Information for Employers
Novated leasing (also known as salary sacrificing) is a way for your employees to lease vehicles in their name. While they are working for you, you make the payments on their behalf using their pre-tax (or a mix of pre and post tax) income. Here is a quick overview of the benefits for an employer:
No cost to the employer
As each lease is in the name of your employee, there are no fees or costs for the employer. This includes early termination, or lease changes.
No fleet risk
Unlike your traditional tool of trade vehicles, a novated lease is in the name of the employee – if they stop working for you the car goes with them, leaving you with no car to rehome.
Attract and retain staff
Novated leasing is a great way for you to attract and retain staff to your organisation as a tangible benefit that adds nothing to your expenses. You are essentially able to give them a pay rise without it costing you a thing!
No fleet administration
All invoices related to each novated lease such as fuel, servicing and registration are handled and paid for by StreetFleet meaning no additional strain for your admin team.
The monthly payment for each novated lease is passed to the employer, meaning you can claim these as a direct expense on the business and any deductions that attracts.
Have a look at our novated lease calculator to see how much your employees could save!