Novated Calculators

Novated Lease Comparison Calculations
This calculator compares the cost of: (1) not packaging a novated lease vehicle, (2) packaging without using Employee Contributions to FBT, and (3) packaging with Employee Contributions to FBT for vehicles below the luxury car tax limit. The objective is to work out whether you could save money by novating the car of your choice, and what the best structure is for you. Note that you should always seek independent tax advice before proceeding with a novated lease arrangement.
Enter data below in the highlighted cells from the ‘Year’ column on your Fleetcare Salary Package Schedule. If you don't have a Fleetcare Salary Package Schedule, please contact us using the details above.
1. Car Expenses 2. FBT Information
Lease Charges $ Base Value of Vehicle $
Scheduled Maintenance $ Annual Kilometres  
Unscheduled Maintenance $
Fuel Cost $ 3. Salary Details
Registration & CTP $ Your Annual Gross Salary $
Insurance $ (exclude your employer's super contribution and any other salary sacrificed items)
Fleetcare Management Fee $
Establishment Fee $
Total Car Expenses (GST-exclusive) $
Add: GST if applicable* $
Total Car Expenses Payable $

*GST is only applicable where the vehicle was purchased before the introduction of GST or where the emplyer can not claim input tax credits on your vehicle expenses. Please confirm with your company's vehicle policy.

Outcome

 No Packaging Salary Sacrifice Only Package With Post Tax Employee Contribution
1. Car Expenses  
Total Car Expenses (GST-exclusive)
Add: GST if applicable
Total Car Expenses Payable
2. FBT Payable
Base value of car N/A
Multiplied by statutory fraction  
Gross taxable value
Less: Post-tax Employee contributuons
Taxable value
Multiplied by gross-up rate
Grossed-up taxable value
Multiplied by FBT rate
Taxable value/FBT payable
3. GST on Post-Tax Employee Contribution
Value of employee contribution N/A
Divide by GST rate
GST on employee contribution
4. Disposable Income
Gross Salary excl employer super & other pre-tax deductions
Less: Salary Sacrifice Amount (1) + (2) + (3)
Gross Salary
Less: PAYG incl Medicare Levy
Income After PAYG & Medicare Levy
Less: Car Expenses Payable
Less: Employee Contribution (inc GST)
Net Disposable Income (2008/2009)
Saving Compared To Not Packaging
The greater the saving, the better the arrangement is likely to be for you*
Annualised Kilometres
26% 0 - 14,999 kms
20% 15,000 - 24,999 kms
11% 25,000 - 39,999 kms
7% 40,000+ kms
2008-2009
Rates of PAYG tax including 1.5% Medicare Levy:
Taxable Income Marginal Rate
6,000 16.5
34,000 31.5
80,000 41.5
180,000 46.5
* Disclaimer: Fleetcare Pty Ltd, its directors, employees and consultants believe that the information contained in this document and/or attachments is correct and that any calculations, estimates, conclusions or recommendations contained in this document are reasonably held or made as at the time of compilation. However, no warranty is made as to the accuracy or reliability of any calculations, estimates, conclusions or recommendations (which may change without notice) or other information contained in this document and, to the maximum extent permitted by law, Fleetcare Pty Ltd disclaims all liability and responsibility for any direct or indirect loss or damage which may be suffered by any recipient through relying on anything contained in or omitted from this document.
© Fleetcare 2007