Electric vehicles (EV) and Plug in Electric Vehicles (PHEVs) now attract special tax treatment

Even if you don’t have any business usage you can get a tax deduction through your salary on an eligible EV or PHEV for the finance and running costs

The SIX benefits that come with salary packaging an EV or PHEV via a novated lease

  • Tax savings: One of the significant benefits of a novated lease on an eligible EV or PHEV are the potential tax savings. The lease payments are deducted from your pre-tax salary therefore reducing your taxable income.

  • Fixed Lease Payments: Unlike a variable home loan or car loan, a novated lease finance payments are fixed for the term of the lease.

  • Save on GST:  Your salary deductions to pay for the finance and running costs of the eligible EV or PHEV excludes GST so you save more.

  • Charging at home:  You can charge your EV or PHEV at home, thus saving on the cost of electricity.

  • Maintenance and running cost benefits: Novated leases can include the cost of maintenance and running expenses. This can cover services, repairs, tyres, electricity / fuel, registration, insurance, roadside assistance and even car washes.

  • Portability: If you change jobs, a novated lease can typically be transferred to your new employer, providing you with continued access to the benefits and convenience of the lease arrangement.

Some of our EV Specials

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* Weekly costs have been determined by comparing the post-tax position of including a car through a Novate One vehicle package with no leased vehicle and are based on, 1) a 60 month term, 2) a residual value of 28.13% of the vehicle purchase price payable at the end of term, 3) Inclusion of finance and budgeted costs for: electricity, replacement tyres, servicing, registration and comprehensive insurance, 4) Gross annual salary of $90,000, 5) Vehicle purchased in NSW, 6) Annual km of 15,000, 7) Salary sacrifice using all pre-tax deductions. The novated lease offers are only an indicative approximation and availability on the selected new vehicles and models shown and may change at the time the lease quotation is completed and finalised. Your individual circumstances have not been taken into account and will affect the overall weekly cost amount and the benefits of a novated lease. This information is not intended as a substitute for any specific financial and tax advice which you should obtain. Credit criteria fees and charges, terms and conditions apply. These specials cannot be used in conjunction with any other offer. One Car Group Pty Limited ABN 48 626 483 163.