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Australian Model 3 Waiting Room
- Thread starter rgc1990
- Start date
Correct - Rebates for electric vehicle purchases
Though it appears you still should be able to get stamp duty refunded.
PcS000
Member
Page 4 - That sucks!
Is a rebate available to cover costs under a novated leasing arrangement?
The rebate cannot be used for vehicles procured under a novated leasing arrangement.
Can you get the Stamp duty back?
It doesn't seem to mention it here? I only gave it a quick look though
The rebates are for individuals, however companies that fit certain criteria are entitled to 2 rebates total. So there's a chance that your company won't receive a rebate for your car, or if they do it may not be passed on. EDIT: refer to above post looks like no rebate for novated leases.
On the flip side you don't pay GST on the vehicle so the effect is negated and we haven't even looked at the benefit of utilising pre-tax income.
I did a basic calculation for my own individual circumstances and I still come out on top by approx 6k if I took out a novated lease for 1 year and paid out the residual. This is because for a 60k vehicle you are normally required to pay 20% as an FBT contribution (12k p.a.). Removing this cost creates a lot of room to benefit significantly.
More novated lease questions 
.
My employer uses Maxxia for salary packaging. They of course use their own in-house finance by default which has a crazy interest rate. They also have an option to do self managed and arrange all your own stuff including finance. Can I just use pepper, Macquarie etc like many people here are doing and arrange one of their EV loans to get a lower interest rate? Is there anything special about the loan I need?
Is the vehicle going to be registered in my name or the employer? If it’s the employer does that complicate things with my current order being in my name?
Really trying to get my head around all this so I can get the maximum benefit.
.My employer uses Maxxia for salary packaging. They of course use their own in-house finance by default which has a crazy interest rate. They also have an option to do self managed and arrange all your own stuff including finance. Can I just use pepper, Macquarie etc like many people here are doing and arrange one of their EV loans to get a lower interest rate? Is there anything special about the loan I need?
Is the vehicle going to be registered in my name or the employer? If it’s the employer does that complicate things with my current order being in my name?
Really trying to get my head around all this so I can get the maximum benefit.
I suggest starting a new thread in the Australia forum for questions like this. The "Waiting Room" gets so many posts that your question isn't likely to be seen by everyone who could have useful input.
Jusebert
Member
It would be because with a Novated lease you don't technical own the car, it is leased from your employer. The rebate is for NSW residents purchasing an EV. It could still be beneficial even without the rebate overall to use a novated lease if you were going to finance over 3 or more years but you would need to do the numbers.
Jusebert
Member
Best to speak with your packaging provider directly. I have had many novated leases over the years and never had a problem bringing an existing lease with me to a new packaging company but not sure how keen they'd be on giving you a choice of finance to commence but obviously they can take on any lease. Worth pushing perhaps if you can get a much better interest rate (they might let you use another finance company or drop their rate). I don't think there would be a massive impact of a slightly higher rate on the finance for a lease when weighed against the benefits of pre-tax packaging unless you are really chasing every dollar.More novated lease questions
My employer uses Maxxia for salary packaging. They of course use their own in-house finance by default which has a crazy interest rate. They also have an option to do self managed and arrange all your own stuff including finance. Can I just use pepper, Macquarie etc like many people here are doing and arrange one of their EV loans to get a lower interest rate? Is there anything special about the loan I need?
Is the vehicle going to be registered in my name or the employer? If it’s the employer does that complicate things with my current order being in my name?
Really trying to get my head around all this so I can get the maximum benefit.
Are you sure even QLD got RACQ for roadside assistance which is exclusive to QLD, but I think you can buy NRMA insurance anywhere in Australia. Check their website for quote
Jusebert
Member
Let's take novated lease discussions related to the new EV FBT exemption over to here so we don't annoy others that want this threat to be about waiting for their cars??
teslamotorsclub.com
Labor Electric Car FBT discount
Hi All, If Labor win this years election, they will be removing the Fringe Benefit Tax for electric cars under the Luxury Car Tax Threshold. https://www.alp.org.au/policies/electric_car_discount/ So Leasing may be a very viable option for getting a Tesla, especially those earning a higher...
teslamotorsclub.com
Within a few days seems typical, but it clearly varies. My VIN appeared 16 Jul, was notified by SMS on 18th, still no invoice. Others had an invoice on the same day.
Mine took just over a week - I got my VIN in the code Monday morning, 11-July, then got my Invoice yesterday evening (19-July).
We have RACQ up here, and like RACV, their price was almost twice what NRMA was, but I am still able to get NRMA insurance up here in Sunny Brisbane (actually not so sunny at the moment..)
Just googled it and wow - no NRMA insurance in Vic.....
IAG, the underwriters for NRMA Insurance also underwrite CGU in Victoria.
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