A novated lease is a way in which you can obtain a vehicle plus all its running costs like fuel, insurance,
registration and maintenance but packaged through your employer as a ‘salary sacrifice’. A portion is paid from your pre-tax salary, allowing you to turn your tax to your advantage.
Why choose a novated lease?
It is the cheapest and most cost effective way to drive the car of your choice. Whether it’s a new, used or
even your existing car and this can be for your personal use or even for a family member.
How it works?
1. You obtain a quote for your new car and then contact use for a quote – 02 9453 0300
2. The financier sources the car of your choice including national discount rates
3. Your employer approves the payments
4. Financier arrange delivery of your new car
5. Your car and all its running costs are deducted from your salary in one easy payment
What are the benefits?
Benefits to the Employee/ Driver:
- Still one of the most tax effective methods of reducing taxable income
- Immediate savings: financier claims back the GST on the purchase price of the car. Service and Repairs, benefit from financier volume discounts.
- Peace of mind with financier 24/7 emergency roadside assistance and accident management
- Paperless quote and approvals process
- Convenience of a fuel card management service
- Lease term flexibility to match budget requirements
- Lifestyle benefits, *employees can select their vehicle of choice
- Convenience of a consolidated payment straight from payroll
- Employee budget management.
Benefits to the Employer:
- Cost neutral to the business offering offers a Salary Packaging Service whereby we will administer all billing cycles – weekly, fortnightly and monthly
- Eliminate FBT via the Employee Contribution Method (ECM)
- Reduction in Payroll Tax
- Paperless approvals process
- Can manage all novated queries on behalf of the Employer
- FleetPartners can integrate with the customer’s payroll
- A complete FBT and GST management system
- Car is not a business asset (i.e. if the employee leaves, the car/ lease follows them).
“ I had a seamless and trouble free end to end experience. The various people I dealt
with throughout the journey were professional, courteous and extremely helpful. Certainly a credit to
the organisation, its reputation and brand.”
Michelle, Business Relationship Manager, novated driver since March 2013
“ It’s always a pleasure dealing with the customer service team. Nothing is too hard
or too difficult for them. Absolute pleasure to deal with. Thanks guys and gals.”
John, Human Resources Manager, novated driver since May 2014
“ I‘ve been very pleased with my novated car lease arrangement. I particularly appreciate the regular statements which enable me to see how I am tracking and the swift refund of expenses as required. Thank you.”
Andrew, IT Officer, novated driver since September 2012
“ I was very impressed when you were able to beat my quote that I obtained through
a different provider by over massive $90 a fortnight. This meant I would save over $2300 per year
which I was obviously over the moon about.”
Amy, Digital Marketing Specialist, novated driver since July 2014
Get in touch with your nearest Commercial Point Finance Broker to discuss how we can he you novate your next car – 02 9453 0300.