Even if your employer does not operate salary sacrifice arrangements, you could still make use ofnovated leasing to buy your own vehicle.
Salary and Employment Considerations
Novated leases may not be suitable for everyone, but if your salary is in a higher tax bracket, it can make financial sense to buy your new car using a tax efficient novated lease. The type of job you do may also inform your decision, as the tax benefits of novated leasing can make it especially advantageous for people who are required to drive frequently in their line of work, as you will be able to claim fuel, maintenance and other costs as taxable expenses.
How to Arrange a Novated Lease
The easiest way is to arrange a novated lease through employers, which involves signing a Deed of Novation and Salary Package Quotation in which you agree to sacrifice part of your gross salary towards payments for your new vehicle. Employers work with financiers to arrange the most cost effective price in a mutually beneficial arrangement. If your employer does not operate novated leasing or salary packaging however, or you are self employed, you will be able to get in touch with financiers directly.
How to Salary Sacrifice
If you want to find out more about novated leasing in Geraldton or other types of salary packaging in Perth, Mandurah and Albany, contact Fleet Network on 08 6555 3854. Fleet Network offers affordable vehicle purchasing, as well as fuel cards and other benefits