Novated Leasing and Salary Sacrifice from Barramundi Group come with a range of potential advantages for both employees and employers.
Novated Leasing is a form of car salary packaging. In Australia, it involves businesses leasing motor vehicles on behalf of their employees. The responsibility for the lease lies with the employee who makes lease payments through their pre-tax income (which is managed by their employer).
Novated leasing is not an option for all Australian employees, but it does provide a number of advantages in situations where it is.
Benefits for the employee include:
- Potential tax advantages
- Flexibility to continue the lease if you change jobs
- Flexibility to choose the car you want
- Control over the car’s servicing and maintenance
Benefits for employers include:
- Reduced costs pertaining to Payroll Tax and WorkCover premiums
- Reduced admin costs compared to a company fleet
- No risk of excess vehicles when staff leave
- The opportunity to offer higher salary packages to attract more qualified staff
Make An Enquiry
Barramundi Group Solutions can organise all aspects of your novated leasing arrangement, whether you come to us as an employee or employer.
Get in touch with us by calling (08) 8946 4770 to find out more about novated leasing and salary sacrifice through Barramundi Group Solutions.