A novated lease is a great option for those wanting to make the switch to an EV. It offers significant income tax savings by taking the cost of your car and its running expenses out of your pre-tax salary.
A novated lease electric car fbt also makes the most of government incentives. For example, eligible EVs are now exempt from Fringe Benefits Tax (FBT) and the five percent import tariff.
No fuel costs
EVs are becoming increasingly popular, and with the introduction of the Government’s Electric Vehicle Discount (EVD), it has never been a better time to consider a fully electric vehicle on a novated lease. EVs are currently being offered for less than $50,000 with finance, running costs and a residual balloon payment all included in one monthly repayment. It is a game changer for those who have put off going green due to cost and can make the switch much more affordable than expected.
With a novated lease, car finance and all running costs (including registration, insurance, fuel, maintenance, tyres, roadside assistance, etc) can be bundled into one monthly payment, taken straight out of your pre-tax salary. It could save you thousands of dollars in FBT and GST.
No maintenance costs
With an electric car, your running costs are much lower compared to petrol or diesel. EVs also attract significant state government rebates, making them even more affordable. Whether you are looking to save on fuel or want to do your bit for the environment, an EV novated lease is a smart option.
With a novated lease electric car fbt, the finance and running costs (excluding insurance) are bundled into one simple payment and collected directly from your pre-tax salary each pay cycle. It is known as ‘car salary sacrifice’ and reduces your taxable income, optimising your take-home pay.
No tyres to replace
You can also get a home charging kit as part of your novated lease, so you can save on EV fuel costs even more by charging overnight. You’ll still need to buy petrol for your daily commute, but a full charge on an electric vehicle can take you far enough to drive right past that service station.
EVs have special tires that are designed to be more durable and last longer than those on traditional vehicles. They are also thinner and taller to reduce rolling resistance, which can deplete the battery. If you want to keep an eye on your EV tires’ lifespan, most have a tread indicator that shows when they need replacing. You can also check them by using a penny and placing Lincoln’s head in the tire tread; if you can’t see all of his head, you need new tires.
As a bonus, the FBT exemption for EVs means you can get a $50,000 SUV or hatchback on a novated lease for as little as $160 per week, including finance and all running costs. It makes EVs the affordable choice for most Australian families, especially considering that you can claim all of your running expenses from your pre-tax salary. To find out more, give us a call today. We can help you make the switch to an environmentally friendly EV.
No commercial charging stations
If you’ve noticed a lot more electric vehicles on the road, it’s because Aussies have been snapping them up like crazy lately. It probably has a lot to do with the government’s latest incentives, which have made eligible EVs surprisingly affordable.
For those thinking of switching to an EV, a novated lease electric car fbt could be the best way to go. A novated lease is a salary packaging arrangement that lets you pay for your car and its running costs with pre-tax money. It can make a big difference when it comes to the cost of an EV, especially as they have much lower running costs than petrol or diesel cars.
EVs are becoming increasingly popular, and with the introduction of the Government’s Electric Vehicle Discount (EVD), it has never been a better time to consider a fully electric vehicle on a novated lease. EVs are currently being offered for less than $50,000 with finance, running costs and a residual balloon payment all included in one monthly repayment. It is a game changer for those who have put off going green due to cost and can make the switch much more affordable than expected.
With a novated lease, car finance and all running costs (including registration, insurance, fuel, maintenance, tyres, roadside assistance, etc) can be bundled into one monthly payment, taken straight out of your pre-tax salary. It could save you thousands of dollars in FBT and GST.
No maintenance costs
With an electric car, your running costs are much lower compared to petrol or diesel. EVs also attract significant state government rebates, making them even more affordable. Whether you are looking to save on fuel or want to do your bit for the environment, an EV novated lease is a smart option.
With a novated lease electric car fbt, the finance and running costs (excluding insurance) are bundled into one simple payment and collected directly from your pre-tax salary each pay cycle. It is known as ‘car salary sacrifice’ and reduces your taxable income, optimising your take-home pay.
No tyres to replace
You can also get a home charging kit as part of your novated lease, so you can save on EV fuel costs even more by charging overnight. You’ll still need to buy petrol for your daily commute, but a full charge on an electric vehicle can take you far enough to drive right past that service station.
EVs have special tires that are designed to be more durable and last longer than those on traditional vehicles. They are also thinner and taller to reduce rolling resistance, which can deplete the battery. If you want to keep an eye on your EV tires’ lifespan, most have a tread indicator that shows when they need replacing. You can also check them by using a penny and placing Lincoln’s head in the tire tread; if you can’t see all of his head, you need new tires.
As a bonus, the FBT exemption for EVs means you can get a $50,000 SUV or hatchback on a novated lease for as little as $160 per week, including finance and all running costs. It makes EVs the affordable choice for most Australian families, especially considering that you can claim all of your running expenses from your pre-tax salary. To find out more, give us a call today. We can help you make the switch to an environmentally friendly EV.
No commercial charging stations
If you’ve noticed a lot more electric vehicles on the road, it’s because Aussies have been snapping them up like crazy lately. It probably has a lot to do with the government’s latest incentives, which have made eligible EVs surprisingly affordable.
For those thinking of switching to an EV, a novated lease electric car fbt could be the best way to go. A novated lease is a salary packaging arrangement that lets you pay for your car and its running costs with pre-tax money. It can make a big difference when it comes to the cost of an EV, especially as they have much lower running costs than petrol or diesel cars.