Novated Lease Calculator
Novated Lease Calculator Australia helps you estimate your car lease payments, potential tax savings, and total costs. Whether you’re comparing lease options or planning your next vehicle, this calculator gives clear and accurate results for Australian employees.
Lease Details
Your Results
Savings Breakdown
What is a Novated Lease?
Novated lease is a tripartite agreement between you and your employer and a finance company. Lease payments by your employer are made using your pre-tax income and thus they may largely cut down on your taxable income and boost your take-home pay.
In this structure, as well as, you can fund a vehicle and possibly save on income taxes, GST and other expenses incurred in owning a vehicle./p>
Key Benefits
- Pay for your car and running costs from pre-tax income
- Potential savings on income tax
- GST savings on vehicle purchase and running costs
- One convenient payment covering all vehicle expenses
- Possible access to fleet discounts on vehicles
- Flexibility to include insurance, maintenance, and fuel
How It Works
- Choose your vehicle and negotiate the price
- Your employer agrees to the novated lease arrangement
- A finance company purchases the vehicle
- Your employer makes payments from your pre-tax salary
- At the end of the lease, you may have options to purchase the vehicle
- All running costs are bundled into the lease payment
Important Note
Our Novated lease calculator is just an estimate value Calculator . Your real savings will be determined by your personal situation, tax rates and your lease contract. Before the novated lease agreement is entered, it is advisable that a person consults a financial advisor or tax professional. The results do not constitute financial advice.
Note: Fringe Benefits Tax may apply in some situations and could affect your overall savings.