Why novated works
A popular staff benefit
Australians love their cars and they love a bargain. Novated leasing combines the two. It is an arrangement between the employee, their employer and LeasePlan where the employee chooses the car they want to lease and transfers (novates) the responsibility for the lease payments to the employer. As the employer, you agree to pay the employee’s lease rentals and operating costs to LeasePlan via payroll deductions. The employee saves through pre-tax salary deductions, GST free operating costs, as well as the healthy discounts negotiated by LeasePlan through its considerable buying power.