Employee Benefits

  1. Flexibility and Ownership Satisfaction

    A novated lease allows Employees to have flexibility in their choice of vehicle without additional cost to their Employer. In the event that an Employee leaves the employer at any time, he or she retains the vehicle and may write a new Novation Agreement with their next employer. (The original agreement expires on employment termination regardless). With this arrangement Employees have the satisfaction of being able to choose their own style of car and be assured of retaining this vehicle regardless of future employment decisions.

  2. Tax Advantages

    For those employees who wish to acquire a vehicle as part of a vehicle entitlement or those who are not currently entitled to a company vehicle, the NovaLease™ system allows the employee to 'Salary Sacrifice' a portion of their pre tax income to accommodate their requirements. Only the value of the vehicle is subject to F.B.T. All maintenance, fuel, insurance and lease costs can be taken out of pre tax income - regardless of the level of business use. Under current tax laws this is the most cost effective method available today to drive the car of your choice. In many situations a NovaLease™ can save an Employee several thousand dollars each year when compared to running a vehicle using after tax income.

  3. Pricing Advantages

    Employees also have the opportunity of Leasing the Vehicle at a greatly reduced price by taking advantage of the Fleet Discounts available to the Employer. By ensuring that conservative Lease Terms and Residual Values are used and given that the Vehicle has been sourced at a discounted price, Employees can be assured that they are in the best available equity situation throughout the Lease. This allows for greatest ease of vehicle disposal should this need arise.

  4. Lease End Benefit

    At the end of a novated lease the employee is in a position to offer to purchase the vehicle at the specified residual value (finance lease only) and sell or trade their vehicle at market value. Any profit from this transaction is to the account of the Employee.