• To enter into a Novated Lease with LeasePlan, your employer will need to have a business relationship with LeasePlan.

    The Novated Lease Calculator is indicative only, designed to provide a reasonable estimate of the monthly rental costs and savings associated with leasing a vehicle.

    The rental figures and projected savings are indicative only and do not constitute a quote or offer of finance.

    Assumptions

    Annual Kilometres

    Figure entered treated as 100% personal use.

    Gross Annual Income

    Figure entered treated as Gross salary - excluding superannuation or any other salary packaging deductions or HECS liability.

    Term of Finance

    Is defined by the number of months nominated. At the end of the nominated lease term there is a Residual Value. This value is set by the ATO as follows;

    1 Year term, has a residual value of 65.63% of the amount financed.
    2 Year term - 56.25%
    3 Year term - 46.88%
    4 Year term - 37.50%
    5 Year term - 28.13%

    The Residual Value is your novated lease payout figure at the end of your lease agreement and is inclusive of GST.

    Vehicle Cost

    The financed amount is the list price of the nominated vehicle (excluding GST), including Stamp Duty, LCT, registration and CTP insurance.

    FBT Liability

    The calculator assumes all vehicles will use the Statutory Formula method, with employee contributions to reduce the liability to zero. 

    Where the vehicle appears to be eligible for the electric car FBT exemption (based on vehicle type and purchase price below luxury threshold) the calculator assumes zero liability.

    Fuel

    The cost of fuel per litre is a speculated average over the term of the lease, and considers the following factors:

    1. Fuel economy
    2. Term/Kilometres nominated
    3. Fuel type

    Maintenance

    The maintenance estimate is generated on the category of the nominated vehicle. A dollar figure is calculated per kilometre nominated.

    Insurance

    Comprehensive Insurance is factored in to the monthly rental and assumes the driver is Rating 1.

    Tax

    Income Tax rates for the current financial year are used.

    Luxury Vehicles

    The calculator applies Luxury Car Tax (LCT) as per the current threshold in ATO guidelines.