A Tesla Model 3 SR+ is more affordable than a Corolla Hybrid Sedan/Hatch.
The new Australian Government tax legislation has made EVs under $84916 FBT exempt or tax-free on a Novated Lease.
Watch the video below to see how this works.
As of 1 July 2022, the Fringe Benefits Tax (FBT) exemption for electric vehicles, including Tesla cars, applies to novated leases in Australia. The FBT exemption is aimed at promoting the adoption of environmentally friendly vehicles.
Under the FBT exemption, if an employer provides an electric vehicle, such as a Tesla, to an employee through a novated lease arrangement, the employee may be eligible for certain tax benefits. The employee’s taxable income can be reduced due to the FBT exemption, potentially leading to lower overall tax liability.
However, please note that tax laws and regulations can change over time. It is always recommended to consult with a qualified tax professional or financial advisor for the most up-to-date and accurate information regarding FBT exemptions and novated lease arrangements for Tesla or any other vehicle.