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Make the switch to a PHEV with a novated lease from Smart™, and you could save thousands annually.
Plug-in Hybrid Electric Vehicles (PHEVs) are becoming an increasingly popular vehicle variant, as drivers look to combine the benefits of a petrol engine for longer distances and a battery-powered propulsion for day-to-day journeys. As such, they represent a stepping stone for those who are considering the transition to an EV, but aren't yet ready to commit to a fully electric vehicle.
If you lease an eligible electric vehicle (EV) or plug-in hybrid (PHEV), 100% of the lease and car costs come from your before tax income, thanks to the federal government’s Electric Car Discount.^
The discount is available on the following new or used eligible vehicles (provided they are first registered after 1 July 2022):
Leasing a PHEV comes with the potential for significant savings. But hurry - the government's electric car discount is ending soon for PHEVs. If you take delivery of an eligible^ PHEV and the vehicle lease commences before 1 April 2025, you can take advantage of these significant tax savings.
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, plug in hybrid or hydrogen cell vehicles purchased through a novated lease up to the Luxury Car Tax limit ($91,387 in FY 2024-25). Plug-in Hybrid Electric Vehicles will only be eligible for the exemption if the vehicle is delivered, and the vehicle lease commences, before 1 April 2025. Vehicle delivery times are not guaranteed and subject to factors outside of Smart's control. Smart will not be held responsible where vehicles are delivered after 31 March 2025 due to such factors.
* Price and estimated tax savings based on the following assumptions: (1) living in NSW 2000, (2) salary: $100,000 gross p.a., (3) travelling 15,000 kms p.a., (4) lease term: 5-years, and (5) salary sacrifice using Employee Contribution Method (ECM) and FBT Exempt Method for Electric Car Discount eligible EVs. Images shown may not be the exact car that the calculations have been based on. All figures quoted include budgets for finance, charging and/or fuel, 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. Figures are based on quotes obtained by Smart in January 2025 from its dealership network and may be subject to change.
