Novated leases have become increasingly popular over the last few years, offering advantages to both employers and employees. Fleet Network explains how novated leases work and the benefits to both employees and their employers. What is a Novated Lease? A novated lease is a three-way agreement for a new car between you, your employer and a finance provider/leasing company such as Fleet Network. Your employer will pay the lease payments, registration, fuel, insurance and maintenance costs of the vehicle directly from your pre-tax salary. This will result in tax savings for you, as your own taxable income will be lower. Employee Benefits of a Novated Lease Novated leases provide: A significant tax saving All the car running costs are included in your regular repayments, makes budgeting easy Freedom to select the car you want – used or new You don’t pay GST on the purchase price or the running costs There’s no limit on the KMs you can drive, all you have to do is estimate how many KMs Read More
Teachers have been making their pay go further by salary packaging their cars for decades. Teachers and most education staff are allowed to salary package a percentage of their salary into items such as computers, self-education and cars. This is a great benefit and one that Fleet Network can explain in detail if you are unsure of the process or the benefits. Fleet Network has helped teachers all over Australia package the car of their dreams. The process is really simple: You find the car that you love Contact Fleet Network They’ll put together an obligation free quote and show how much tax you can save If you would like to progress, they will contact your employer to sign the Deed of Novation and set up the deductions direct from your salary. Simple! So give Fleet Network a call today on 1300 738 601 and see how they can help you save thousands on your next new car.
Fleet Network has salary packaged cars for hundreds of Australian Defence personnel over their 20 years in the industry. We look after members of the Army, Navy and RAAF in varying positions, incomes and locations – from bases in Queensland and New South Wales, to barracks in Canberra, Perth and Darwin. Salary Packaging (also known as salary sacrificing) is an automatic benefit of working in the Defence Force. Fleet Network is experienced in working around deployments and military training rosters, and our aim is to provide seamless, convenient and prompt service. If you want to salary package a car, deal with the real experts in salary packaging and get the car you want for the right price, without any hassles.
A novated lease arrangement provides significant benefits to both employers and employees. Employers commonly use it as part of their salary packaging arrangement. This enables them to extend significant financial benefits to the employees with the business incurring little or no cost. How Novated Leasing Works lf the employer offers novated lease as a salary package option, then the employee can select the vehicle that suits his or her lifestyle, the make and model, used or new, wagon, or sedan without the restrictions imposed by traditional company fleet. The employee purchases the vehicle and also enters into a finance agreement in his or her name. The novation agreement is signed by the financier, the employer, and the employee after the purchase of the vehicle. The employee agrees to sacrifice a portion of the salary or earnings in lieu of the benefit of the car which is equal to the same amount. ln this type of an arrangement, the lease payment, vehicle running costs and the vehicle and the fringe benefits Read More
Have you ever wanted to know the answer to the question “what is salary packaging?” This video will show you examples of how Novated Leasing works and how it can help you get your dream vehicle. You’ll learn how it can be more affordable to use novated leasing than to take out a loan at the bank. For more information, you can call us at Fleet Network on 1300 768 601. We help people get their dream cars through salary sacrifice in areas like Perth in Western Australia as well as New South Wales, Queensland and the Northern Territory, all across Australia.