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Frequently asked questions
Salary packaging - also known as salary sacrificing - a car is where you bundle together the finance and running costs of your car into one easy package which comes out of your salary each pay. The benefit to doing this is you save income tax on the running costs of your car which you will have to pay anyway. You also don’t pay tax on the purchase price of the car, saving you more money in the long-term.
Yes, finance is subject to approval from our panel of financiers.
Yes, you need to be an employee paying income tax to unlock the benefits of novated leasing. If you work for any not-for-profit organisations, you can also be eligible.
You can lease the car minimum 12 months, and maximum 60 months.
Yes, you can take out as many as you can afford and save tax with a salary sacrifice on each car in your household.
You have a few options,
• Transfer your lease to your new employer (subject to employers’ approval).
• Continue to pay the lease and running cost yourself after tax.
• Payout the vehicle and own it outright.
Yes, you will need to arrange this with your chosen provider and cover the initial premium up front, however you will be reimbursed once we have collected enough pre-tax funds.
The running costs budgeted for in your lease are flexible, meaning you can increase/decrease how much you contribute for your running costs as life changes.
Yes, it’s up to you to locate the vehicle and negotiate the price. The car can come from a dealership, wholesaler, auction or even private sale. Good to have a pre-approval before you start shopping.
Yes, this is possible – speak to a consultant to guide you.
There is no kilometre restriction, but typically the vehicle must be under 8 years old by the end of the lease. This is judged on a case by case basis so check with your leasing specialist.
Yes, anyone can drive your vehicle. If they are a regular driver it’s a good idea to consider having them added to your insurance policy to avoid a higher excess.
Yes, you can, you are free to treat it as your own vehicle. Any major modifications should be reported to the insurance company though.
Any surplus in your maintenance account is returned to you at the end of the lease.
You have a few options depending on the age of the vehicle:
• Salary Package a new vehicle
• Salary Package your current vehicle again*
• Payout the residual/balloon and end the tax savings – own outright.
Yes, you can with Easi. You can novate an electric vehicle and save money on expenses such as rego, comp insurance, servicing, tyres, roadside assistance and car washing.
The Motorpass card is accepted at all major service stations as well as many of the independents. Each service station does have a right to refuse the card, however this must be advertised by the service station.
If easifleet have arranged your roadside assistance it will be with ULTRAPLUS who can be contacted on 1800 819 093. Please have your registration number ready to quote.
Please call easifleet on 1300 266 828, we will guide you through the process.
You can find an “Expense Reimbursement” form on our website http://www.easifleet.com.au/resources-and-forms/forms/ just follow the instructions on the form.
Simply have your agent contact easifleet on 1300 266 828 and ask for an “authorisation”. Easifleet will then pay the agent directly.
Simply head to our website to complete a “Maintenance Package Adjustment” form:
http://www.easifleet.com.au/resources-and-forms/forms/ just follow the instructions on the form.
In order to salary package the running costs of your vehicle, you must have a Novated lease, which means your car must be under finance.
There is no kilometre restriction, but typically the vehicle must be under 8 years old by the end of the lease. This is judged on a case by case basis so check with your leasing specialist.
a) Pay the residual and own the car outright
b) Extend the lease by rolling the residual value over into a new lease
c) Sell or trade in the car in with the dealer supplying your new car, the dealer will then pay your residual for you.
The ATO has set guidelines for minimum residual values. You can only reduce the residual below those guidelines if you are travelling a high number of kilometres each year
Absolutely, there is no limit on the number of leases you can have.
In most cases 100% of the FBT is offset through the ECM/ post-tax contributions. The only time we don’t is when it’s beneficial for the employee. Ask one of our leasing specialists to advise what the most beneficial option for your situation would be.
Not at all, your group certificate will report your new reduced taxable income, factoring in your salary packaging. You are then able to use the adjusted group certificate to do your tax as normal.
Any surplus in your maintenance account is returned to you at the end of the lease.
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