Salary Sacrifice - Novated Leasing - Great deals from ACA!
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Salary Sacrifice - Novated Leasing from ACA Car Loans
Salary Sacrifice & Novated Leasing Packages for Australia
What is Salary Sacrifice?
Salary Sacrifice, or to use its correct term, Novated leasing, 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.
Some of the benefits of Salary Sacrifice for the employee include:
- 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
Some of the benefits of a novated lease for the employer include:
- 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.
If you would like to learn more about Salary Sacrifice and Novated Leasing, please call ACA Car Loans.
Call 1300 99 1000
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