Novated Leasing has become a very popular method of financing a motor vehicle for Australians.
The Aussie Chief has all the answers to your Novated Leasing questions...
Novated Lease Chief
We are committed to providing our customers with access to the best Novated Lease finance across Australia. Our primary goals are outlined below:-
- To produce high quality "up to date" Novated leasing information.
- To give you access to professional and experienced finance brokers.
- We use the world wide web to make this happen.
New Car Discounts
Fleet Discounts
"Buying a new car should be an exciting and pleasurable experience" The Aussie Chief explains. Read more...
New Car Discounts
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Novated Lease Cars
Novated Lease Cars
New Cars, Used Cars, Private Sale Cars? How do these work with a Novated Lease? Read more...
Novated Lease FAQs
Novated Lease
You have the Novated Leasing questions? The Aussie Chief has all the Novated Lease answers.. Read more...
Other Finance Options
Car Lease
A Car Lease (also known as a Finance Lease) enables a individual or business to have use of a motor vehicle. Ownership remains with the finance lender until the residual is paid in full. Visit 1300 Car Lease...
Hire Purchase
Commercial Hire Purchase is a business finance product where the customer hires a motor vehicle from the finance provider or bank for a set monthly repayment over a set term. Visit Hire Purchase Chief...
Car Finance
Instant online car finance quotes for all finance options including Commercial Hire Purchase, Chattel Mortgage and Car Lease. Visit Car Finance Chief...
Novated Lease Options
Novated Lease
Novated Lease finance is a 3 way agreement between the employee, the employer and the financier. Read more...
Fully Maintained Novated Lease
A fully maintained Novated Lease is a motor vehicle package which includes all the running expenses such as car insurance, vehicle registration, petrol etc. Read more...
Novated Bike Lease
Yes you can now do a Novated Bike Lease! The Aussie Chief has all the information and can put you in touch with a Novated Bike Lease finance broker today. Read more...
Novated Operating Lease
A novated operating lease has no residual risk, the employee simply hands the motor vehicle back to the finance provider at the end of the car lease. Read more...
Fringe Benefits Tax
Novated Lease FBT
How does Fringe Benefit Tax or FBT relate to a Novated Lease? How is FBT calculated? and what is an employee contribution? The Aussie Chief explains it all. Read more...
Featured Finance Brokers
Car Loans
Advance Car Loans
- Premium Car Finance Broker
- Low interest rates Australia wide
- No establishment fees
- No payout penalties
- Experienced and friendly staff
- Call 1300 554 553
Private Sale Cars
Purchasing a car privately can save you a few dollars. If you are considering financing your private sale car purchase via a novated lease agreement, there are a number of things to consider.
Benefits
- Normally larger savings than purchasing from a car dealer
Disadvantages
- Normally no manufacturers warranty
- No guarantee of title
- No history of how the car has been driven
- If no service logs available a engine check would be recommended
Taxation Implications
Where the amount financed is below the Depreciation Limit ($57,180), the employer claims the novated lease payment as a business expense. Above the Depreciation Limit, they claim the interest charges and depreciation up to the value of the Depreciation Limit ($57,180).
The amount financed is the purchase price of the private sale vehicle. As it's a private sale, there is no GST claimable from the finance provider.
GST is also charged on the residual value on the lease, and as the Novation reverts back to the employee at the end of the lease, the employee is responsible for paying the GST on the residual.
GST is charged on the monthly novated lease payment and as long as the employer is registered for GST, they can claim this back on their BAS.
Want to find out more?
Complete The Aussie Chief's friendly enquiry form and we'll get an experienced novated lease consultant to call you within a few hours. What could be easier?
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