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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,…

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…

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…

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…

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…

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…

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…

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…

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…