Salary Packaging for employees
With your the employers consent, all employees can salary package a car.
Salary Packing a vehicle via a Novated Lease is an Australian Tax Office approved structure which has significant benefits to many employees across a wide spectrum of organisations.
How does it work?:- Car Packaging works in much the same way as Salary Packaging – by paying for vehicle payments and running costs from the employee’s pre-tax salary.
- The car is registered and insured in the employee’s name
- No business use is required and the employee does not have to be the main driver.
- Employees reduce their taxable income and therefore the amount of tax they pay each pay day, which increases their net pay, providing in effect a pay rise.
- In addition to PAYG tax savings, employees benefit from significant GST savings on the purchase price of the vehicle and running costs of the car such as fuel, tyres, servicing etc.
- Employees are also able to gain access to Fleet Choice’s fleet buying power. The fleet discounts for virtually all new cars are significant. A no obligation fleet pricing service is available for employees to compare pricing.
- Many employees appreciate the opportunity to drive their car of choice, best suited to their personal situation and needs.
- In the event of the employee moving to another organization the cars stays with the employee. The new employer may take over the Novation or the driver simply continues with the finance arrangement until the end of the lease.
Call FLEET Choice and discuss your particular situation and an indication of your tax savings.
Please call FLEET CHOICE on toll free 1300 889 669
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