What is Novated Leasing and am I Eligible?

A salary packaging agreement involving you, your employer and a financier, novated leasing lets you bundle your car payments and regular running costs – including petrol, insurance, rego and servicing – into one regular, budget-friendly payment.

Because your lease is covered from a mix of your pre- and post-tax salary, it could be tax-effective, too. While fringe benefits tax might apply, a novated lease can lower your taxable income and reduce the cost of getting into and running your next car.

You don't have to drive lots of kilometres or earn a certain level of income either, and, while we’re dispelling myths, the car doesn’t have to be new, either. In fact, many RemServ customers enjoy the tax benefits and convenience of leasing a used vehicle.

Am I eligible?

There are no industry-specific exemptions, but your novated leasing eligibility ultimately rests with your employer and their salary packaging policy. While full-time and part-time workers are usually eligible, casual employees may not be. Again, this is subject to your employer’s approval. If in doubt, speak to your human resources contact.

To find out more about novated leasing, give us a call on 1300 73 14 29 or get in touch online today.