Electric Vehicle (EV) Novated Lease
Electric Vehicle (EV) Novated Lease

Electric Vehicle (EV) Novated Lease

Package an electric vehicle and save with novated leasing

The Australian Government’s Electric Car Discount policy provides an exemption from the Fringe Benefits Tax for some electric and plug-in hybrid vehicles. Which means with EV salary packaging, you can now get a non-luxury electric vehicle and enjoy the benefits of novated leasing.

As one of Australia’s leading novated lease providers, we know everything there is to know about the policy, the electric vehicle market, and what potential savings are in store for you. Enquire about getting an EV novated lease with Fleet Network today!

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Electric car leasing made easy with Fleet Network

The Electric Car Discount policy combined with the performance, efficiency, and environmental benefits of electric cars is fast tracking the availability and affordability of EVs for the Australian market.

Securing a novated lease on an electric car in Australia gives you the stress-free convenience of bundling your finance repayments with your running costs – including power usage, registration, servicing, insurance, and more – into regular pre-tax payments.

Our expert team will give you the full picture on pricing, tax savings, discounts available, and benefits you can unlock by opting for an electric or plug-in hybrid vehicle under a novated lease.

4 hour response time!

What you need to know about EV novated leasing

Vehicles covered

From 1st July 2022, getting an EV novated lease means you may be exempt from FBT on eligible electric cars. The Fringe Benefits Tax exemption covers zero or low emissions vehicles including battery electric vehicles, hydrogen fuel cell electric vehicles, and plug-in hybrid vehicles under the $84,916 threshold.

New and second-hand cars qualify

You can salary package a new or used EV model of your choice. The second-hand model must have a first retail sale of 1 July 2022 or later.

All your running costs, covered

You’ll enjoy the benefit of bundling all your running costs with EV novated leasing. This includes registration, insurance, servicing, new tyres, charging, and more, included in your repayments.

Flexible options, always

You’ll be provided with different options throughout your EV lease and prior to its expiry. Whether you want to purchase, sell, or refinance, or upgrade to a new car, the choice is yours!

Choose from a growing market of electric vehicles

We can source the electric vehicle of your dreams. Whether you know what you want or need options to understand the market, we provide all you need to know on brands, makes, models and current EV lease specials available.

Vehicles currently available for an EV novated lease with FBT exemption include:

Find out how much you can save with an electric car novated lease

This quote provides general information only, does not constitute financial or personal advice or a binding offer or quotation, and should not be relied upon by users. 4 hour response time!

Electric Vehicle

Are electric vehicles exempt from the Fringe Benefits Tax?

In short: yes, they are! There are certain criteria EVs must meet for them to be exempt from the FBT.

The policy applies to battery electric vehicles and plug-in hybrid electric vehicles. PHEVs will not be eligible from April 1, 2025 as they will no longer be considered a zero or low emission vehicle under the FBT law.

Which EVs are eligible for Fringe Benefits Tax exemption?

Non-luxury battery electric and plug-in hybrid models are eligible, up to a maximum purchase cost of $84,916. The vehicle must first be registered after July 1, 2022.

Is it worth novated leasing an electric car?

Absolutely. Thanks to the Electric Car Discount, current or aspiring electric vehicle drivers can now enjoy the benefits of novated leasing previously unavailable to them. If you have been interested in getting an electric vehicle but held off due to the cost, you now have an affordable option to own an EV with a novated lease.

By novated leasing an electric car, you don’t have to pay GST on the upfront price of your vehicle and bundle all your running costs such as charging, insurance, registration, tyres and servicing, in your repayment. Your repayment is taken from your pre-tax earnings, so you end up with more of your own income and save on tax.

Interested but unsure how to start the novated leasing process? The Fleet Network team will guide you by setting up and managing your lease for a stress-free, easy process. Contact our team to get started with a quote that is tailored to you and your circumstances.

Can I get a Tesla on a novated lease?

Yes, you can! Any Tesla can be packaged as a novated lease. Variants of the Tesla Model 3 and Model Y are also eligible for FBT exemption. Contact us for a quote tailored to you.