Your situation
Common questions
Employers can benefit in several ways, including reduced fleet management responsibilities, potential GST credits on operating costs, and the ability to offer an attractive incentive for employee attraction and retention.
Yes, one of the advantages of the Novated Lease Operating Cost Method is its flexibility. If you change jobs, you can typically transfer the lease to your new employer.
Users can expect tax benefits arising from salary packaging the vehicle and its running costs. The exact savings will depend on factors like salary, car expenses, and the specified business use percentage.
The business use percentage directly impacts the potential tax savings one can achieve. A higher business use means a larger portion of the vehicle’s expenses can be claimed, leading to more significant tax benefits.