LEASING MADE EASY
When it comes to Novated Leasing, things shouldn’t be complicated.
That’s why at FleetPartners, we package everything up, which makes
leasing easy and convenient. Your company can enjoy tax savings,
cost savings, reduced administration and your employees will benefit too.
They can enjoy the ease of taking up a lease without the fuss.
It’s because we do all of the hard work for them. We ensure that
the lease makes sense financially, so they can save time and money,
whilst enjoying a great vehicle.
HOW DOES IT WORK?
Once your company signs up, FleetPartners will take care of the rest for you.
You and your employees will benefit with access to myCar – FleetPartners’
online portal. Save time and stay in control, with the convenience of
24/7 access to lease information. Employees can login anytime to
complete credit checks, order and process a vehicle – enjoying an end
to end paperless Novated Lease experience. During the course of the
lease, we will be in touch with administrative reporting like FBT and other
relevant information.
What’s in it for you?
Attract and retain valuable staff by adding value to employees’ remuneration packages
Massive reduction in administration work
Reduce your PAYG liability by reducing the taxable wages of your employees
What’s in it for your employees?
Discounts on servicing and maintenance
Reducing income tax due to pre-tax deductions
No GST on the purchase price of their new car and receive large fleet discounts
Convenience of one monthly payment
24/7 Roadside assistance
Entitlement to GST savings on fuel, servicing and maintenance
01.Our expert team will source the
car of choice, organise discounts
using FleetPartners’ purchasing
power, arrange finance and
delivery of the vehicle to your
employee’s door.
02.Throughout the lease, we’ll
communicate with your
employees regularly and offer
them personalised support with
discounts, servicing, repairs and
monthly statements.
03.At the end of the lease,
your employee has a range
of options available to them,
including refinancing or arranging
a trade-in for a newer model.
We can also help your employees
re-sell their vehicle.
THE TRUTH ABOUT NOVATED LEASES
IT WILL BE AN ADMINISTRATIVE BURDEN
REALITY
While some employers might perceive that Novated Leasing
constitutes an administrative burden, this is not actually the case.
In practice, financiers manage the admin. There is initial paperwork,
but once a Novated Lease is in operation, there is just one
monthly invoice to pay, which can be fully automated.
THE COMPANY WILL BE RESPONSIBLE FOR THE FINANCING
REALITY
As with any lender, we have credit approval processes to ensure
your employees can afford their Novated Lease.
Rather than organising a fleet of company cars, a Novated Lease
arrangement will allow each employee to take control of
their own car. This means it is not a liability to the company nor
an administration headache but purely maximising staff benefits
and retaining your valuable staff.
THE LEASE IMPLEMENTATION IS A LOT OF WORK
REALITY
It isn’t really. All we need is around an hour with your payroll
and finance teams to set everything up. From there, we help you
promote the benefit internally through one on one consultations,
ongoing special promotions and a variety of ways for your staff to
enquire directly with us.
WE’LL BE LIABLE FOR THE EMPLOYEE’S NOVATED LEASE
REALITY
Who picks up the tab if the employee leaves the business?
Simple – in this situation the employee remains responsible
for making the payments. In other words, a Novated Lease is
portable: it ‘belongs’ to the employee. Novated lease cars are not
‘company’ cars.
If an employee leaves the company, the car will not be left for
you as the employer to deal with, but will become entirely the
employee’s responsibility. In most cases they can even transfer the
lease to their new employer.
LOAN VS. NOVATED LEASE
VEHICLE LOAN AT 0%
NOVATED LEASE
Gross annual salary $80,000.00 $80,000.00
Pre-tax deductions $0.00 -$5,829.02
Taxable Income $80,000.00 $74,170.98
Tax (incl. Medicare Levy) -$19,147.00 -$17,135.99
Post-tax vehicle expenses -$14,324.81 -$4,882.06
Annual income after tax and vehicle expenses $46,528.19 $52,152.93
Annual savings with a Novated Lease $5,624.74
Assumptions;
• Cost of vehicle is $28,812.90 - the Novated Lease employee saves on the GST component which is not financed, however full amount is financed for 0% Loan.
• All running costs on 0% loan have applicable GST (i.e. Insurance, fuel and maintenance), employee saves on the GST with the Novated Lease.
• Estimated kms 15,000 per annum.
• Based on a 3 year term.
• Comparison based on 2014-2015 income tax rates.
• Novated Lease calculations based on Employer Contribution Method (ECM)
WHY NOVATE WITH US?
1300 88 22 66
fleetpartners.com.au
EMPLOYEE SERVICES
Education programs through online webinar
and seminars, one to one presentation
sessions to help your employees make the
most of their salary and available benefits
A direct 1300 number that directs to a real
person, not an automated system
Access to myCar, 24/7 Novated Leasing portal
Free vehicle sourcing service, large sale
nationwide buying power to source
competitive pricing for all Novated Leasing
customers
Independent customer tracking through
Net Promoter Score NPS.
EMPLOYER SERVICES
Dedicated implementation team to project
manage your benefits launch
Team to manage your novated changeover
Comprehensive staff training for your
payroll, finance and HR functions as you
have access to an account manager for
ongoing support
Readily accessible in-house subject matter
experts in tax, compliance, communication
and education
Reporting of data including FBT and GST
Nationwide buying power to source
competitive pricing on a range of services
National coverage, we are on hand
whenever you (or your employees) need us
State based account managers who
understand your business and local issues
as well as providing a face to face service