What is a novated lease?
A novated lease is just like a car loan, but you can make the car repayments from your salary. This is often referred to as vehicle salary packaging.
In addition to the car repayments, you can also include a budget for the running costs as part of your vehicle salary package.
What are the benefits of a novated lease?
A novated lease is often the most cost effective way to buy and own a car in Australia today:
Income Tax Savings – paying for a lease from your salary reduces your taxable income, meaning you also pay way less income tax
GST Savings – No GST on the initial purchase price of the car as well as ongoing GST savings on vehicle running costs (such as fuel, servicing, etc)
Fleet Discounts – save up to 10% on the vehicle price through nationwide fleet discounts
Can anyone do this?
Novated leasing is available to everyone!
Some people believe that you need to be a high income earner or travel a lot of kms for novated leasing to work. This is simply not true.
Most workplaces these days allow staff to salary package a car, but if you’re unsure, it’s best to check in with your HR department first to make sure this is available through your workplace
Special End of Financial Year Offer
Simplygreen is running a special EOFY offer. Anyone that places an order for a novated lease through Simplygreen before the 30th of June 2019 receives a $250 gift card and 12 months subscription to simplyRewards (normally valued at $299 per year).