Electric Vehicle Novated Leasing
Are you charged with EV interest?
Australia is buzzing with excitement over the Electric Vehicles (EV) , and there’s never been a better time to jump on board. With the Electric Car Discount now applied to novated leases for electric and plug-in hybrid vehicles, it’s the smartest way to potentially save big on your next EV.
You might already guess that we’re your go-to crew when it comes to EV novated leases. Clear Lease is one of Australia’s top novated lease providers, bringing years of expertise to the table, and we’re here to make your EV dreams come true.
How Does the EV Discount Work?
Thanks to recent legislation, novated leases for eligible battery EVs, plug-in hybrids, or plug-in hydrogen fuel cell vehicles are now Fringe Benefits Tax (FBT) exempt. In simpler terms, you won’t have to cough up any post-tax contributions for EVs up to the Luxury Car Tax threshold of $89,332. This translates to potential tax savings that put a smile on your face.
The only catch? Your vehicle must be brand-new, or first held and used on or after 1 July 2022.
Read more about the FBT exemption
So, How Much Could You Save with an EV Lease?
Picture this: you earn \$80,000, and the sleek MG ZS Essence is your ride of choice. Over a five-year lease and 20,000 kilometers per year, your estimated net benefit under the EV Discount skyrockets to $26,973*. Under the old novated lease rules, your net benefit would have been a modest $10,597*. That’s a jaw-dropping potential saving of $16,376*! What’s more, you can revel in the convenience of bundling your car’s finance repayments and all regular running costs.
Cost bundling includes electricity, registration, insurance, and servicing – into one tidy pre-tax payment throughout the year. And let’s not forget, running an EV is a money-saver in itself. The Electric Vehicle Council calculates that a city-based SUV driver, covering 15,000 kilometers annually, could pocket over $135 in monthly running cost savings compared to traditional petrol or diesel vehicles. It’s no wonder we’re all buzzing about EVs!
Explore Electric and Hybrid Vehicle Offers
Choosing Clear Lease to secure a novated lease for an eligible electric or hybrid vehicle is a win-win. You’re not only looking out for your finances and convenience with novated leasing, but you’re also making a positive impact on the environment.
Clearly Better
Live your best life
Meet your Clear Lease advisor
We’re Clear Lease, the people that give you a clearly better way to save thousands of dollars in tax, on your car and all of the running costs. With our crew of experts in novated leasing working for you, you can simply enjoy driving your car, and living your best life.
