Take out a novated lease by 17 Dec and you could earn 35K bonus Qantas Points. ***T&Cs apply.
You may be able to save on income tax with this car leasing arrangement.
With an associate lease, instead of taking a loan from a finance provider to buy a car, you lease a car from an associate – typically a spouse, partner, relative or family trust.
Deductions from your salary are made by your employer to cover your car finance and running costs, such as fuel, insurance, rego and servicing, with some costs paid from your income before tax.
Check with your financial planner to see if an associated lease could work for you.
An associate must either own or lease the car and needs to have an ABN but not be registered for GST.
They must declare lease payments for your car as income, and the combined total of this income and any other non-salary income must not exceed $75,000.
The vehicle must qualify as a ‘car’ for FBT purposes, which means it must be either:
If you need to pay upfront for any running expenses, you will need to login to the Smart portal to submit your expenses and provide us with the tax invoices so we can arrange for you to be reimbursed using the pre-tax funds we’re holding.
Any expenses you submit should be shown in Australian dollars in English. If you have incurred an expense overseas, you can also claim this within the portal.
Fuel cards
When you package an associate lease, you’ll need to select a fuel card for managing some of your running expenses. These expenses are deducted from your pre-tax salary, saving you money. We’ll ask you to choose from one of the following cards when you apply, or you can opt for both.
| Fuel Card | Fees (incl. GST) | Spending Limit |
| BP Plus Card Shell Card |
$0.30 per transaction $0.30 per transaction |
$1,500 per month $1,500 per month |
Helpful links
This is general information only. Before entering into any salary packaging or novated leasing arrangement, you should consider your objectives, financial situation and needs, and seek appropriate legal, financial or other professional advice based upon your own particular circumstances. The availability of benefits is determined by your employer. Conditions and fees apply. Smartsalary Pty Ltd, ABN 24 096 796 100, a SmartTM company.