Salary Sacrifice Car Finance-Australia
Easy online Novated Leasing now available.
It's even easier to get the ball rolling for you with our simple online Novated Leasing Car Finance application form. It takes about 5 minutes to complete the application form and once submitted we'll have an answer back to you within 24-48 hours.
Salary Sacrifice - Novated Leasing.
What is Salary Sacrifice?
Salary Sacrifice or a Novated Lease is a three way agreement between an employer, an employee and a Finance Company. The employer has an obligation to make the repayments from an employee's pre-tax salary, the ownership of the vehicle is however retained by the employee.
A Salary Sacrifice/Novated Lease Agreement means the vehicle is owned by the employee, and the employee can have the right to take the lease with them, if they leave their current employment.
A properly structured Novated Lease will also have tax benefits for an employees salary package.
Benefits of Salary Sacrifice for the employee:
- Choice of Vehicle
- The finance on the vehicle can be paid with pre-tax income
- Can be used for 100% private use
- With employer approval, more than one vehicle may be leased
- The employee has the option to own the vehicle at the end of the novated lease term
Benefits of a Novated Lease for the employer:
- A cost effective and easy way to add value to an employee's salary package
- The hassles associated with management and disposal of the vehicle are not the employers responsibility
- If an employee or the Novated Lease is terminated, the responsibility of the vehicle belongs to the employee.
Click on the banner to apply online for your Novated Lease.
Or if you would like more information on Salary Sacrifice please call 1300 99 1000.
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