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You agree to “salary sacrifice” a portion of your earnings in return for the benefit of a car equal to
that amount. With a Novated Lease, the lease, running costs of the vehicle and Fringe Benefits Tax (FBT) are deducted from your pre-tax earnings, and PAYG income tax is calculated on your reduced salary. This can effectively increase your net disposable income as you pay less tax.
Novated Leasing can offer a range of benefits for both employees and employers.