In the realm of vehicle financing options, novated leasing has emerged as a popular choice for Australian employees seeking flexible and cost-effective means of car ownership. A novated lease from companies like Vehicle Solutions novated lease ATO, essentially a three-way agreement between an employee, their employer, and a finance company, offers numerous advantages in terms of tax savings, convenience, and flexibility. However, navigating the intricate landscape of Australian Tax Office (ATO) regulations is essential for maximising the benefits of novated leasing while remaining compliant. In this article, we delve into the nuances of novated lease ATO regulations in Australia to authorise both employers and employees with the knowledge necessary to…

Novated leasing combines car finance and running costs into one affordable monthly payment, taking the guesswork out of budgeting. Plus, you’ll enjoy fleet discounts on tyres, maintenance and fuel. Calculate your monthly repayments. Novated leases are a great way to purchase a vehicle using a loan deducted from your salary each pay period. It allows employees to save money on interest costs and often increases their take-home pay by up to 5%. For more information about the NovatedEV novated lease calculator, click here. Novated leasing also includes car running costs like fuel, insurance and servicing. It can help you reduce your overall vehicle costs as well as reduce the impact…

A defence salary sacrifice is an arrangement where the employee pays into a scheme with an after-tax contribution to offset the employer’s FBT liability. The employee generally has to make minimum contributions for five years, which are deductible. The employee must also get receipts for any cash advances and return excess reimbursements. The tax advantages of a salary sacrifice are outlined in the Defence Revenue Act 1998. After-tax contribution to offset the employer’s FBT liability If you’re a Defence member, you may be eligible to make an after-tax contribution to offset the employer FBT liability. This contribution can be made to your or your spouse’s super fund. Salary sacrifice contributions…