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1The estimated potential tax benefit is based on a gross salary of $85,000 and the assumption that the lease would have been paid for from a combination of pre and post-tax salary. The estimated annual benefit will vary depending upon salary, employment circumstances, selected benefits, FBT and applicable tax treatment. This example assumes: that the novated lease is under a 4-year lease term, (an annual distance travelled of 15,000kms) and a 35% residual value. The base value of the vehicle for FBT purposes is $33,606. The total amount financed is $32,017 including on-road costs. The estimated annual operating costs are $14,287 which includes estimates of fuel, maintenance, registration, comprehensive insurance and fleet management fee. GST of 1/11th is payable on your ECM contributions. Input Tax Credits (ITCs) are paid as salary by the employer. State Stamp Duty rates apply.
2Your existing car is assessed by the financier and deemed leasable based on the existing merits of the car, such as market value and kilometre usage.
3Novated Lease example: Estimated potential tax benefit is exclusive of GST and is based on the assumption that you would have paid for the lease from your post-tax salary (as opposed to salary packaging those payments from your pre-tax salary or a combination of your pre and post-tax salary). Payment includes: Your car payments, fuel, registration, tyres, insurance and scheduled servicing. The estimated annual benefit will vary depending upon salary, employment circumstances, selected benefits and applicable tax treatment. The example assumes you earn $60,000 a year and live in Queensland, a 5-year lease term, an annual distance travelled of 15,000kms and a 25% residual value. The estimated annual operating costs includes estimates of fuel, maintenance, tyres, registration, comprehensive insurance and fleet management fee and are exclusive of GST. GST of 1/11th is payable on your ECM contributions. State Stamp Duty rates apply.
4BMW Inclusive servicing: Only applicable to vehicles under 12 months from date of first registration and prior to first service. Pricing based on Basic package. Scheduled servicing based on the vehicle’s Condition Based Service monitoring system for 10 years from the date of first registration of up to 100,000kms, whichever occurs first. Normal wear and tear and other exclusions apply. Scheduled servicing must be conducted by an authorised BMW Dealership.
5MINI Inclusive Servicing: Complimentary basic scheduled servicing, including Vehicle Check, is valid from date of first registration for whichever comes first of 5 years/100,000kms, and is based on MINI Condition Based Servicing or Service Interval Indicator, as appropriate. Normal wear and tear items and other exclusions apply. Servicing must be conducted by an authorized MINI dealer. Consult your preferred MINI dealer for further terms and conditions. Includes complimentary use of a MINI during service subject to vehicle availability and only available during the complimentary servicing period. The above benefits apply to the purchase of a new MINI vehicle and only to the vehicle purchased
Things you need to know: This general information doesn’t take your personal circumstances into account. Please consider whether this information is right for you before making a decision and seek professional independent tax or financial advice. 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.
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