• Compare a novated lease to a car loan

  • Here's a few novated lease examples to help you understand how it lets you save. We compare annual costs of a novated lease to paying for the same car with after-tax salary.

    See the reductions in taxable income and tax payable, plus the mix of pre and post tax contributions that eliminate any FBT liability. Same car, same price, big savings with LeasePlan's novated option.

    NOTE: ECM (mix of pre and post tax) benefits all except +$180k salaries. Examples do not factor in other pre-tax impacts (e.g. childcare payments, benefits, etc.).

    See how a novated lease can save you money

  • Novated Benefit

      Novated Post Tax
    Annual Salary $60,000 $60,000
    Pre Tax Vehicle Cost -$7,593.13 $0.00
    Taxable Income $52,406.87 $60,000
    Tax Payable -$9,627.09 -$12,247.00
    Post Tax Vehicle Cost $0.00 -$16,307.00
    Post Tax Employee Contribution -$7,954.70 $0.00
    Annual Disposable Income $34,825.08 $31,446.00
    Novated Advantage $3,379.00 $0.00

     

    Adam

    Adam is a 26 year-old painter, employed by a building company, earning $60,000 a year. He has Ford Ranger Ute as it is handy in his job. He is leasing for three years, at 20,000km/yr. He is $3379.00 per annum better off.

  • Novated Benefit

      Novated Post Tax
    Annual Salary $90,000 $90,000
    Pre Tax Vehicle Cost -$6,158.90 $0.00
    Taxable Income $83,841.10 $90,000
    Tax Payable -$20,644.00 -$23,047.00
    Post Tax Vehicle Cost $0.00 -$12,936.96
    Post Tax Employee Contribution -$6,162.00 $0.00
    Annual Disposable Income $57,035.10 $54,016.04
    Novated Advantage $3,019.00 $0.00

     

    Lisa

    Lisa is a 44 year-old Systems Architect with an IT company, earning $90,000 a year. She has a Mazda CX5 for her mix of work and teenage kid duties. She is leasing for three years, at 15,000km/yr. She is $3019 per annum better off.

  • Novated Benefit

      Novated Post Tax
    Annual Salary $70,000 $70,000
    Pre Tax Vehicle Cost -$5,348.29 $0.00
    Taxable Income $64,651.71 $70,000
    Tax Payable -$13,851.61 -$15,697.00
    Post Tax Vehicle Cost $0.00 -$9,914.00
    Post Tax Employee Contribution -$4,031.00 $0.00
    Annual Disposable Income $46,769.10 $44,389.00
    Novated Advantage $2,380.10 $0.00

     

    Mark

    Mark is a 32 year-old Accountant, employed by a finance company and earning $70,000 a year. He has a Hyundai i30 which suits his low mileage and inner city driving needs. He is leasing for two years, at 8,000km/yr. He is $2,380.10 per annum better off.

  • Try it out with your own numbers

    Get a better understanding of how it works and how much money you can save with our online calculator.