Novated Leasing - Electric Cars
Lease an eligible electric vehicle with 100% before-tax dollars via novated leasing.
The Electric Car Discount could help you save on tax through a novated lease.
Goodbye FBT, hello before-tax payments and potentially lower running costs.
If you’re looking to join the thousands of Australians who have switched from petrol to electric, your timing couldn’t be better. That’s because the Australian Government’s Electric Car Discount includes FBT exemptions on eligible battery electric vehicles through novated leasing – potentially saving you thousands.
As one of Australia’s largest novated lease providers, we’re ready to help get you into an EV of your choice. We are working closely with key suppliers to help you make a confident choice – for yourself and the environment. Check out our current car deals below.
Get Behind the Wheel of an FBT-Exempt Electric Vehicle
Because of the FBT exemptions tied up with the Electric Car (EV) Discount, you could enjoy 100% pre-tax payments on eligible EVs retailing up to the Luxury Car Tax threshold of $91,387*.
This could mean making similar payments on an EV that you would on an equivalent petrol car – despite the EV potentially retailing for considerably more!
How Much Could You Save on an EV Novated Lease?
Electric Vehicles are currently more expensive than their petrol counterparts. However, with the Federal Government Electric Car (EV) Discount and novated leasing, you could pay around the same amount for a new electric car as an equivalent petrol car – potentially saving you thousands of dollars.
In this example, the Tesla 3’s driveaway price is over $20,000 more than the Mazda CX-5, yet the cost per week is comparable.
Electric Vehicle Calculator
Ready to crunch the numbers? Try our EV novated lease calculator.
Electric Vehicle News & Reviews
EV Education Hub
Common Myths: Eco-Friendly Vehicles
We respond to five of the most common misconceptions about Electric Vehicles.
"They’re expensive"
While the upfront costs of EVs are currently more expensive than conventional petrol vehicles, powering an EV costs an estimated 70 per cent less per kilometre, according to the Electric Vehicle Council.
EVs have lower running costs than regular petrol-powered cars, given they have no engine, transmission, head gasket or spark plugs. Consequently, you likely won’t have to service an EV as regularly.
Battery EVs don’t require petrol or diesel. For context, the average Australian drives 15,000 kilometres a year, spending more than $2,000 on fuel. It’s estimated an EV also travelling 15,000 kilometres costs around $600 per year – that’s a $1,400 annual saving.
"You don’t get far on one charge"
According to the Electric Vehicle Council, current EVs have an average battery range of nearly 480km but with ongoing technology advancements some new models can get to 550km on a single charge.
With the average Australian driving 38 kilometres a day, an EV owner who carries out short trips can go for 10 or more days without needing to recharge.
"There’s nowhere to charge them"
Most new EV sales include an entry-level charger which simply connects to a normal electricity power outlet that you would have at home. These basic chargers are adequate for maintaining a full charge for many people doing a daily work commute or trip to the shops.
Public charging solutions are available across Australia. It’s easy to find the nearest EV public charging stations with sites like the Plugshare EV Charging Station Map, check it out here.
Charging times are decreasing as technology changes and more EVs hit the market. Entry-level chargers supplied with EVs can take up to 30 hours to fully charge a vehicle; this timeframe reduces to overnight with higher capacity chargers available at an optional cost.
Public chargers can be much faster – with super-charge stations adding up to 300 kilometres of range in 10 to 15 minutes, and regular stations often doing the job in less than five hours.
With the convenience of home-charging – either overnight or during periods of the day that you don’t need to drive – the need for faster chargers may not be a pressing requirement for some people.
The potential benefits of electric cars and EV novated leasing with Maxxia.
Pay with before-tax dollars
Payments on eligible EVs up to a cap of $91,387 are paid from your pre-tax salary when you enter into a novated lease. You could also save GST on some of the car’s running costs, where your employer opts to pass on input tax credits to you.
Convenience
We can tap into our nationwide dealer network to source and potentially negotiate a great price on an EV, arrange all the paperwork and insurances, and draw up a manageable regular-repayment budget for covering your finance and running costs.
Maxxia Marketplace
An EV novated lease with Maxxia means access to great car brands and deals across the country.
Environmentally friendly
By burning less fuel, electric cars emit fewer emissions. Newer models could also put electricity back into the grid, which could help you save on your energy bills.
Cheaper to run & maintain
According to the Electric Vehicle Council, an EV driver clocking up 12,000 kilometres each year would spend around $500 in recharging, compared to approximately $2,500 for a petrol car, as well as have less servicing costs due to fewer moving parts.
Fun to drive
With noiseless electric motors and the ability to deliver instant full torque, EVs can make for a quieter, zippier and more comfortable drive.
FAQs
Got more questions about salary packaging an eco-friendly car? We’ve got you covered.
*For the 2024/25 financial year.
^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.
^Novated Lease example: The estimated potential tax benefit is over the full-term of the lease, is exclusive of GST and is based on the assumption that you would salary package using Employee Contribution Method (ECM) or Fringe Benefits Tax Exempt Method. The Fringe Benefits Tax Exempt Method is only used for eligible electric vehicles under the luxury car tax threshold of $91,387. Payment includes: Your car payments, fuel or charging, registration, tyres, insurance, scheduled servicing, fleet management fee and are exclusive of GST. The estimated annual benefit will vary depending upon salary, employment circumstances, selected benefits and applicable tax treatment. The example assumes you earn $90,000 a year, a 5-year lease term, an annual distance travelled of 15,000kmsand a 28.13% residual value. GST of 1/11th is payable on your ECM contributions. State Stamp Duty rates apply. PAYG tax rates effective 1 July 2024 have been used.
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 is no longer considered a zero or low emissions vehicle under FBT law. However, your employer 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 using the vehicle for private use 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 have been 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.
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