Why vehicle maintenance approval makes absolute sense Two weeks ago, I had the pleasure of taking my car in for a major service. My partner dropped the car off but she called later that day to tell me the service was quoted at nearly $7,000. I was very surprised. The first question I asked was:…
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Novated Lease
(for new vehicle)
Is there any age restriction on the car?
No, there is no age restriction
How does the leaseback arrangement work?
You sell your car to Lend@bility, who pay the purchase price to you monthly, over the period of the lease. Lend@bility then lease the vehicle back to you and you pay the rental in pre-tax dollars, deducted from your pay.
Does the car remain registered in my name?
Yes
What can I package?
You can package your vehicle running costs and the lease rental on the vehicle
How does the Residual Work?
The ATO defines a the residual value of the vehicle based on the term of the contract, implying that would be the value of the vehicle at the end of the term. At the end of the term, Lend@bility still owe you the residual and you owe Lend@bility the equivalent residual. We exchange and you keep your car.
What are the benefits?
You can save thousands each year in tax and through fleet discounts
E-Bike Leasing allows Employees to obtain Income Tax & GST Savings through Salary Packaging the Purchase of a New or Used E-Bike. The Package allows individuals to pay for the E-Bike & its Running Costs with Pre-Tax funds.
Sparque E-Bikes
Sparque offers an extensive E-Bike range & is main providers. Their website offers a tailored calculator to determine how much you can save with Salary Packaging.
Does the E-Bike remain registered in my name
Yes
What can I package
The purchase of the E-Bike & its running costs.
How does the Residual Work
The residual value of the bike is based on the term of the contract, implying that would be the value of the vehicle at the end of the term. At the end of the term, you can either:
What are the benefits
You can save thousands each year in tax.
An Associate lease allows you to salary package a car your partner or spouse owns, whether still on finance or not, through a lease agreement.
Is there any age restriction on the car?
No, there is no age restriction
How does the leaseback arrangement work?
You sell your car to Lend@bility, who pay the purchase price to you monthly, over the period of the lease. Lend@bility then lease the vehicle back to you and you pay the rental in pre-tax dollars, deducted from your pay.
Does the car remain registered in my name?
Yes
What can I package?
You can package your vehicle running costs and the lease rental on the vehicle
How does the Residual Work?
The ATO defines a the residual value of the vehicle based on the term of the contract, implying that would be the value of the vehicle at the end of the term. At the end of the term, Lend@bility still owe you the residual and you owe Lend@bility the equivalent residual. We exchange and you keep your car.
What are the benefits?
You can save thousands each year in tax and through fleet discounts
EquiLease allows you to salary package a car you already own, through a sale and leaseback arrangement.
Is there any age restriction on the car
No, there is no age restriction
How does the leaseback arrangement work
You sell your car to Lend@bility, who pay the purchase price to you monthly, over the period of the lease. Lend@bility then lease the vehicle back to you and you pay the rental in pre-tax dollars, deducted from your pay.
Does the car remain registered in my name
Yes
What can I package
You can package your vehicle running costs and the lease rental on the vehicle
How does the Residual Work
The ATO defines a the residual value of the vehicle based on the term of the contract, implying that would be the value of the vehicle at the end of the term. At the end of the term, Lend@bility still owe you the residual and you owe Lend@bility the equivalent residual. We exchange and you keep your car.
What are the benefits
You can save thousands each year in tax and through fleet discounts
Novated Leasing allows Employees to obtain Income Tax & GST Savings through Salary Packaging the Purchase of a New or Used Car. The Package allows individuals to pay for the Vehicle & its Running Costs with Pre-Tax funds.
Is there any age restriction on the car
Yes, Vehicles cannot be older than 12 years, at the time the Lease Ends. i.e. a 7 year old car for 5 years will just qualify.
How does the lease arrangement work
We can assist with Vehicle Sourcing, Novated Lease Finance Sourcing & the Set Up, as well as Maintenance, of your Lease. Every Month we receive just enough money to cover your finance & running Costs, we pay the financier directly & make the rest available for you to spend on your car.
Does the car remain registered in my name
Yes
What can I package
You can package your vehicle running costs and the finance on the vehicle
How does the Residual Work
The ATO defines a the residual value of the vehicle based on the term of the contract, implying that would be the value of the vehicle at the end of the term. At the end of the term, you can either:
-Re-finance your lease (if eligible)
-Sell the vehicle
-Decide to pay it out & keep it. You can then use EquiLease to continue Salary Packaging
What are the benefits
You can save thousands each year in tax as well as fleet discounts.
