All Entries in the "Novated Lease Explained" Category
What is a Novated Lease?
A novated lease is a unique type of lease available in Australia. It is usually an agreement between three parties; an employee, their employer and a lease company. The employee leases the vehicle from a leasing company and the employer assumes the employee’s obligations regarding the lease. The employer will then deduct money from the [...]
How do I choose a Novated Lease Company?
How do I choose a Novated Lease Company? Decided to do a Novated Lease but now you are not sure which Novated Lease company to use?
Novated Lease FBT
Fringe Benefits Tax (FBT) is applicable to all vehicles under a novated lease. There are two types of methods for calculating FBT on a motor vehicle,
Novated Lease
A Novated lease is a finance method for employees to purchase a car in a tax effective manner through their salary package.