Leave it to your employer
What’s included
- Routine maintenance & servicing
- Tyre replacement
- Vehicle registration renewals (including CTP renewals where required)
- Comprehensive Car Insurance renewals
- Detailed reporting is provided to both the employer and employee
- Caltex Fuel StarCard (provides a fuel discount off the pump price) billed on a monthly basis
How do I apply?
To apply for a novated car lease, call our Novated Leasing Centre on 1300 888 870.
Frequently asked questions
It’s a salary packaging tool, where an employee can include a car as part of their earned income. It must be agreed upon by all three parties – the employee, their employer and the financier (such as PowerTorque Finance). The responsibility of payment then shifts to the employer, who pays the monthly rentals from the employee’s wage.
A novated car lease can give you a range of tax benefits, such as:
- GST credits (input tax credit), on the initial vehicle purchase (capped in accordance with the Luxury Car Limit).
- GST credits on vehicle running costs including maintenance, tyres and fuel.
- Fringe Benefits Tax (FBT), which can lower your tax liability when you package all or a significant amount of the vehicle lease and running costs through your pre-tax (gross) salary.
The payment obligations will revert to the employee, who may be able to novate the lease to their new employer.
For more information please refer to our Customer Complaints Policy
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Disclaimers
The information on this website is of a general nature and for information only. Nothing on this website constitutes or should be considered to constitute legal, taxation or financial advice. Before making a decision about any of the products and services featured on this website, you should consult with your own independent legal, taxation and financial advisors, who can advise you about your personal circumstances.
It is recommended that you seek appropriate advice from a taxation consultant or financial adviser. PowerTorque Finance is a division of Toyota Finance Australia Limited ABN 48 002 435 181, AFSL and Australian Credit Licence 392536.
