  • You have a choice of a variety of end of lease options, from buying the vehicle at the agreed residual value, or, handing the vehicle back.
  • You can benefit from highly competitive interest rates when sourced through us. 

Benefits of Novated Leasing for Employers

  • Novated leasing helps you become an employer of choice by providing your employees with an opportunity to achieve additional benefits on a cost-neutral basis.
  • If the employee leaves before the end of the lease, they take the lease with them. 

Contact NextFleet Australia for NextLevel solutions, expertise and partnership.

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