Novated leases work through an employer's PAYG payroll. Based on your employment situation, you may not be eligible, but it's worth having a conversation to be sure.
Chattel mortgage or car loan
Business owners can often claim vehicle expenses including depreciation and interest as a tax deduction. A broker can structure this to your advantage.
Instant asset write-off
Eligible businesses may be able to immediately deduct the cost of a vehicle under the ATO's instant asset write-off provisions.
Become a PAYG employee
If your work situation changes, e.g., you take on a full-time role with an employer, novated leasing may become available to you.
Know someone who could benefit? Novated leasing is one of the best tax breaks available to PAYG employees in Australia. If you have colleagues or friends on a salary, they could save thousands.
Share this tool: leaseplease.com.au