Novating Salary to Lease a Car?

[Guest Guest4575]

Hi - I'm hopeful that I will soon have a job lined up, and the employer does offer the option of novating salary to lease a car. I've had a look online at their leasing company (http://www.nlc.com.au), and it appears to be a great idea tax-wise?

 

Can any please advise - is it too good to be true? What are the pitfalls?

 

Thanks!

 

Ian

[deanhewitt]

Hi Ian

 

It is confusing but if you look at this site then it may help you as you can see the tx benefits online and they send you a breakdown, if you can make sense of it. http://www.novatedleasedeals.com.au/#request.pagepathonly#

 

I was looking for a similar thing for when I come over in November but have agreed that the company opt for a fully maintained operating lease with all costs to be incurred by the company.

 

For personal tasation the the novated lease I think is the best option, the only thing to be careful with is if you leave the companyyou are still liable for the car.

 

I think you can buy a car up to 3 years old and put that through your novated lease.

 

Hope this helps

[Guest Jillie14]

Clickhere:ssign15:

 

The car can be up to 8 years old at the end of the lease

 

If you need any more information just let me know

[Guest alanjuliecole]

I also think with some of them (mine anyway) you have to be employed for 3 months before you are considered to novate a lease on a vehicle.

[liloharry]

We arranged most of the paperwork for our novated lease whilst we were still in the UK, once we arrived we picked a car & after only 1 day of employment we were able to collect it, I like the novated lease as everything is included, insurance, servicing, fuel & we even have an allowance for washing it..