Novated Lease

A Novated Lease is the most cost-effective way to acquire and run a car if you are a PAYG employee.

It’s a three-way agreement between you, your employer and SupaLease. A ‘Novated Lease’ allows an instant discount of your new car – you don’t have to pay GST on the purchase price of the vehicle.  This instantly saves you thousands of dollars.

You can include all the operating costs of the car including fuel, registration, maintenance, insurance of the car which increases further savings.

The employee can salary-sacrifice these costs towards the cost of their vehicle and these are paid from the employee’s pre-tax salary (gross salary ex-super).

These associated expenses associated with running the vehicle are updated in real time, which allows the driver to keep up-to-date on all costs. SupaLease manages all the payments on your behalf so you’re never out of pocket.

It’s similar to other forms of vehicle finance whereby there are a number of payments over a fixed term with a residual/balloon payment due at the end of the term.

The Employer

Agrees to make regular, automated payroll deductions from the employee’s pre-tax salary (ex super). Our SupaLease team will help you set everything up.

The Employee

Agrees to pre-tax salary deductions, in exchange for the use of the vehicle. The vehicle can be used for business or entirely for personal use. It’s up to you.

If you change jobs, you get to keep the car and SupaLease can transfer to your new employer.

SupaLease

Procures the vehicle, establishes the lease and manages the administrative, contractual and compliance aspects of the transaction.

• A Novated Lease allows you offer a vehicle as part of a salary package
• The employee is responsible for the vehicle’s upkeep, leaving you free to concentrate on your business

Call us to find out more: 1300 668 283