Novated Lease

 

Lease Agreement | Community Home Loans Australia

What is a Novated Lease

What is a "Novated Lease"?

A novated lease is a vehicle lease agreement between you, your employer and a finance company. Novated Leasing is also known as car salary packaging or salary sacrifice.

Entering into a Novated Lease means that your employer agrees to pay your vehicle lease payments out of your pre-tax salary. Paying with pre-tax dollars allows your income tax to be calculated on the reduced total of your salary or wages minus car payments. Your disposable income is greater than it would be if you were paying for the same vehicle with post-tax dollars.

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If a novated lease is an option for you, your business or employer then talk to our corporate finance experts today.

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Benefits of Novated Lease

 
How to proceed with Novated Lease

How to proceed

Speak to your employer

If Novated Leasing is a benefit offered by your employer, you're able to choose the vehicle you wish to drive without the restrictions that typically apply to a company fleet.

Once you've purchased the vehicle and made the finance arrangements in your own name, you then enter into a Novation Agreement with your employer.


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Benefits of Novated Lease

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Employer contact

A novated lease is a great option if are permitted to include a vehicle into an employee's salary packaging. The employer can pay a portion of your lease expense from pre-pay tax income, subject to approval. It may provide some further tax benefits that your accountant can explain in detail.


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Finance & Mortgage Broker Centres

Glynn Finance business centres are located across New South Wales


Sydney

Balmain (Inner West)

Bondi (Eastern)

Community Home Loans Australia Partners

Our Lenders

Glynn Finance has access to a panel of over 20 lenders, including the big four banks. Our online mortgage calculator provides a mortgage repayment estimate based on loan amount, indicative interest rates, loan term and structure. The tool also lets you compare the rates and features of various loans.

For a more precise estimate of your borrowing capacity contact a Glynn Finance mortgage specialist today.