Time to upgrade ?
A novated lease is a 3‑way arrangement between an employer (us), an employee (you) and a financier whereby an employer leases a vehicle on the employee’s behalf. A vehicle is leased in your name, via your employer, and your lease and running costs are covered using funds from a combination of your before and after tax salary.
You can either opt to have a fully maintained lease where all the running costs of the vehicle are included in the lease, or not. When you choose against a fully maintained lease, only the cost of the vehicle is included in the lease repayments. However you can still submit receipts for the running costs such as registration, insurance, fuel, servicing etc to Advantec Payroll Management and we’ll reimburse you for these as a pre-tax reimbursement under our salary packaging arrangement. Either option provides you with the benefits of a novated lease.
And because your lease repayments and any reimbursements for running costs are taken out of your pre-tax earnings, you’ll help reduce your taxable income and have more money in your pocket.
Here at Advantec Payroll Management, we offer you the flexibility of leasing cars and/or motorcycles, because everyone’s different. And we can put you in touch with our novated leasing broker who can offer you competitive finance on your chosen vehicle, including second hand or a vehicle you might already have finance against.