A Novated Lease is a three way agreement between you, your employer and FleetPartners. Then by way of a Novation Agreement your lease is Novated to your employer, who then undertakes to meet the lease rentals whilst you are employed by that organisation.
Maximise your Salary – Managing FBT
Fringe Benefits Tax (FBT) is a tax payable by employers who provide non-cash benefits to employees. A Novated Lease is a non-cash benefit that attracts FBT. Some employers pass the cost of the FBT onto employees through salary sacrifice.
Employee Contribution Method (ECM)
Employee contributions can be used to reduce or remove the amount of FBT you pay. ECM allows you to pay some or all, of your vehicle costs from after tax dollars. Allowable vehicle costs include finance lease rental, fuel, maintenance, registration and insurance associated with your Novated Lease. Any such contribution payment can reduce the FBT Taxable Value of the vehicle and therefore the FBT liability payable. You may be able to reduce the FBT liability to zero by paying for allowable car costs up to the FBT Taxable Value of the car in after tax income.
As a Novated Driver the below forms and documents may assist you through out the term of your lease.
Driver Reimbursement Forms
Fuel Reimbursement Request
Insurance Reimbursement Request
Maintenance Reimbursement Request
Insurance Information
Novated Drivers
Allianz Product Disclosure Statement
Insurance Enhancements
ANZ Clients
ANZ QBE Mercantile Mutual Novated Comprehensive Insurance Policy
High Performance and Grey Import Vehicles
Category Listing Document
Redundancy Insurance
Swann Insurance Novated Lease PDS
Swann Insurance Novated Lease Policy