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Leasing | Nonvated Leases

Supplier: LeaseIt

A novated lease is a lease between an employee and the lease provider which is paid by the employer.

Price Guide: POA

Nonvated leases allow for the employee to source a vehicle and have it paid through their pre-tax pay. The lease obligation ultimately vests with the employee but the payments are managed by the employer.

Advantages of nonvated leases:

  • Provides incentive for employee
  • Removes risk for vehicle i.e if employee leaves they take lease obligation with them
  • Choice of car
  • Salary packaging service for employee
  • No equipment or underlying lease risk
  • Packaging and online
  • FBT reporting available Income tax savings
  • GST savings on car
  • Car moves with you to your next employer
  • Unrestricted private use

Businesses that use novated leases

Businesses who have a current equipment lease and need a ‘like for like’ replacement.

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