Electric Vehicles: Novated Leasing

Whether you're driven by concern for the planet, or motivated by the extraordinary technology that powers EVs, we can provide the most simple and cost-effective transition to an EV lifestyle. Find out more here: www.smartleasing.com.au/elect...

[@fijioz]

You do save a lot on income tax, but the pay back is the grossed up FBT that should have been paid as an ECM goes on your payment summary. This will push up your yearly income for Medicare levy and any Centrelink payments

[@Smartgroup_aus]

Thanks for your comment. Yes, that is correct. A novated lease for an electric vehicle could provide income tax savings, and it is included as a Reportable Fringe Benefit Amount (RFBA) on your payment summary.
Your individual circumstances, such as the industry you work in, the type of Centrelink payment you receive, or if you pay the Medicare Levy Surcharge, will factor into what your savings could be. At Smartleasing we can tailor a quote to suit your needs and this can include whether the car is quoted so that there is a RFBA on your payment summary or a post-tax deduction (ECM).