Novated Lease Terms and Conditions

The information provided by this calculator is based on certain assumptions. It does not take into consideration your personal circumstances and is intended to provide an indicative benefit figure only – your individual benefit will vary depending on your personal situation. Annual salary represents your gross taxable salary and does not take into consideration any other salary packaging arrangements you might have. The vehicle value entered is the ‘drive-away’ cost of the vehicle including GST, stamp duty, dealer delivery and registration.

We have made assumptions on running costs including fuel, servicing, tyres, financing costs, registration and insurance, based on Queensland running costs of small, medium, large, luxury, sports, small 4WD and large 4WD vehicles. The calculator does not allow for any Input Tax Credits but has included an allowance for Luxury Car Tax that may be payable on luxury cars.  We have assumed you are employed by the Queensland Government, and have therefore not included an estimate for the luxury car depreciation allowance. Luxury car and V8 restrictions imposed by your employer may apply. We have assumed the lease is self-managed, the Employee Contribution Method is used and Goods and Services Tax (GST) on Employee Contribution Method (ECM) has been applied.  An average administration fee has also been included. GST is included in the lease repayment, and you may be entitled to receive a credit back for this amount from your employer. We have made assumptions on the travel distance on the selected ranges within the calculator, these are 14,000 km for (1 – 14,999 km), 20,000 km for (15,000 – 24,999 km), 30,000 km for (25,000 – 40,000 km) and 41,000 km for (40,001 + km).  Tax rates effective 1 July 2010 have been used.  Statutory Fractions applicable for leases entered into for the period between 7.30pm 10 May 2011 – 31 March 2012 have been used.  Where you travel greater than 25 kilometres each year, the estimated savings from 1 April 2012 will vary as a result of transitional legislative changes to Statutory Fractions applicable for leases. One-off Flood levy applicable for financial year 2011-2012 has not been included in the calculations.