prestige novation

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Information about prestige novation

Published on February 7, 2008

Author: Carolina


Slide1:  Prestige Novated Lease Slide2:  Easifleet is a fleet management company that specialise in leasing and management of vehicles Head Office in WA Our clients vary from large and small employers to individuals Our Services include: Fleet management (acquisition to disposal) Full range of finance options (including novated lease) Fully maintained and non-maintained leases Who is Easifleet? Slide3:  Salary Packaging Opportunity for tax savings within Fringe Benefits Tax (FBT) legislation Restructure salary as a combination of salary and benefit items to Reduce your gross income Pay less income tax Benefit items available Motor Vehicle Leasing Additional Superannuation Laptop Computers Slide4:  Novated Leasing A tax effective way to finance and operate a vehicle Pay for vehicle costs through fortnightly salary or combination of pre and post tax salary Your choice of vehicle: New Second Hand Your Current Vehicle Slide5:  Savings Calculated savings are calculated comparing RRP (Recommended Retail Price) with Easifleet Novated Lease finance amount. Easifleet Novated lease finance amount is determined by your employers fleet discount eligibility. RRP includes GST on vehicle, dealer delivery and stamp duty charges. Both RRP and Easifleet Novated Lease Finance amount include registration and CTP (Compulsory Third Party) charges. GST is not payable by your employer under a novated lease arrangement. Slide6:  Novated Leasing Slide7:  How does it work? It is a 3 party agreement between – Employee, Employer and Financier Two key documents Finance Lease Novation Deed (allocates responsibilities between parties) Employer pays the lease payments, running costs and deducts payments from your pre tax salary or a combination of pre and post tax Slide8:  Finance Lease Explained Lease costs determined by Amount Financed Lease Term (1 – 5years) Residual Value (% of amount financed) Residual Value set out by ATO 24 months 56.25% 36 months 46.88% 48 months 37.50% 60 months 28.13% You are responsible for the residual at lease end Any equity is yours without any tax implications Slide9:  FBT and ECM Based on actual distance traveled during the FBT year (including private use) Annual Kms Stat Fraction 1 – 14,999 26% 15,000 – 24,999 20% 25,000 – 40,000 11% 40,001 onwards 7% The Taxable Value of the car is calculated on a combination of the base value of your vehicle, the statutory fraction, days available and employee contributions. Paying for your lease out of a combination of pre and post tax salary (ECM) you can negate your FBT liability completely. Slide10:  Tax Savings Slide11:  Tax Savings Calculation above is based on a 36 month lease with a 46.88% residual. Vehicle quoted is a Holden VE Omega 3.6L Automatic, Sedan. The base value for FBT purposes is $28,939 and the amount financed is $26,928. Annual operating costs vary in line with the changes in kilometers traveled per annum. Example uses the ECM and assumes GST of 1/11 of ECM is payable. Assumes employer passes back Input Tax Credits. “Savings” refers to the difference between financing the vehicle through Easifleet Prestige Novated Lease program and financing the vehicle and operating costs from post tax income. For comparison purposes the finance arrangements for both options are identical. Example: Holden VE Omega, Automatic, Sedan Slide12:  What is Included? Handbook servicing Roadside Assistance Other maintenance (e.g.brakes) Tyres Insurance Annual registration Fuel Card Slide13:  Benefits Slide14:  Easifleet Green A progressive new program which allows you completely offset the CO2 from your vehicle and save you money Easifleet will calculate the expected carbon emissions from your vehicle and arrange to have them neutralised through tree planting We ensure your vehicle is serviced regularly at our fleet rates and provide you with a personal tyre gauge to ensure that your tyres are adequately inflated to minimise fuel consumption Slide15:  FAQ’s Do I have to have a high salary and travel over 25,000kms? How do we reduce your FBT? How do car expenses get paid? Do I own the car if I salary package it? What if I don’t spend all of my nominated packaging amount? Salary packaging consultation Slide16:  Making it Happen Choose your new vehicle and then 1. Phone: 1300 2 NOVATE (1300 2 66828) 2. Email: 3. Web: We provide quotes, including a monthly operating budget to show you what your lease will cost and how it will effect your take home salary Slide17:  Questions? Please feel free to ask any questions Scott Iriks Mob: 0407 386 695 Perry Gangemi Mob: 0417 978 258 Zac Brennan Mob: 0418 917 575 Quotes: 1300 2 NOVATE (1300 2 668 283)

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