There's never been a better time to buy electric - here's why
With our expert guidance and bespoke novated leasing options, we’ll formulate the perfect deal to maximise your savings and tax benefits, so you can drive a state-of-the-art electric vehicle at an unbeatable price.
Now is the best time to buy an electric vehicle (or plug-in hybrid)
On 1st July, 2022 the Australian government introduced the Electric Car Discount, which made electric vehicles and plug-in hybrids more affordable than ever.
To simplify it, if you buy an electric vehicle that’s under the luxury car tax threshold of $91,387 then the Australian government exempts you from paying any fringe benefits tax (FBT). That’s thousands in additional savings each year. It also means you can pay for your electric vehicle’s finance and all running costs before tax, which is a saving of up to 57% compared to other car purchasing options.
Using a real-life example, on a standard Tesla Model 3 this equates to a tax saving of around $13,300 per year on a 4-year lease!
Tesla Model 3 Car and running costs over 4 years
The savings speak for themselves
With an FBT-exempt vehicle, you’re paying 100% of the cost of leasing and running your car pre-tax, leading to some pretty significant savings. You also avoid paying GST on the car and other car-related expenses. Getting an electric through a novated lease can save you tens of thousands of dollars compared to purchasing it outright or using a traditional car loan. As far as no-brainers go, this would be right up there.
Save thousands in tax by driving your dream car
For Drivers
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