What is Vehicle Salary Packaging?
What is salary packaging?
Salary Packaging is an arrangement with your employer that allows for the vehicle and its running costs (fuel, servicing, insurance, registration) to be paid from pre and post tax dollars helping you reduce your taxable income.
When looking to replace or upgrade your car, you want the most tax effective option. When comparing options we look at traditional car loans, mortgage, cash or salary packaging.
The car you lease is up to you. You can choose:
- A new car
- A used car - some conditions may apply
- Or even your existing car if appropriate
Your car lease can be setup for a term anywhere between 1 - 5 years.
Who can benefit?
Salary packaging a car through a novated lease could benefit almost anyone who has a car. You do not have to be a high-income earner or drive high kilometres to benefit.
What to do next?
Once you know the car that meets your needs please feel free to give us a call and we can run the numbers to give you a real idea of what salary packaging a car would mean for you.
This way we can show you what your new car salary packaged means based on real numbers for your fortnightly pay but showing you the real benefit of your savings!