Novated leasing for electric vehicles
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.
What makes EVs the smarter choice?
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.
Save even more tax with the Electric Car Discount
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.
Learn from women driving the EV shift
Join our webinar on Friday, 20 March, at 1pm, to hear real-life stories, useful advice and answers to the questions you've always wanted to ask.
News and reviews
Rising fuel costs make switching to an EV more appealing than ever
Explore the difference between petrol versus EV running costs, why EV ownership is becoming more accessible, and how a novated lease can make the switch simpler and potentially more affordable.
An EV road trip from Sydney to Merimbula and back
Ever wondered what it’s like to take an electric vehicle on a long journey? One of our Smart team members put their BYD Atto 3 to the test on a scenic round trip from Sydney to Merimbula and back during the busy Christmas holidays.
Frequently asked questions about novated leasing and EVs
Important information
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).