A novated lease is an agreement between an employer, employee and a financier where the employer leases a vehicle in the employee’s name from the financier. Often, the expenses of running a vehicle are included in the lease payments. A novated lease makes an attractive addition to a salary package and is an ATO approved structure.
What are the benefits
of a Novated Lease?
The most popular benefit of a novated lease is the ability to make lease payments from your pretax income, resulting in potential savings on your tax return. You will have full control over which vehicle you choose and if you decide to leave your job during the term of the lease, you will have the option to take the vehicle and the lease with you.
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