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.
If you choose a novated lease on your next vehicle purchase, the Employee Contribution Method (ECM) can help you reduce your overall costs even further. How to Take Advantage of the Employee Contribution Method In May 2011, the federal government made changes to the operation of the Fringe Benefit Tax (FBT). As a result of these changes, employees who take out novated leases are liable to pay more in FBT to offset the tax savings they make through salary packaging. The ECM allows you to recoup some of the extra FBT that you would otherwise have to pay under this new arrangement. It enables you to reduce your FBT by contributing a portion of your net salary towards the cost of running your vehicle. Every (net) dollar you spend towards fuel and other running costs reduces your payable FBT by a dollar. FBT is calculated at the highest end of each tax bracket. This means that, unless your taxable income places you at the high end of the bracket, using your net income to offset Read More
Need a new work ute? Perhaps the new Ford Ranger XL is the car for you. In this video Steve Colquhoun of drive.com.au reviews the latest Ranger XL. Here’s what he had to say. The Ranger XL: Combining Comfort and Power Aussie designed and engineered, the Ford Ranger comes with a choice of two diesel engines and one petrol unit. Here Steve is driving the XL model, a 3.2-litre 5-cylinder turbo diesel. The Ranger is strong and flexible, and, says Steve, lacks the harsh rattling sound of some of its competitors. The big, flexible cabin boasts five wide seats and plenty of leg and head room in the back. It is well insulated from road and engine noise and is suited to families or work-crews. The Ranger turns corners without any significant body roll. There is a choice of a six-speed manual or a six-speed auto. The manual shifting is light to the touch and intuitive. The chunky dashboard was inspired by power tool design, making the instrumentation clear and Read More
Vehicle is going great. We can’t thank the staff at Fleet Network enough for their support and assistance during the process of leasing the vehicle and then what eventuated after that. Special thanks to Sasha for her all of her help. She kept us continually updated on the vehicle. She also helped us out with an unexpected issue with the vehicle upon delivery and without her assistance we would have had to delay a planned holiday. We would also like to thank you Carole for your support with the fuel voucher and other matters relating to the vehicle. You were in regular contact and that was and is appreciated. I will definately recommend Fleet Network to colleagues considering leasing a vehicle in the future. Thanks again, Mark and Sheri
Offering salary sacrifice options such as novated lease vehicles to your employees can improve satisfaction levels in your organisation as well as presenting tax benefits. What You Need To Know Salary packaging can help employees feel valued and improve appreciation levels, especially when you offer options such as novated leasing that can make new car purchases more affordable and convenient. If you’re interested in setting up novated leasing arrangements for your employees, get in touch with a salary packaging provider to find out more. You should also provide your employees with a link to the provider’s website so they can have any questions answered. Benefits Of Novated Leasing For Employers These three-way arrangements are beneficial for all parties involved. Employees can avoid paying GST on new vehicle purchases, while employers can benefit from increased performance, attendance and other factors associated with improved staff satisfaction. Other advantages of novated leases for employers include the ability to claim input tax credits on GST paid as well as income tax deductions, and you will Read More