ELECTRIC VEHICLES
Electric Vehicles
There’s never been a better time to lease an electric vehicle now that they’re 100% FBT exempt. The automotive industry has clearly decided that electric vehicles are a big part of our planets health and well-being. So get on-board and find out the best way to finance your new environmentally friendly vehicle.
Novated Lease EV discount
You should consider an Electric Vehicle when setting up a Novated Lease as you’ll save tens of thousands of dollars versus other ways of financing a car due to the Federal Government’s Electric Vehicle Discount policy that were introduced on the 1st of July 2022. This is because eligible electric car Novated Leases are exempt from fringe benefits tax (FBT) so you pay for 100% of the cost of the lease, including packaged running costs through your employer using your pre-tax salary.
An electric vehicle is essentially a plug-in vehicle (EV) or a plug-in hybrid electric vehicle (PHEV) and these both qualify as being FBT exempt.
Act NOW – or you’ll miss out!
From the 1 st of April 2025, a plug in hybrid vehicle (PHEV) will not be considered a zero or low emissions vehicle under the FBT law however if you buy an full plug in electric vehicle (EV) the FBT exemptions will still apply until June 2027.
Lock in FBT savings for the term of lease NOW! If you don’t lock it in, you might miss out.
Example: How much could you save with an EV Novated Lease
POTENTIAL SAVINGS
$602 Per Month
$28,896 Total Savings over Term
Indicative calculations based on a Novated Lease over a 4 year term with 38% balloon. Annual employee salary based in NSW is based on $135k with an estimated 12,580 km pa. Monthly repayments represent the amount the employee’s monthly salary will be reduced each month to pay for the Novated Lease. Inclusions: service, maintenance, tyres, rego, roadside, insurance, management and fuel (if required). Vehicle prices are subject to change but calculations are accurate as at 27/08/24.
The benefits of transitioning from combustion
engines to electric vehicles include:
✔ Reduced running costs: The difference in cost between charging an electric vehicle and running a petrol or diesel car is somewhere around 20% less for EV’s. Electric cars have far fewer parts too, which makes servicing a lot cheaper and far less frequent.
✔ Reduced emissions: Our emissions are going in the wrong direction (Australia increased by 0.8% last year) so we need to change our mind-set and get behind transitioning to an EV as soon as possible so Australia becomes greener.
Hot Novated deals this month!
We’ve always got new and used cars at great prices. If you have something in mind, or want us to help find you the perfect vehicle, get in touch and we’ll walk you through your options.
*T&C’s: Indicative calculations based on a Novated Lease over a 3 year term with 47% balloon. Annual employee salary is based on $150k with an estimated 12,850 km pa. Inclusions: service, maintenance, tyres, rego, roadside, insurance, management & fuel (if required). Vehicle prices are subject to change but calculations are accurate as at 27/08/24.
