Love cars. Love saving tax.
Maxxia’s budget easing novated leasing lets you use some pretax salary to pay for your new car and its running costs, therefore reducing your taxable income, which could save you thousands every year.
What is a novated lease?
If you could pay less tax, get a great deal and enjoy budgeting convenience and the support of our expert teams through a novated lease, why wouldn’t you?
Available on new, used and even existing cars, novated leasing is an ATO-approved arrangement between you, your employer and a finance company that lets you use pre-tax dollars to pay for a car and its expenses.
Novated leasing also allows you to bundle not only your lease payments but your car’s running costs – including petrol, charging (if yours is an electric vehicle), insurance, rego and servicing – into one convenient regular payment.
So, how does novated leasing work?
Basically, a new, used or existing car is leased in your name, via your employer, and instead of paying with the money you have left over after tax, your lease is paid for via your payroll department with funds from a combination of your pre- and post-tax salary (or fully pre-tax on eligible electric, plug-in hybrid and hydrogen fuel cell vehicles).
While fringe benefits tax might apply, salary packaging a car could lower your taxable income and reduce the cost of getting into and running your next car.
A novated lease could benefit almost anyone who needs a car. You don't have to be a big earner or drive lots of kilometres to benefit. Best of all, with Maxxia you can rest assured you’ve got the life-of-lease support of one of Australia’s most experienced novated leasing provider.
A Range of Features and Benefits
Tax Effective
Part of your payments come from your pre-tax salary, so your taxable income could be reduced and you may end up paying less income tax throughout the year.
Easy Budgeting
Say goodbye to bill-shock. We’ll work with you draw up a manageable budget covering all your lease repayments and running costs in one regular payment.
Save on GST
You could save GST on your car’s purchase price and some running costs.
Dedicated Support
You’ll have dedicated, life-of-lease access to our MyCar Customer Service and Maintenance teams. We’ll take much of the hassle out of paying for and servicing your car.
Frequently Asked Questions
I prefer vehicle ownership over leasing – why should I lease?
A novated lease allows you to use pre-tax dollars to pay for your car’s repayments and many of the running costs that you’d ordinarily have anyway – including registration, insurance and servicing – which could lower your taxable income while delivering a whole lot of budget convenience.
Plus, at the end of the lease, you have the option of upgrading to a new car while continuing to enjoy the same convenience and potential tax benefits.
How about we talk tax… and cars with budget easing novated leasing
Talk to us today. Call 1300 123 123
Important information: This general information doesn’t take your personal circumstances into account. Please consider whether this information is right for you before making a decision and seek professional independent tax or financial advice. Conditions and fees apply, along with credit assessment criteria for lease and loan products. The availability of benefits is subject to your employer’s approval. Maxxia may receive commissions in connection with its services.
Talk to us today about Salary Packaging the Maxxia way
Whether you’re ready to get started or would like to know more, we’re here to help.