News
April 9, 2020

What are the running costs of my car?

Do you know what your car is really costing you? You may be surprised! Your rego cost are probably costing somewhere in the vicinity of $800+ per annum and with $50 fuel per week in the tank, these running costs will add up quickly. Add on the cost of insurance, servicing, tyre replacement and ongoing maintenance and all in all,…
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News
March 16, 2020

Do I have to work in government to take up a Novated lease?

Novated leasing has been favoured by many levels of government for the last 15 years. But unbeknownst to many people, all companies can set up novated leasing for their staff. Many in payroll find the task daunting when trying to run the program internally, due to remembering to pay a staff members rego or reimbursement of fuel receipts etc. Most…
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News
March 13, 2020

Why Does My Novated Lease Have A Residual?

The team at a SPA get asked all the time, "Why does my novated lease have a residual?" A novated lease has to have a residual value at the end of the lease due to the Australian Tax Office (ATO) based legislation. This value is GST exclusive. GST is charged on the amount that is left owing on the vehicle…
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News
March 4, 2020

End of FBT Year – How to make the most of fringe benefits

Wow, the time has flown by and the end of the Fringe Benefits Tax (FBT) year is almost here. The FBT year runs from 1 April to 31 March which means that now is the time that accountants are in a flurry trying to prepare returns and audits. But for you, as an employee, it’s a great time to test…
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News
February 10, 2020

What is Salary Packaging?

What is Salary Packaging? Salary packaging, sometimes referred to as Salary Sacrificing, is an Australian Tax Office (ATO) approved way of receiving benefits, such as motor vehicles, self-education expenses, airport lounge membership and many more, by way of a pre-tax deduction. You pay for these benefits before you get taxed and then get taxed on your remaining income. This means…
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News
January 10, 2020

Can you lease a car with bad credit?

So, you have had a few hiccups on your credit file but you still need to update your vehicle. It seems like an impossible situation with difficulty of getting to and from work with an unreliable vehicle which, in turn, costs way too much to service and repair. It can seem like an endless cycle of hand to wallet without…
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News
June 27, 2019

What happens at the end of a Novated Lease?

If you are thinking about Salary Packaging, and in particular buying a car on a Novated Lease, it is important you do your research and know exactly what to expect. You have a few different options to consider at the end of a Novated Lease, and we will explain some of them here. We often get asked the following questions: What…
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True, False road sign for novated lease myths
News
June 21, 2019

Novated Lease Fears & Myths debunked for your Boss

So you got that new job, earning decent money, you're driving around in an unreliable car that burns more oil than fuel. Your mates at the barbecue the other night were talking about how they got a brand new car through work on a Novated Lease, and are going to be saving truck loads of money on the price and…
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woman compares apple with pear and her novated lease company options
News
June 12, 2019

How to choose a good Novated Lease company & get a good deal

Novated Lease Company Checklist How to choose a good provider and make sure you are getting a good deal. All employees can benefit from the savings provided by a Novated Lease Company as you can claim your car as a tax deduction in the form of a salary sacrifice arrangement. There are many benefits to a Novated lease, but not all…
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News
January 9, 2019

Runout Sales: Are you actually buying a brand new car?

It’s that time of year, the run out sales are on and you pop down to the car yard to nab yourself a bargain on a runout deal. And rightly so, it’s a great time of year to purchase, if you're careful. But not every car is such a great bargain with these deals, below are some tips to keep…
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