With a Tesla novated lease, you can enjoy significant financial savings by driving an environmentally friendly car. EVs are FBT-free and exempt from luxury car tax.
In a novated lease, the lease payments and running costs are paid using a combination of pre-tax and post-tax salary (or fully pre-tax for eligible electric cars). It is known as salary packaging.
Tax savings
Tax savings are among the most significant benefits of a Novated Lease for an electric vehicle. It is because the lease payments are deducted from your pre-tax salary, reducing your taxable income and, thus, your tax liability. It can save you thousands of dollars, especially if you are driving an electric vehicle eligible for the FBT exemption.
Use our novated leasing calculator to determine how much you can save. Then you can determine whether an EV Tesla novated lease is right for you. Once you’ve done that, contact us to get started.
A novated lease is an arrangement between yourself, your employer, and a finance company where you pay off the cost of the vehicle through regular deductions from your salary. These payments are made every month for the duration of the lease, which usually lasts 1-5 years. The lease payments and running costs are GST-free and taken from your pre-tax salary, reducing the PAYG you must pay weekly.
An additional benefit of a novated lease for an electric vehicle is that the running costs are significantly lower than those of traditional petrol and diesel cars. Electric vehicles don’t need oil changes or engine tune-ups, and fuel costs are much lower. In addition, EVs are often exempt from luxury car tax, which can further lower your running costs.
To calculate the total running costs of an EV Tesla novated lease, add up the lease payments and the annual registration, servicing, insurance, and tyre costs. Then compare this with the price of a traditional car loan and an outright purchase. You’ll soon see how an EV Tesla novated lease offers significant financial savings.
Lower running costs
As well as the GST tax credits and FBT exemption, a NovatedEV Tesla novated lease can save you money in other ways. For example, a lease uses your pre-tax income to pay for the car’s finance and running costs, which reduces your income tax payable. It can save you thousands in taxes.
Additionally, EVs are cheaper to run than traditional petrol-based cars. It is because they do not need oil changes or engine tune-ups. Plus, they use less petrol than their diesel counterparts, so you’ll save substantial fuel savings.
Another benefit of an EV Tesla novated lease is that it’s exempt from luxury car tax, which can save you even more. A luxury car tax is a government levy applied to vehicles that cost more than a certain amount. Since EVs are priced well below the luxury car tax threshold, they’re exempt from this levy.
Lastly, an EV Tesla novated lease offers several other benefits, including being environmentally friendly. Unlike traditional petrol-based cars, electric vehicles emit no harmful pollutants into the atmosphere. It makes an EV Tesla novated lease the perfect choice for those who want to contribute to a healthier environment.
When you sign up for an EV Tesla novated lease, you must choose a vehicle that meets your budget and driving needs. There are several models to choose from, including the Model S, Model X, and the Model Y. Once you’ve selected your ideal vehicle, you’ll need to enter into a novation agreement with your employer and a novated lease provider. The novation agreement will specify the lease period and the monthly lease payments.
With the Australian Government’s new EV incentive, it’s never been a better time to go green with an EV Tesla novated lease. Contact us today, and we’ll help you find an affordable EV that fits your lifestyle.