There’s never been a better time to get into an EV, and with a novated lease from Smart™ you could save thousands each year.
Looking for a greener, more sustainable way to drive? Electric vehicles (EVs) can offer lower running and maintenance costs, plus the convenience of charging at home. And the tax savings of a novated lease can be even greater with an EV compared to a petrol-powered car.
Whatever motivates you, Smart makes the transition to electric simple and cost-effective.
If you lease an eligible electric vehicle, 100% of the lease and car costs come from your before tax income and are exempt from fringe benefits tax (FBT), thanks to the federal government’s Electric Car Discount^.
The discount is available on eligible^ new or used fully-electric vehicles - provided they are first registered after 1 July 2022 and under the Luxury Car Tax limit, which is $91,387 in FY 2025-26.
Novated lease example – an EV owner’s account
Hear first-hand how a novated lease with Smart is saving this EV owner an estimated $60,000 in tax over a five-year lease.
Maximise EV Driving Range on Road Trips
To ensure a seamless and stress-free journey, optimising your driving range is paramount. Here are some practical tips to help make the most of your EV's range during your road trip.
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 Smart™ company.
^Fringe Benefits Tax (FBT) exemption available for eligible electric or hydrogen cell vehicles purchased through a novated lease up to the Luxury Car Tax limit ($91,387 in FY 2025-26). See the Australian Taxation Office website for full eligibility criteria.
* Fortnightly pricing represented in this email is based off the following assumptions: (1) living in NSW 2000, (2) salary: $100,000 gross p.a., (3) travelling 15,000 kms p.a., (4a) lease term for BMW iX1 eDrive 20: 4-years, (4b) lease term for all other vehicles: 5-years, and (5) salary sacrifice using FBT Exempt Method for Electric Car Discount eligible EVs. All figures quoted include budgets for charging, servicing, tyres, maintenance, Vero by Suncorp comprehensive motor insurance, Hydro Platinum Pack and re-registration over the period of the lease. Vehicle residual, as set by Australian Taxation Office, is payable at the end of lease term. The exact residual amount will be specified in your vehicle quote. Images are for illustration purposes only.
^^GST is not payable on the purchase price of a vehicle financed through a novated lease (GST savings are calculated on the FBT base value of the vehicle, up to the claimable limit [$6,334 in FY 2025-26] unless exempt).
