Novated Lease Electric Car: Novated Leasing – Smarter, Faster Way to an Eco Friendly Electric Car
Novated leasing can be an efficient, smarter way to get behind the wheel of an eco-friendly electric car. Payments come out of pre-tax salary, lowering income tax. Novated leasing could be the ideal way to finance your EV purchase!
Now is an excellent time to go green! Between FBT exemption and bulk buy discounts available on electric vehicles (EVs), now is an ideal opportunity to go eco.
1. Reduced petrol costs
More people are opting for novated lease for eco friendly electric car (EVs) over traditional cars, and petrol costs have decreased considerably as more switch over. You could save approximately $10 per 100km due to using rechargeable batteries instead of fuel; maintenance requirements also tend to be much reduced with these types of cars.
Novated leasing allows you to salary package your electric vehicle (EV) and cover its running costs with pre-tax money, significantly lowering both income tax and GST liabilities. Thanks to the EV Discount policy, leases of EVs under $84,916 may now qualify as FBT exempt leases – saving thousands each year in taxes and fees!
Now is an ideal time to consider investing in an eco-friendly EV or plug-in hybrid vehicle, with our assistance you can find just the vehicle from a wide selection and make sure your novated lease structure allows for maximum savings. Furthermore, we can assist with battery and charging system needs so reach out now to get going!
2. No FBT to worry about
As the Electric Vehicle Discount Bill eliminates Fringe Benefits Tax (FBT), novated leasing has become an even better solution for drivers searching for eco-friendly cars. Employees can salary sacrifice their electric vehicle’s running costs from pre-tax income, resulting in significantly lower total costs than would otherwise apply if purchased outright.
FBT exemption also extends to plug-in hybrid vehicles, so those leasing through novated leasing can remove GST on both their new car purchase and ongoing running costs. This unique advantage makes EV ownership more accessible to Australians while keeping costs at bay.
Novated lease for eco friendly electric car (EVs) typically require less maintenance than petrol cars due to having fewer moving parts; furthermore, you can eliminate petrol and diesel costs through novated leasing agreements making an EV an attractive choice for saving money on driving expenses.
3. Tax-free repayments
Through Government incentive programs, now is an opportune time for people to invest in an electric car via novated lease. The Australian Taxation Office has removed Fringe Benefits Tax on these EVs provided they’re held and used prior to April 2025.
Novated leasing can be an efficient and cost-cutting way to acquire an electric car. Payments and running costs can be taken directly out of your pre-tax salary and this saves on vehicle registration, insurance and maintenance expenses, fuel costs as well as saves the environment!
Novated leasing also reduces your taxable income and GST liability, making it easier for you to claim any energy expenses such as electricity or petrol costs that may arise. Furthermore, this may help to lower carbon footprint of vehicles while potentially decreasing Australia’s reliance on imported fuel sources*
4. No maintenance costs
EVs or electric vehicles don’t utilise internal combustion engines that can present costly issues – however they still need servicing and their tyres replacing periodically. With a novated lease agreement you can make this happen quickly while saving even more on running costs with one easy regular payment plan.
Novated lease for eco friendly electric car options for zero emission and plug-in hybrid electric vehicles have never been more appealing, thanks to tax concessions granted by the federal government. FBT exemption makes these eco-friendly cars more accessible for employees doing a novated lease arrangement; making this the deal of a lifetime!