Different employees have different needs and vehicle requirements. If you are interested in Salary Packaging your next vehicle a great place to start is our Salary Packaging Calculator. The calculator will provide an accurate guide as to the cost and saving that can be achieved.
Case Study 1
Paul is a Team Leader for a financial institution and is on a salary of $55,000 per year. Paul and his partner have just had their first child and want a safe and reliable new hatch. Paul has chosen a new Mazda 3 hatch for $23,990. Paul lives close to work and only travels 12,000kms each year. He wants to salary package this vehicle over 5 years including all running costs.
Results – The new vehicle will cost Paul $130 per week including his finance, fuel, tyres, insurance, registration and all services. Paul will save $1280 in income Tax and $303 in GST giving him a tax saving of $1583 per year or $7915 over the lease term.
Case Study 2
Jennifer is a Senior Manager in a Government Department and is on a salary of $145,000 per year. Jennifer is wanting to do more outback travelling with her partner. She is wanting to buy a new Toyota Prado diesel wagon but would like to replace this vehicle after 4 years. Jennifer averages her required travelling each year at 25,000kms.
Results – The new vehicle will cost Jennifer $320 per week including her finance, fuel, tyres, insurance, registration and all services. Jennifer will save $3,430 in income Tax and $810 in GST giving her a tax saving of $4,240 per year or $16,960 over the lease term.
Case Study 3
Jo has just started her first nursing role out of University and is keen to get a new reliable vehicle. She has chosen a new VW Polo for $15,990 and travels only 10,000kms per year. Jo’s current salary is $45,000 per year.
Results – The new vehicle will cost Jo $97 per week including his finance, fuel, tyres, insurance, registration and all services. Jo will save $1,118 in income Tax and $259 in GST giving her a tax saving of $1,377 per year or $6,885 over the lease term.