The Tax Benefits that Come with a Novated Lease
Is your car getting older?
Perhaps you are thinking about upgrading?
With your busy schedule and the idea of taking out a car loan, it all seems too hard.
Vehicle Solutions is Australia’s most trusted lease provider for government and private employees. It provides a quick and straightforward way to assess your options for leasing your brand new car. It includes a range of tax benefits and GST savings through a unique vehicle salary package using our innovative vehicle leasing system. Vehicle solutions through Novated leases offer simple, competitive and transparent lease options Australia-wide with substantial tax benefits through this unique program.
Novated leasing processes let you pay your chosen vehicle expenses before taxes, and this means that you pay less tax overall and have more money in each pay.
Convenience is an essential aspect of Novated Leasing as most expenses can be paid on a handy fuel card. There is no more need to spend out-of-pocket money on unexpected car service, insurance or registration bills as these are all built into the contract. You can also use our calculator and download a fact sheet to understand precisely how Salary Packaging can save you thousands on driving your car. To use the calculator, you only need to enter a few simple details, and you can get a quick quote immediately with no personal information required.
How does this work?
The leasing company pays the dealership with the GST included in the purchase and claims the total amount which means that you are financing the car GST exclusive. As what you have is salary packaging through your workplace, the GST is claimed by your employer, and the savings are passed on to you. Note: This is an ATO Guideline used by all salary packaging companies.
What is included in my Novated Lease?
The Australian Tax office allows anyone with a taxable income and a willing employer to participate in a car novated lease agreement and all of the grunt work gets completed by your fleet provider (Vehicle Solutions).
Once you have settled the paperwork, all you have to do is enjoy the savings and the convenience.
You can also lease other vehicles that meet the ATO’s definition of a motor vehicle, e.g. cars, utility trucks, load carrying vehicles (less than a tonne) and vans that carry less than nine passengers. (With our expert team we can provide the best rates in the current market place).
Your lease will also include a fuel card that gets loaded with an allowance and is incorporated within the weekly lease payments paid by your employer.
Additionally, all of your servicing, maintenance, registration and tyres are part of your all-inclusive lease.
On-road insurance: With a car novated lease, Vehicle Solutions take care of your insurance.Free time: A car novated lease allows you to take the time to enjoy yourself instead of worry about your payments.
Peace of Mind
Call our friendly team at Vehicle Solutions today or use our Novated lease calculator to see how you can benefit from the tax breaks and peace of mind associated with a Novated Lease.
Why wouldn’t you!