How does a novated lease work?
A novated lease is a three- way agreement between an employer, employee and a financier whereby an employer leases a car on behalf of the employee. When you take out a novated lease, part of your payments come from pre-tax salary.
What is a Novated Lease Salary Packaging?
A salary packaged novated lease has significant advantages and benefits to both employees and employers. Commonly used as part of Salary Packaging arrangement enables employers to provide a significant financial benefit to the employee at little cost to the employer.