Lower your tax payment.
A novated lease is an easy and cost-effective way to own and run your car as it lets you use pre-tax dollars to pay for the new or used car of your choice.
Your Novated Lease comes out of your pre-tax income, allowing you to:
- Reduce your income tax (PAYG)
- Remove your FBT liability
- Save GST on the vehicle purchase price and all running costs
- Any profit at the end of the lease is tax-free
In addition to the tax savings, your InsideEDGE Novated Lease allows you to enjoy ongoing savings through:
- Fuel discounts
- Fleet prices for servicing and maintenance
- Access to manufacturer’s corporate programs (where applicable)
- Discounts on running costs
- InsideEDGE handling all the negotiations for you
- Allowing for all car costs to be included in payroll deductions
- Servicing, Registration, Insurance, and other costs are managed by InsideEDGE
- Eliminating the complexity of selling your car or trading it in
- Providing ongoing advice
Lower your tax even more.
As part of the Federal Government’s climate policy, a bill to exempt electric vehicles with low-to-zero emissions from FBT (Fringe Benefit Tax) has been approved.
The policy removes the FBT liability on electric vehicles that are Battery Electric Vehicles or Plug-in Hybrid Vehicles, with a purchase price below $89,332, until June 2025*.
If you lease a new EV with a purchase price under $89,332 (excl on roads) the legislation exempts the vehicle from any FBT Liability. Meaning the vehicle and all running costs are paid with pre-tax dollars, reducing your taxable income and leaving you with more money in your pocket.
Are all EVs included?
* Amount of $89,332 is current as of 1st July, 2023. Changes to the legislation are not dictated by InsideEDGE.