Learning how to salary sacrifice in your Perth workplace could lead to significant savings on a new car and the associated expenses, as well as having significant tax benefits.
What is vehicle salary sacrifice?
Company car schemes can be cost-effective ways for people to obtain new cars without having to deal with all the financial considerations of purchasing their own vehicles. Buying a vehicle through salary sacrifice in Perth under a novated lease is also a great way to avoid paying tax on your car purchase.
In vehicle salary sacrifice arrangements, employees take a reduced salary with the deducted value going towards the purchase of a new car. Because this purchase is made before statutory deductions, employees can receive cars at greatly discounted prices, and will be free to keep the cars even if they change their job. Vehicle salary sacrifice can be undertaken by employees of private companies and governments.
Salary sacrifice benefits
More employees in various sectors are taking advantage of vehicle salary sacrifice in Perth, which works out much cheaper in the long term than buying cars privately or arranging private rental. Depending on your arrangement with your employer, you may also be able to claim back expenses when the vehicle is used in the line of work.
Novated leasing across Australia
Fleet Network offers novated lease vehicles in Geraldton, Broome, Perth and areas all across Australia, working with employers and sponsoring organisations to provide taxable deductions to car buyers. Call(08) 6555 3854 to find out more about salary sacrificing in Perth.