The Perfect Time to Salary Package a New Car
Thinking about getting a new car? End of Financial Year sales have started and there’s never been a better time to salary package a new car.
Through your Employer’s association with Simplygreen Salary Packaging, you can now take advantage of manufacturer EOFY incentives and bonuses as well as receiving significant tax savings available when you salary sacrifice a car. This means huge savings for you!
Car manufacturers have jumped at the opportunity to offer EOFY discounts due to increased competition and sluggish sales. Be mindful, many deals will finish at the end of June.
This year, carmakers have taken a creative approach to EOFY sales. Aside from the traditional discounting or cashback incentives, we’re seeing a number of different bonuses being introduced to attract new buyers. This includes;
– Free upgrades (eg. manual to auto or petrol to diesel)
– Free Servicing
– Free roadside assistance
We’re expecting to acheive substantial discounts on new and run-out models over the next 6 weeks, with discounts topping 20% off the RRP in some instances.
Why salary packaging?
A novated lease is one of the most cost effective ways of purchasing and running a new car. That’s because the lease repayments and vehicle running costs can be included as part of your salary package and paid for using pre-tax salary. Using pre-tax salary to pay for your vehicle expenses reduces your taxable income and ultimately means that you pay less tax every year!
Vehicles salary packaged under a novated lease arrangement typically attract Fringe Benefits Tax (FBT). However, as vehicles are concessionally tax under the FBT Act, a novated lease is often the most tax effective way for an employee to purchase and maintain a motor vehicle.
To obtain a free, no obligation Vehicle Salary Package Estimate, please email firstname.lastname@example.org or call 1300-664-323.