We can help some members of the fire and emergency services get a great deal on a novated lease, even if your employer has an existing salary packaging provider.
What are the benefits of a novated lease for emergency services employees?
- The vehicle you novate can be used 100% for personal use.
- Finance a new or used vehicle to suit your needs.
- Enjoy a saving of up to $6,334 in GST on the purchase price of the vehicle, plus accessories.
- Use your pre-tax salary to make your lease repayments (i.e. salary sacrifice your vehicle).
- Use your pre-tax salary to cover vehicle running costs too.
- Enjoy a GST saving on regular car running costs.
- Pay $0 fringe benefits tax on eligible electric or plug-in hybrid cars up to the Luxury Car Tax threshold.
- Your lease can be transferred to a new employer if you change jobs
Emergency services novated lease savings example
You may be wondering what the novated lease tax savings could add up to.
Let's imagine an emergency services worker getting a Tesla Model 3 RWD with a purchase price of $66,100 and a finance term of five years. The example includes vehicle running costs (servicing, insurance, tyres and registration).
As you can see, the savings with a novated lease can be significant compared to buying that same vehicle with a car loan, or even paying for it outright with cash.
We've assumed a driver in NSW with an annual pre-tax salary of $120,000 with car running costs based on 15,000kms driven annually. The car loan interest rate used in the comparison is 7.5% p.a.
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Get a great deal on a novated lease
Find a great dealNo FBT for EVs and PHEVs
An increasingly popular option for members of the fire services we work with is to novate a zero or low emission vehicles. This is due to the generous fringe benefits tax (FBT) exemption that applies. It means there is $0 FBT to be paid by you or your employer which adds up to thousands of dollars in extra savings.
You can view a full list of the vehicles that are eligible for the FBT exemption to see what options are available.
How can Novated Lease Australia help emergency service workers?
Depending on the situation, we may be able to help employees of fire and emergency services across Australia get a great deal on a novated lease, even if your department has an existing salary packaging provider.
This is called a self-managed novated lease, with the same benefits and potential savings.
Our expert team works to secure highly competitive novated lease deals for public sector employees, compared to what other salary sacrifice providers offer.
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"The other companies were quite satisfied in quoting excessive costs and simply failed to follow up in a prompt manner, if at all. NLA, Eddie and their support team have been excellent to deal with and all in all I have had a very easy and painless introduction to novate leasing. I have no hesitation in recommending NLA and Eddie." - Chris Kalmar
Here's what we can do for you
- Securing Finance and Sourcing Cars: Calculating the novated lease finance costs, shopping around for lease finance among multiple specialist lenders, and helping you find a car by leveraging our relationships with dealerships to negotiate the price.
- Initial Education: Explaining to you the benefits of a novated lease, helping you to maximise your tax benefits, including advising on FBT exemptions (e.g. for electric vehicles) and advising you on estimates only for your running costs.
- Set-Up Support: Guiding you from the initial quote through to settlement of your lease, as well as providing the final signed novation and lease agreements to you to provide to your salary packager.
- Handling Novation & Lease Agreements: Preparing the novated lease documentation for you and your employer's salary packaging provider to arrange signing. In most cases, though, you will need to source the Salary Packager’s agreements or documents directly from them to complete them yourself.
Get a great deal on a novated lease
Find a great dealWritten by
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CEO
Bevan Guest
Reviewed by
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Editor
Sean Callery
