What is a Novated Lease?
Novated Leasing is a lease agreement that addresses the differing needs of employers and employees, to provide a solution that benefits everyone.
A Novated Lease is an agreement between your employer, yourself (the employee) and Lease & Asset Finance Pty Ltd, which amounts to a transferral of the obligation to meet the lease rentals under the finance lease from yourself to your employer.
A Novated Lease is a tax effective option that is approved by the Australian Tax Office (ATO). The main benefit in doing a Novated Lease is to reduce the cost of financing and running a vehicle. This is done through the tax and GST savings when Novating a vehicle.
Novated Leasing is associated with Salary Packaging which incorporates other benefits other than a vehicle. Salary Packaging and Novated Leasing facilitate you to pay for the vehicle and associated running costs out of your PRE-TAX salary rather than AFTER-TAX. This means more money in your pocket.
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Understanding Novated Leasing
How do I pay for my vehicle expenses? - We will organise for you to be sent a Caltex Star Fleet card, which takes approximately 2 weeks from vehicle delivery. This card is used to purchase fuel from all Caltex & Ampol fuel stations Australia wide. It will also be used to pay for routine maintenance and tyres. When you receive your Star Fleet card you will also receive a user guide