Sorry, another noavted lease question. Is my fortnightly payment included GST or not? On the quotation stated only deduc

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Tony
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Joined: Thu Mar 24, 2022 1:29 pm

Post by Tony »

Sorry, another noavted lease question. Is my fortnightly payment included GST or not? On the quotation stated only deducted $563.26. When I received the novated lease term it stated deducted $650.23 per fortnight.
Alessandro
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Joined: Mon Jul 26, 2021 6:04 am

Post by Alessandro »

A fortnight? lol
Thats' too much mate. For that price you can get a Model 3 LR..
Reets
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Joined: Wed Aug 10, 2022 2:24 pm

Post by Reets »

Have you shopped around?
I just did a quick calculation with vehicle solutions with your scenario and the payments are $443/fortnight
Andrew
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Joined: Fri Sep 02, 2022 7:06 pm

Post by Andrew »

Plus these numbers are pre tax. The a real impact on your pay post tax will be equivalent to like 380 or so. I've leased previously thus way and just done it with the atto.
Ming
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Joined: Mon Jul 05, 2021 1:23 pm

Post by Ming »

EV lease don't have GST. The GST paid will be claimed by your employer and return to your budget. The finance part is usually negotiable. Take a quote from others and negotiate. Also check with employer if you can do self managed lease with your provider. That is the best option as you can source your own finance from a bank or a third party provider.
Ren0
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Joined: Thu May 19, 2022 9:24 am

Post by Ren0 »

Not sure people are comparing apples with apples here - Tony’s reduction in take home pay would be significantly less than the actual deduction.
David
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Joined: Thu Jun 02, 2022 6:16 am

Post by David »

I believe the GST is credit back looking at top table, by referring to the ‘add input tax credit’ -$1464.48 ($56.34 x 26 = $1464.48). This figure is then deducted from the lease and operating cost for the car. Thus, $16,109.16 - $1464.48 = $14,644.68 / 26 = $563.25..

$70,000 - $14,644.68 = $55,355.32 (pre tax)

Your pre-tax lease and operating cost for the car should be $563.25 not $619.59.

Best to double check this with who is managing your NL.
Zaynah
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Joined: Tue Jul 26, 2022 2:49 am

Post by Zaynah »

In a simple term, may I know how much would be the appropriate saving because this novation ? Thanks
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