Fully Maintained Novated Leasing

What is a fully maintained novated lease?

A Fully Maintained Novated Lease is a tax effective form of financing a vehicle. It involves an agreement between an employee, their employer and a financier. This agreement allows a substantial proportion of the vehicle finance and the costs associated with owning a vehicle to be deducted from the employee's pre-tax income

What vehicle running budgets are included?

• Car Finance
• Fuel
• Maintenance
• Tyres
• Comprehensive Insurance
• Vehicle Registration
• Compulsory Third Party (CTP) Insurance
• Australia-wide Road-side Assistance

How do employees benefit from a fully maintained novated lease?

• Pay Less Tax - An extensive proportion of the car expenses are taken from the employee's pre-tax income therefore reducing the amount of income tax they pay.
• Save on GST - An employer is able to claim back a sizable portion of the lease associated GST on behalf of the employee.
• Fixed Payments - The Fully Maintained Novated Lease payments are fixed for the duration of the lease. This allows the employee to avoid large annualised vehicle costs and allows more consistency in their monetary outgoings.

How do employers benefit from a fully maintained novated lease?

• Add Salary Value - The employer is able to provide a service that reduces the employee's taxable income. This results in an increased salary package for the employee without it costing the employer anything!
• Save on GST - An employer is able to claim back a sizable portion of the lease associated GST on behalf of the employee.
• Attractive Staff Incentive - By offering this service as apart of an employee's package, employers are better able to attract quality staff.

What is involved from an employer's perspective?

The employer recovers fixed monthly lease payments from the employee's salary in addition to a portion of the GST on behalf of the employee.

The employer pays the monthly rental to the Fleet Management company.

Which car financing product is right for you?

Deciding on the right car finance option for your situation can sometimes be confusing. commercial hire purchase, chattel mortgage, car lease? are just a few of the car financing options, Platinum Direct Finance can assist with your decision making and make the process simple and easy. Use our "Which car financing option is right for you?" today!

Why use Platinum Direct Finance?

The Platinum Direct Finance group of companies will finance over 800 million dollars worth of equipment and car finance this year! Due to this volume and buying power, we can give our clients access to the best boat finance rates and boat financing products across Australia.

Novated Lease Brochures

Need further information?

If you require further car finance or car leasing assistants, either complete our friendly enquiry form or call an experienced finance consultant on 1300 554 553 today.

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