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Useful Business Publications
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By
registering to our newsletter,
you are also accepting the practices
described
in AGM Williams & Co.'s
Privacy Notice.
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Novated Lease
Novated leasing is a lease
arrangement that addresses the differing needs of employers and
employees, to provide a solution that benefits everyone.
A Novated
Lease is an agreement between your employer, yourself (the
employee) and the financier, which amounts to a transferal of
the obligation to meet the lease rentals under the finance lease
from yourself to your employer.
As an
employee, a Novated Lease enables you to drive the car of
your choice and to take that car with you if you change jobs.
As an
employer, it eliminates the financial burden of having to
have the vehicle listed on the company books and of having to
dispose of it should the employee leave. You simply pay the
lease rentals on behalf of the employee during their employment
with you.
 Key Features
Employees
-
Enjoy
unconditional use of the car of your choice
-
Because
the lease is portable - you have the option to take the car
with you when you change jobs
-
Flexibility in structuring your remuneration package
-
You may
be able to take advantage of fleet discounts and other
benefits
-
A
Novated Lease preserves the equity you have built up in the
car, so you can use it to upgrade or change over to a new
vehicle
Employers
- With
balance sheet ratios unaffected by motor vehicle
liabilities, the company's borrowing power remains intact
- You can
attract new employees, or provide incentives by offering to
package the motor vehicle of their choice as part of their
salary
- Your
only obligation is to pay the lease rentals
- No
unwanted car or disposal problems when the employee leaves,
as your lease obligation ends with their termination of
employment
- The
company can claim eligible income tax deductions for lease
payments and motor vehicle running costs
Options
- Flexible
repayments - lease rentals are met by the employer as part of
your salary package
- Flexible
terms - choose the length of the lease. The life of a lease
usually depends on two things: how much you want to pay per
month, and the life of the asset
- Flexible
Purchases - use the lease to purchase goods, with a minimum
finance amount of $12,000
Download a
Novated Lease Application Form
Other facilities available to you include:
Finance Lease
Sale and Leaseback
Chattel Mortgage or Bill of Sale
Asset Purchase
For further
assistance, please don't hesitate to
contact us.
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