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A good starting point for employers who agree to offer Novated Leasing is to draft an administration manual to guarantee that all parties are on the same page. Most fleet management companies have gone one step further and issue these agreements for both the employer (company set-up forms) and employee (employee packaging agreement). So a fleet management company can take all the hassle out of implementing a successful Novated Lease arrangement.

The company set-up and employee packaging agreement forms for a Novated Lease agreement ensures that all parties that are going to get involved in the process, clearly understand and agree on the terms of what has been proposed, and that the payroll and finance departments understand what is expected of them and have signed off on it.

Compliance is one of the biggest pitfalls for companies starting a new Novated Lease program, the biggest problem is that companies managing their employees Novated Lease's internally, is that they haven't been keeping proper substantiated documents. Fleet management companies take care of all the necessary documents, via monthly reports and annual FBT reports, this is all the employers need if ever audited.

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