Think electric cars and plug-in hybrids are too expensive? Think you have to wait a few more years before it’s your turn? The wonderful and exciting reality is that you can finally stop dreaming. Your time is now.
And the best way to get into an eligible electric car or plug-in hybrid is with a novated lease, because then you could be eligible for the Australian Government’s Electric Car (EV) Discount. Potentially saving you thousands in tax.
Latest Electrifying Offers
What is FBT and why you don't need to pay it
FBT isn’t the sort of thing you chat about at a party. However, knowing about it will help make your electric dreams come true. Put simply, FBT stands for Fringe Benefits Tax, a cost added to business–related vehicles. With one fantastic exception. You guessed it. Eligible electric or plug-in hybrid vehicles with a novated lease, and worth less than $89,332, do not attract FBT. If you’re awake to this exemption, you could save thousands. And be driving an electric car a lot sooner than you dreamed. Let’s talk.
Similar cost per week. But yours is a new electric car.
Here is an example of how the Electric Car (EV) discount could save you thousands.
The electric car’s driveaway price is over $20,000 more, yet you could pay less per week than the petrol car.
Both based on $80,000 salary, 20,000kms and a 5 year lease term
Forget the myths – you could benefit, too!
The Most Common EV Myths
Thanks to the Govt’s Electric Car Discount and a novated lease with RemServ you could save you thousands on a new EV
Charging times are decreasing as technology evolves and more EVs hit the market.
More longer-range electric vehicles are hitting the market every day – and the Government are rolling out vast charging infrastructure.
Things are on the up in the wake of the car shortage, with a range of new makes and models hitting the market this year.
Most new EV sales include a basic charger which connects to a normal power outlet at home and are often sufficient for maintaining a full charge while commuting or driving to the shops or kids’ activities.
Live your electric dream.
*All eligible vehicles must be ordered before 15/01/24 (unless extended), or while stocks last. Displayed price is only available through a novated lease administered by RemServ. Weekly costs have been determined based on the following assumptions: 1) The lease is a RemServ fully maintained lease, 2) a 5 year term, 3) a residual value of 28.13% of the vehicle purchase price payable at the end of term, 4) Inclusion of finance and budgeted costs for: fuel or electricity, 8 replacement tyres, maintenance, roadside assistance, registration, CTP and comprehensive insurance, 5) Gross annual salary of $80,000, 6) Vehicle purchased in QLD, 7) 20,000km per annum, 8) Salary Sacrifice using Employee Contribution Method (ECM). The Fringe Benefits Tax Exempt Method is only used for eligible electric vehicles under the luxury car tax threshold of $89,332. The indicative price quoted for the novated lease is based on vehicle quotations RemServ has received within the last 45 days and does not include any optional extras. Any optional extras that you choose will affect the cost of the novated lease and residual value. If you purchase the vehicle on termination of the novated lease, GST will apply on the purchase price you pay at that time. The novated lease offer is based on the assumption outlined above, and is an indicative cost approximation of the selected vehicle and model shown and the amounts may change at the time the novated lease quotation is completed and finalised. Your individual circumstances have not been taken into account as this will affect the overall weekly cost amount and the benefits of a novated lease. These specials cannot be used in conjunction with any other offer. From 1 April 2025, a plug-in hybrid electric vehicle will not be considered a zero or low emissions vehicle under FBT law. However, you can continue to apply the exemption if both the following requirements are met: 1) Use of the plug-in hybrid electric vehicle was exempt before 1 April 2025. 2) You have a financially binding commitment to continue providing private use of the vehicle on and after 1 April 2025. For this purpose, any optional extension of the agreement is not considered binding.
^Savings shown are indicative and reflect estimated tax savings over the full-term of the lease. The total amount saved is a comparison between a novated lease based on the assumption outlined above and the purchase of a vehicle and payment of running and maintenance costs using post-tax earnings. Actual savings will depend on your personal circumstances and may vary depending on the vehicle model and price.
Things you need to know: Conditions and fees apply, along with credit assessment criteria for lease and loan products. The availability of benefits is subject to your employer’s approval. RemServ may receive commissions in connection with its services. Actual vehicle price is based on specific vehicle and accessories, prices and savings may vary based on additional options selected with vehicle. RemServ does not act as your agent or representative in respect of the purchase of any vehicle. RemServ does not provide any advice or recommendations in relation to the purchase of any vehicle. Remuneration Services (Qld) Pty Ltd | ABN 46 093 173 089 (RemServ)