A novated lease is a three-way agreement between an employee, employer and the lease company. It is sometimes referred to as salary packaging a vehicle.
There is a common misconception that the employee must be a high income earner and the vehicle should be new (or near-new) and of high value, travelling high annual km's. Many also wrongly believe that the vehicle must be used for work purposes. In fact, the employee can low or mid-income worker, using the vehicle for entirely personal use, travelling 10,000km per year - in most scenarios you can expect a substantial tax saving.
Lease terms from 1-5 years are available, and all running costs are included. Although the lease is for a fixed term, you can easily transfer your novated lease to a new employer during the term if required.
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