Positive Salary Packaging Can Save You Thousands of Dollars on Your Next Vehicle by
Reduce your income tax
Save GST on the vehicle’s purchase price and running costs
No business use required
Flexible expense card for fuel purchases
Tailor a flexible running cost budget to suit
Online account management system
Positive Salary Packaging has an industry-first Residual-free option which caters for all. Talk to us today to find out more.
I’m an employer
No cost
No FBT
No Reporting
One invoice
Reward your staff
Australian Based Support
Why would I consider a Novated Lease?
A Novated Lease is a tax effective form of financing your vehicle. It allows you to pay for the vehicle and all it’s associated running costs using pre & post tax money. This method reduces your taxable income resulting in savings of thousands.
Why Use Positive Salary Packaging?
As Positive Salary Packaging we understand your needs. Our consultative, one-step-further approach and decades of industry experience will take our service levels beyond expectations to make that tax effective result feel even better.
How and where do I save money?
Pay Less Tax
Like your superannuation, your employer simply deposits your nominated contributions into your Positive Salary Packaging offset account every pay period. As a large portion of this money is PRE-TAX (from your “Gross” Income) your tax is then calculated on the reduced amount (known as “Taxable” Income)
Flexible Vehicle Choice
You can package any vehicle (new, used and even existing) We can even offer a refinance option to potentially re-gain some of the benefit you have missed out on over your remaining finance term
GST Savings
As Novated Lease finance is treated as a business transaction, this means you don’t have to pay the GST on the purchase price of the vehicle. Saving you effectively 10% on the vehicle price straight up! You also save the GST on your running costs
End of Term Profit
If you wish to sell or trade-in your vehicle at the end of the term, any profit above the residual value is yours to keep TAX-FREE
No Additional or Up-front Costs
Don’t bother opening your wallet, unlike regular finance a Novated Lease requires no deposit or up-front costs.
What vehicle expenses are included?
Fuel
Servicing / Maintenance
Tyres
Registration and CTP
Full comprehensive Insurance
Roadside membership
Car washing & detailing
Specialised finance through our panel of lenders
On average, drivers save $80 per fortnight on income tax and GST, which is $10,380 over 5 years, through a Novated Lease.
FAQ
What happens if I change employers or stop working?
Your agreement is fully portable between employers. What was once only available to the Public service sector, is now available to every working Australian. If you decide to stop working, you can continue
the agreement directly with the financier or potentially transfer to a family member or associate.
What happens if I don’t spend all my deductions?
Any unspent provisions can be withdrawn via your payroll at any time throughout the term. Surplus at the end can be rolled into your new vehicle, if you wish to upgrade.
Do I own the car and who can drive it?
You are the registered and insured owner of the vehicle therefore the decision of who drives it….is entirely yours!
What’s FBT? (Fringe Benefits Tax)
Positive Salary Packaging will ensure there are no FBT implications using the method that gets the best outcome for you.
What happens at the end of the term?
- Upgrade your vehicle
- Extend your current package for another term
- Pay out the remaining residual
- Own vehicle outright with a Residual Free option
Call one of the Positive Salary Packaging’s local consultants to discuss your needs and let them put together a tailored novated quote for you.
We provide Novated Leases for all car brands, including the ones listed below
All novated examples are based on 60 months term traveling 15,000 kms per annum based upon a $85,000 annual income. Images are for display and illustration purposes only. Vehicle supply is subject to availability and pricing may change subject to manufacture discretion and could affect the estimated figures list above. Novated leasing or Vehicle Packaging works for the employee by substituting a taxable benefit compared to their current personal scenario. The above figures represent the estimated net impact on your income taking into account the assumed tax and GST savings. All applications are subject to normal credit criteria and assessment along with loan/lease suitability. Terms, conditions, fees and charges may apply.
It is best to seek financial advice from an independent specialist such as an accountant in regards to your own personal circumstances before solely relying on these figures.
Positive Salary Packaging ABN 71 643 583 171.
Vehicle Salary Packaging Solutions
See what Positive Salary Packaging can do for you today. Simply hit the button and send us an enquiry to get started.