HURRY! PHEV FBT Exemption Ends March 31 – Order Now.

The fringe benefits tax (FBT) exemption for plug-in hybrid electric vehicles (PHEVs) will end on 31 March 2025. To take advantage of the current exemption, new PHEV leases must be fully settled and delivered before this date. For existing leases, any changes made after 1 April 2025—such as refinancing, extending the lease, pausing due to unpaid leave, or changing employers—will result in the loss of the FBT exemption. If you're considering refinancing, transferring, or starting a new lease, acting before 1 April 2025 could help secure the exemption for the remainder of your lease term.

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Lexus LC500H

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Thousands in potential savings await you every year, and we want to be the ones to deliver the good news! The information you share is secure and only used for the purposes of an estimate. And please remember these figures are indicative only. Get in touch for personalised numbers based on your unique situation.

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The Process

How It Works

A novated lease is a way to pay for your car and its running costs using your pre-tax income, which in the eyes of the ATO reduces your total salary and therefore the amount of tax you pay. It sounds simple, but it’s a total game-changer. Here's how it works in three simple steps.

1

You + Your Vehicle

Found the car you want? Perfect. Now, instead of you paying for your car outright, you enter into a lease agreement for the car for a fixed period between 1 - 5 years.

2

You + Your Employer

An agreement is set up between you, your employer and us. Then, your deductions for the lease (including running costs too, if that's what you want) are made by your employer from your pre-tax income. And that reduces the income tax you pay each pay cycle. Plus, your deduction amount is fixed, so you know what you’re paying for your car each month.

3

You + Leaselab

With a direct line of communication through a dedicated relationship manager, we'll help you navigate any challenges right the way through your lease. Whether it's today or five years from now, we promise you’ll always have the same level of help and service all the way through to the end of your lease.

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