Have you ever considered applying for a novated lease before? It’s a tax-effective way for you to own that car you’ve always wanted to have finally. If you’re having second, thoughts – it’s okay. We’ll help you make up your mind and show just how beneficial a novated leasing can be if done right.
Here are three main reasons why you should consider getting a novated lease deal once you qualify for it:
1.) Novated Lease Reduces Your Taxable Income
A Novated lease agreement can effectively reduce your overall taxable income with every payday when your salary is deducted to compensate for it. It’s an appealing feature since you’ll no longer have to way for the end of the corporate year to claim back all of your tax in your income tax return. That means you will get to pay your car through a portion of your taxes, which means you can significantly reduce your taxable income every time you get your monthly payment notice.
2.) Your Employer/Company Will Be Responsible for Repayments
With a novated leasing agreement, you’ll no longer have to worry about direct debit payments. It will provide you with sufficient funds left when repayment is near. If you’re working for a company that offers novated leasing, you can have your employer make the payments to the financier before giving your salary. That way, you will never have to worry about them.
3.) Save Money on GST
The financier will calculate your rental payments on the Goods and Services Tax (GST) exclusively for the amount of the vehicle. That way, you will save money on this amount of GST at the same time. There will be Goods and Services Taxes added to your rental payments. Your employer may then have the ability to claim this before paying your salary, which sacrifices your leasing repayment. That will save you on GST in your repayment, which may include the running costs of your new car, fuel, tires, insurance, overall care maintenance, and more.
Apply for a Novated Lease Right Now!
Novated leasing provides you with convenience and flexibility. Unlike every other car company, you can still take care of your car and continue to make your lease repayments even if you leave your employer. You also get to receive the benefits listed above. So what are you waiting for? Apply for a novated lease today and earn your dream car without the hassle.