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.
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.
We can help employees of fire and emergency services across Australia get a great deal on a novated lease. If your department has an existing salary packaging provider, that's not an issue — you can still save by talking to us
Our expert team works to get a highly competitive novated lease deals for public sector employees, including police, compared to what the main salary sacrifice provider is offering.
"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