Use before tax salary to make payments, allowing you to reduce your taxable income and potentially save on tax.
Combine your car payments and most of your car’s running costs into one convenient regular payment.
The Federal Govt’s Electric Car (EV) Discount could help you save thousands on an eligible electric car, including Petrol-Hybrid options.
A novated lease allows you to use money from your salary before tax is taken out. This money is used not only for your vehicle’s repayments, but also general running costs, including the big-ticket items such as registration, insurance and servicing. You’ve got these big expenses pre-budgeted for, while potentially benefiting from reducing your taxable income.
Owning a vehicle outright or using a traditional car loan means your payments and/or running costs are all made with post-tax dollars.
A novated lease allows you to use money from your salary before tax is taken out. This money is used not only for your vehicle’s repayments, but also general running costs, including the big-ticket items such as registration, insurance and servicing. You’ve got these big expenses pre-budgeted for, while potentially benefiting from reducing your taxable income.
Owning a vehicle outright or using a traditional car loan means your payments and/or running costs are all made with post-tax dollars.
A novated lease allows you to use money from your salary before tax is taken out. This money is used not only for your vehicle’s repayments, but also general running costs, including the big-ticket items such as registration, insurance and servicing. You’ve got these big expenses pre-budgeted for, while potentially benefiting from reducing your taxable income.
Owning a vehicle outright or using a traditional car loan means your payments and/or running costs are all made with post-tax dollars.
A novated lease allows you to use money from your salary before tax is taken out. This money is used not only for your vehicle’s repayments, but also general running costs, including the big-ticket items such as registration, insurance and servicing. You’ve got these big expenses pre-budgeted for, while potentially benefiting from reducing your taxable income.
Owning a vehicle outright or using a traditional car loan means your payments and/or running costs are all made with post-tax dollars.
The Electric Car Discount is an initiative from the Federal Government to help make EVs more affordable by exempting eligible cars from Fringe Benefits Tax. To take advantage of the Discount, your novated lease vehicle needs to be:
Oly can help you get set up with the discount and FBT exemptions if you take out a novated lease on an eligible EV. Click here for more details.
*From 1 April 2025, a plug-in hybrid electric vehicle will not be considered a zero or low emissions vehicle under FBT law. However, your employer can continue to apply the exemption if both the following requirements are met: 1) Use of the plug-in hybrid electric vehicle was exempt before 1 April 2025. 2) You have a financially binding commitment to continue using the vehicle for private use on and after 1 April 2025. For this purpose, any optional extension of the agreement is not considered binding.
To qualify for the EV discount, plug-in hybrid electric vehicles must be delivered by midnight on 31 March 2025. Due to high demand and stock limitations there may be some vehicles that do not meet the delivery deadline for the EV Discount. Customers are advised to confirm delivery timelines before proceeding with their orde
The Electric Car Discount is an initiative from the Federal Government to help make EVs more affordable by exempting eligible cars from Fringe Benefits Tax. To take advantage of the Discount, your novated lease vehicle needs to be:
Oly can help you get set up with the discount and FBT exemptions if you take out a novated lease on an eligible EV. Click here for more details.
*From 1 April 2025, a plug-in hybrid electric vehicle will not be considered a zero or low emissions vehicle under FBT law. However, your employer can continue to apply the exemption if both the following requirements are met: 1) Use of the plug-in hybrid electric vehicle was exempt before 1 April 2025. 2) You have a financially binding commitment to continue using the vehicle for private use on and after 1 April 2025. For this purpose, any optional extension of the agreement is not considered binding.
To qualify for the EV discount, plug-in hybrid electric vehicles must be delivered by midnight on 31 March 2025. Due to high demand and stock limitations there may be some vehicles that do not meet the delivery deadline for the EV Discount. Customers are advised to confirm delivery timelines before proceeding with their orde
The Electric Car Discount is an initiative from the Federal Government to help make EVs more affordable by exempting eligible cars from Fringe Benefits Tax. To take advantage of the Discount, your novated lease vehicle needs to be:
Oly can help you get set up with the discount and FBT exemptions if you take out a novated lease on an eligible EV. Click here for more details.
*From 1 April 2025, a plug-in hybrid electric vehicle will not be considered a zero or low emissions vehicle under FBT law. However, your employer can continue to apply the exemption if both the following requirements are met: 1) Use of the plug-in hybrid electric vehicle was exempt before 1 April 2025. 2) You have a financially binding commitment to continue using the vehicle for private use on and after 1 April 2025. For this purpose, any optional extension of the agreement is not considered binding.
To qualify for the EV discount, plug-in hybrid electric vehicles must be delivered by midnight on 31 March 2025. Due to high demand and stock limitations there may be some vehicles that do not meet the delivery deadline for the EV Discount. Customers are advised to confirm delivery timelines before proceeding with their orde
The Electric Car Discount is an initiative from the Federal Government to help make EVs more affordable by exempting eligible cars from Fringe Benefits Tax. To take advantage of the Discount, your novated lease vehicle needs to be:
Oly can help you get set up with the discount and FBT exemptions if you take out a novated lease on an eligible EV. Click here for more details.
*From 1 April 2025, a plug-in hybrid electric vehicle will not be considered a zero or low emissions vehicle under FBT law. However, your employer can continue to apply the exemption if both the following requirements are met: 1) Use of the plug-in hybrid electric vehicle was exempt before 1 April 2025. 2) You have a financially binding commitment to continue using the vehicle for private use on and after 1 April 2025. For this purpose, any optional extension of the agreement is not considered binding.
To qualify for the EV discount, plug-in hybrid electric vehicles must be delivered by midnight on 31 March 2025. Due to high demand and stock limitations there may be some vehicles that do not meet the delivery deadline for the EV Discount. Customers are advised to confirm delivery timelines before proceeding with their orde
FBT stands for Fringe Benefits Tax, which is a tax applied to benefits you receive through your employer that aren’t a salary. A novated lease is considered a fringe benefit. Because novated leases incur FBT, it is recommended to make post-tax contributions to offset the FBT liability. This is known as ECM, or the employee contribution method, because the employee (you) is the one making the contributions. If you have an eligible electric vehicle, your lease could be exempt from FBT requiring no post tax contribution, thanks to the Electric Car Discount. Click here for more details.
FBT stands for Fringe Benefits Tax, which is a tax applied to benefits you receive through your employer that aren’t a salary. A novated lease is considered a fringe benefit. Because novated leases incur FBT, it is recommended to make post-tax contributions to offset the FBT liability. This is known as ECM, or the employee contribution method, because the employee (you) is the one making the contributions. If you have an eligible electric vehicle, your lease could be exempt from FBT requiring no post tax contribution, thanks to the Electric Car Discount. Click here for more details.
FBT stands for Fringe Benefits Tax, which is a tax applied to benefits you receive through your employer that aren’t a salary. A novated lease is considered a fringe benefit. Because novated leases incur FBT, it is recommended to make post-tax contributions to offset the FBT liability. This is known as ECM, or the employee contribution method, because the employee (you) is the one making the contributions. If you have an eligible electric vehicle, your lease could be exempt from FBT requiring no post tax contribution, thanks to the Electric Car Discount. Click here for more details.
FBT stands for Fringe Benefits Tax, which is a tax applied to benefits you receive through your employer that aren’t a salary. A novated lease is considered a fringe benefit. Because novated leases incur FBT, it is recommended to make post-tax contributions to offset the FBT liability. This is known as ECM, or the employee contribution method, because the employee (you) is the one making the contributions. If you have an eligible electric vehicle, your lease could be exempt from FBT requiring no post tax contribution, thanks to the Electric Car Discount. Click here for more details.
Oly is an Australian-owned and operated novated lease provider, making novated leasing a finance option that is easy to understand and accessible to millions more people. The Oly team will work closely with you and your employer to create a novated leasing solution that could benefit everyone. Backed by one of Australia’s biggest and most trusted workplace benefits providers McMillan Shakespeare Group (MMS), Oly are experts in the world of novated leasing. Click here to find more about Oly.
Oly is an Australian-owned and operated novated lease provider, making novated leasing a finance option that is easy to understand and accessible to millions more people. The Oly team will work closely with you and your employer to create a novated leasing solution that could benefit everyone. Backed by one of Australia’s biggest and most trusted workplace benefits providers McMillan Shakespeare Group (MMS), Oly are experts in the world of novated leasing. Click here to find more about Oly.
Oly is an Australian-owned and operated novated lease provider, making novated leasing a finance option that is easy to understand and accessible to millions more people. The Oly team will work closely with you and your employer to create a novated leasing solution that could benefit everyone. Backed by one of Australia’s biggest and most trusted workplace benefits providers McMillan Shakespeare Group (MMS), Oly are experts in the world of novated leasing. Click here to find more about Oly.
Oly is an Australian-owned and operated novated lease provider, making novated leasing a finance option that is easy to understand and accessible to millions more people. The Oly team will work closely with you and your employer to create a novated leasing solution that could benefit everyone. Backed by one of Australia’s biggest and most trusted workplace benefits providers McMillan Shakespeare Group (MMS), Oly are experts in the world of novated leasing. Click here to find more about Oly.
Yes, you can claim electricity for charging an EV – both at home via a smart meter or at a public charging station. However, only one of these methods can be claimed per Fringe Benefits Tax year (which goes from 1 April – 31 March). Currently, the installation and cost of a home charging station cannot be claimed under a novated lease agreement.
Yes, you can claim electricity for charging an EV – both at home via a smart meter or at a public charging station. However, only one of these methods can be claimed per Fringe Benefits Tax year (which goes from 1 April – 31 March). Currently, the installation and cost of a home charging station cannot be claimed under a novated lease agreement.
Yes, you can claim electricity for charging an EV – both at home via a smart meter or at a public charging station. However, only one of these methods can be claimed per Fringe Benefits Tax year (which goes from 1 April – 31 March). Currently, the installation and cost of a home charging station cannot be claimed under a novated lease agreement.
Yes, you can claim electricity for charging an EV – both at home via a smart meter or at a public charging station. However, only one of these methods can be claimed per Fringe Benefits Tax year (which goes from 1 April – 31 March). Currently, the installation and cost of a home charging station cannot be claimed under a novated lease agreement.
The good news about novated leases is that they could move with you if you change employers. Even though your employer manages your lease payments via your salary, the lease is in your name. If you change jobs during your lease term, speak to your new employer about transferring the lease to your new organisation. Alternatively, you could choose to buy your car outright by paying the residual value or keep making payments with post-tax dollars.
The good news about novated leases is that they could move with you if you change employers. Even though your employer manages your lease payments via your salary, the lease is in your name. If you change jobs during your lease term, speak to your new employer about transferring the lease to your new organisation. Alternatively, you could choose to buy your car outright by paying the residual value or keep making payments with post-tax dollars.
The good news about novated leases is that they could move with you if you change employers. Even though your employer manages your lease payments via your salary, the lease is in your name. If you change jobs during your lease term, speak to your new employer about transferring the lease to your new organisation. Alternatively, you could choose to buy your car outright by paying the residual value or keep making payments with post-tax dollars.
The good news about novated leases is that they could move with you if you change employers. Even though your employer manages your lease payments via your salary, the lease is in your name. If you change jobs during your lease term, speak to your new employer about transferring the lease to your new organisation. Alternatively, you could choose to buy your car outright by paying the residual value or keep making payments with post-tax dollars.
There are four options at the end of your lease:
For more details, visit the Oly website.
There are four options at the end of your lease:
For more details, visit the Oly website.
There are four options at the end of your lease:
For more details, visit the Oly website.
There are four options at the end of your lease:
For more details, visit the Oly website.
[1] All calculations in relation to the car loan are based on the following assumptions: living in NSW, loan amount is the full price of the car: $57,990, salary: $90,000 gross p.a., travelling 15,000 kms p.a., loan term of 60 months and an interest rate of 8.9%.
[2] All calculations in relation to the Novated Lease are based on the following assumptions: living in NSW, salary: $90,000 gross p.a., travelling 15,000 kms p.a., finance/lease term of 60 months and an interest rate of 12% .
[3]Pricing based on the drive-away cost of a vehicle based in NSW.
[4] Interest rate used for novated lease is 12% . Interest rate use for car loan is 8.9%.
[5] The novated lease finance cost includes an administration fee of $220 inc GST p/a and the fee charged by the finance provider of $0, which has been used for illustrative purposes only. The actual administration fee applicable to your novated lease may differ as it will be dependent on your employer’s salary packaging plan.
The differences above are indicative and of a general nature only, and we have not taken your personal financial objectives, situation or needs into account. We recommend you seek professional financial and taxation advice before making any financial decisions regarding a novated lease
[7] Residual value, also referred to as a “balloon payment”, is the payment required by the Australian Taxation Office at the end of a novated lease term. The residual cost is calculated at 28.13% for novated lease as per ATO guidelines. No residual cost is payable at the end of a car loan.
[1] All calculations in relation to the car loan are based on the following assumptions: living in NSW, loan amount is the full price of the car: $57,990, salary: $90,000 gross p.a., travelling 15,000 kms p.a., loan term of 60 months and an interest rate of 8.9%.
[2] All calculations in relation to the Novated Lease are based on the following assumptions: living in NSW, salary: $90,000 gross p.a., travelling 15,000 kms p.a., finance/lease term of 60 months and an interest rate of 12% .
[3]Pricing based on the drive-away cost of a vehicle based in NSW.
[4] Interest rate used for novated lease is 12% . Interest rate use for car loan is 8.9%.
[5] The novated lease finance cost includes an administration fee of $220 inc GST p/a and the fee charged by the finance provider of $0, which has been used for illustrative purposes only. The actual administration fee applicable to your novated lease may differ as it will be dependent on your employer’s salary packaging plan.
The differences above are indicative and of a general nature only, and we have not taken your personal financial objectives, situation or needs into account. We recommend you seek professional financial and taxation advice before making any financial decisions regarding a novated lease
[7] Residual value, also referred to as a “balloon payment”, is the payment required by the Australian Taxation Office at the end of a novated lease term. The residual cost is calculated at 28.13% for novated lease as per ATO guidelines. No residual cost is payable at the end of a car loan.
[1] All calculations in relation to the car loan are based on the following assumptions: living in NSW, loan amount is the full price of the car: $57,990, salary: $90,000 gross p.a., travelling 15,000 kms p.a., loan term of 60 months and an interest rate of 8.9%.
[2] All calculations in relation to the Novated Lease are based on the following assumptions: living in NSW, salary: $90,000 gross p.a., travelling 15,000 kms p.a., finance/lease term of 60 months and an interest rate of 12% .
[3]Pricing based on the drive-away cost of a vehicle based in NSW.
[4] Interest rate used for novated lease is 12% . Interest rate use for car loan is 8.9%.
[5] The novated lease finance cost includes an administration fee of $220 inc GST p/a and the fee charged by the finance provider of $0, which has been used for illustrative purposes only. The actual administration fee applicable to your novated lease may differ as it will be dependent on your employer’s salary packaging plan.
The differences above are indicative and of a general nature only, and we have not taken your personal financial objectives, situation or needs into account. We recommend you seek professional financial and taxation advice before making any financial decisions regarding a novated lease
[7] Residual value, also referred to as a “balloon payment”, is the payment required by the Australian Taxation Office at the end of a novated lease term. The residual cost is calculated at 28.13% for novated lease as per ATO guidelines. No residual cost is payable at the end of a car loan.
