Like Sarah and Mark, more people than ever before are choosing EV. Driving ranges are longer, and there are more public EV chargers and home charging options to choose from. Best of all, thanks to the Federal Government’s Electric Car (EV) Discount and the huge potential tax savings of a novated lease, it’s never been a better time to go EV.
With the Australian Government’s Electric Car (EV) Discount, taking out a novated lease on an EV just got a whole lot cheaper. Novated leases are required by law to have a certain amount of Fringe Benefits Tax (FBT) be paid – it’s why pre- and post-tax payments are needed. With the Electric Car Discount however, a novated lease on an eligible EV is FBT exempt, meaning you don’t pay any post-tax contributions – for EVs retailing up to the Luxury Car Tax threshold of $91,387.
Disclaimer
Conditions, fees and credit criteria apply. Testimonials are presented by professional actors for demonstration purposes only.
*All eligible vehicles must be ordered before 30/06/25 (unless extended), or while stocks last. Displayed price is only available through a novated lease administered by Maxxia. Weekly costs have been determined based on the following assumptions: 1) The lease is a Maxxia fully maintained lease, 2) a 5 year term, 3) a residual value of 28.13% of the vehicle purchase price payable at the end of term, 4) Inclusion of finance and budgeted costs for: fuel or electricity, 4 replacement tyres, maintenance, roadside assistance, registration, CTP and comprehensive insurance, 5) Gross annual salary of $90,000 6) Vehicle purchased in NSW, 7) 15,000km per annum, 8) Salary Sacrifice using Employee Contribution Method (ECM). The Fringe Benefits Tax Exempt Method is only used for eligible electric vehicles under the luxury car tax threshold of $91,387. The indicative price quoted for the novated lease is based on vehicle quotations Maxxia has received within the last 45 days and does not include any optional extras. Any optional extras that you choose will affect the cost of the novated lease and residual value. If you purchase the vehicle on termination of the novated lease, GST will apply on the purchase price you pay at that time. The novated lease offer is based on the assumption outlined above, and is an indicative cost approximation of the selected vehicle and model shown and the amounts may change at the time the novated lease quotation is completed and finalised. Your individual circumstances have not been taken into account as this will affect the overall weekly cost amount and the benefits of a novated lease. These specials cannot be used in conjunction with any other offer.
^Savings shown are indicative and reflect estimated tax savings over the full-term of the lease. The total amount saved is a comparison between a novated lease based on the assumption outlined above and the purchase of a vehicle and payment of running and maintenance costs using post-tax earnings. Actual savings will depend on your personal circumstances.
Things you need to know: 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. From 1 April 2025, a plug-in hybrid electric vehicle will not be considered a zero or low emissions vehicle under FBT law. However, you can continue to apply the exemption if both the following requirements are met: 1) Use of the plug-in hybrid electric vehicle was exempt before 1 April 2025. 2) You have a financially binding commitment to continue providing private use of the vehicle on and after 1 April 2025. For this purpose, any optional extension of the agreement is not considered binding. To qualify for the EV discount, plug-in hybrid electric vehicles must be delivered by midnight on 31 March 2025. Due to high demand and stock limitations there may be some vehicles that do not meet the delivery deadline for the EV Discount. Customers are advised to confirm delivery timelines before proceeding with their order.
Maxxia Pty Ltd | ABN 39 082 449 036.
