What is a novated lease?
A novated lease is a salary packaging option that lets you pay for a new or used car and its running costs from your pre-tax salary. It’s a three party agreement between an employee, their employer, and Fleetcare.
Novated leasing gives employees access to concessional rates of tax not available via traditional car financing models. By salary sacrificing the vehicle purchase price and running costs, employees can reduce their income tax and gain access to GST savings on the vehicle purchase price, fuel, servicing, tyres, and more.