Novated leasing for electric vehicles
There’s never been a better time to get into an EV, and with EV novated leasing 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. On top of that, the tax savings of a novated lease EV can be even greater when compared to a petrol-powered car.
Whatever motivates you, Smart makes the transition to electric simple and cost-effective with tailored electric vehicle novated lease options that bundle running costs and electric car finance into one regular payment.
Save even more tax with the Electric Car Discount
If you choose an eligible electric vehicle novated lease package, 100% of the lease and car costs come from 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 that are first registered after 1 July 2022, fall below the Luxury Car Tax (LCT) threshold (currently $91,387 in FY 2025–26 ), and have never had LCT applied at import or sale.
As a result, novated leasing can deliver real savings, reducing the overall cost of owning a novated lease electric car .
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, electric vehicle novated lease or other electric car finance 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 savings are subject to the claimable threshold. GST is not payable on the purchase price of a vehicle financed through a novated lease. Savings are calculated on the vehicle’s FBT base value, up to the claimable limit (currently $6,334 for FY 2025–26), unless an exemption applies.