FleetNetwork packages motor vehicle solutions - we supply the vehicle with the novated or operating lease finance, or we organise for the vehicle to be placed within your personal salary package.
We can offer a number of different lease structures for your vehicle. Your choice will depend on which best suits your circumstances. Two of the options we can offer you:
A fully maintained novated lease
You pay one monthly amount which covers all the vehicle costs, i.e. vehicle lease rental, full scheduled maintenance inclusive of tyre replacement, 24-hour roadside assistance, relief vehicle and registration renewals. A fuel card is issued with this lease.
A non maintained novated lease
You pay a monthly rental which covers only the vehicle. You are responsible for all other costs, i.e. fuel, insurance, license and maintenance - you may include these amounts in your salary package pre-tax deductions and review and adjust these costs when appropriate.
Other benefits include:
- You have the option of being issued with a fuel card;
- No reportable fringe benefits on employee PAYG payment summaries; and
- Using ATO-approved methods of FBT saves you money and means your employer does not need to complete FBT returns and FBT instalments.*
Don't fall into the trap of believing that only individuals on large incomes can benefit from salary packaging a vehicle. We design vehicle packages to benefit all drivers regardless of their income.
We are confident we will surprise you by demonstrating how economical it can be to own a much better car than you had ever thought possible. Why settle for the base model, when you could have a fully optioned, top of the range vehicle without it costing you more?
* Subject to a vehicle being driven the required amount of kilometres specified by the Australian Tax Office.
Example 1:
| Potential savings on a motor vehicle costing $35,000 placed within a salary package using a novated lease and including superannuation contributions of $2,600 per annum based on a salary of $50,000. | |||
| With Packaging | Not Packaged | ||
| Annual Income | $50,000 | $50,000 | |
| Less pretax contribution with a novated lease | $8,424 | ||
| Less pretax contribution to employee superannuation * | $2,600 | ||
| Less administration fee | $380 | ||
| Gross income | $38,596 | $50,000 | |
| Less new income tax and Medicare Levy | $8,502 | Less income tax and Medicare Levy | $12,116 |
| Less employee post-tax contributions for motor vehicle running costs | $3,850 | Less full motor vehicle running costs | $12,274 |
| New take home income | $26,244 | Take home income | $25,610 |
| Annual saving per annum through salary packaging | $634 | ||
Example 2:
| Potential savings on a motor vehicle costing $35,000 placed within a salary package using a novated lease and including superannuation contributions of $5,200 per annum, based on a salary of $100,000. | |||
| With Packaging | Not Packaged | ||
| Annual Income | $100,000 | $100,000 | |
| Less pretax contribution with a novated lease | $10,608 | ||
| Less pretax contribution to employee superannuation * | $5,200 | ||
| Less administration fee | $380 | ||
| Gross income | $83,812 | $100,000 | |
| Less new income tax and Medicare Levy | $27,615 | Less income tax and Medicare Levy | $40,690 |
| Less employee post-tax contributions for motor vehicle running costs | $5,512 | Less full motor vehicle running costs | $16,106 |
| New take home income | $50,685 | Take home income | $43,204 |
| Annual saving per annum through salary packaging | $7,481 | ||
* Your superannuation fund will deduct contributions tax of 15% from your superannuation contributions.
For Employees
Salary Packaging - do you qualify?
- Do you have a permanent contract with a minimum period of 12 months employment remaining?
- Do you work for an organisation which offers its staff the option to salary package part of their remuneration?
If you answered "yes" to both questions then you should contact one of our consultants today on 1300 738 601 or via our email enquiry form for a no-obligation consultation.
If your employer does not currently offer salary packaging to staff, we would be delighted to talk with your human resources department or management team to explain the benefits salary packaging provides.
For Employers
Employers also benefit from offering salary packaging to staff:
- No cost to offer this facility to staff - we would set up the entire salary packaging program for your organisation.
- Offers your employees an immediate pay rise via benefits paid in pre-tax dollars. This is at no additional cost to the company.
Simple examples:
Company Executive earning $100,000 p/a. You could deliver a pay rise of up to $20,000 p/a.
Company employee earning from $30,000 - $50,000 p/a. You could deliver a pay rise of up to $8,000 p/a. - The cost of FBT compliance to your organisation can be reduced dramatically by our use of ATO-approved packaging formulas.
- Offers you an effective tool for retaining valued employees.
- Potential $2,000 - $5,000 savings per employee per annum in financial on-costs.
- Further enhances your organisation's attractiveness to potential employees.
- Further complements any existing management programs you have in place.
For further details, please complete our enquiry form.