What happens at the end of a Novated Lease?

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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 happens when my Novated Lease ends, and what should I do? Do I refinance the same car? Do I buy a new vehicle? Do I pay out the vehicle? Do I dispose of the vehicle? What is the process when I near the end of my lease? Will I be contacted when I near the end of my Novated Lease? How long before the end of lease does SPA contact? What can help me prepare for the end of my lease?   Do I refinance the same car? For many…

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True, False road sign for novated lease myths

Novated Lease Fears & Myths debunked for your Boss

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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 running costs of the car. The thought of saving a decent chunk of tax piques your interest, so you do some Googling, find a car and head into work armed with a request to do a Novated Lease Salary Sacrifice through your current employer. The conversation normally goes like this. So I want to buy a new car on a Novated Lease. I’ve got the info sorted, are you happy for me to do it? Then the Boss unleashes a tirade of questions and fears What’s a Novated Lease? Novated…

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woman compares apple with pear and her novated lease company options

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

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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 Novated Lease Companies are the same. As your Novated Lease is made up of many components, it is really important you know exactly what you are dealing with before making a decision. We consider ourselves market leaders in providing honest, transparent Novated Lease consulting services, making sure you get the right deal. We have analysed the industry and compiled a Checklist you should run through before making the final decisions on choosing a good, honest Novated lease Company.   How to Choose a trustworthy Novated Lease Company and make sure you…

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

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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 an eye out for. 1. Has the car been pre-registered? Has the selling dealer already registered the motor vehicle, if so you may be missing some of your new car warranty. If the car was registered back in September, for example, you could be missing 3-4 months warranty before you even left the driveway. It’s not a problem now, but in 3-5 years as your warranty expires and the warranty doesn’t match your annual service cycle, you could be in for a nasty shock, or bill. 2. Where has the…

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What is Salary Packaging?

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What is Salary Packaging? Salary packaging 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...
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Kia Rio Car Review: Built to last

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Are you looking for a low-cost option as a second runabout car for the family? Or maybe a first car for your son or daughter? Look no further, at only 15k, the Kia Rio is the battlers bargain. While the Kia’s price range used to be synonymous with the bare basics, the new Rio gives it’s low-cost rivals something to be worried about. Head into your local Kia Showroom, there is a Kia Rio waiting for you to get behind the wheel.   Total Confidence with Kia Rio’s 7 Year Warranty Before you scoff or spit your tea and coffee across the kitchen table, consider warranty. On a Novated lease, this car on road for an automatic with 7 years warranty is under 15k. Now think about what you would get second hand for 15k? A 3-year-old Corolla, albeit slightly larger, but it will have 60,000kms on the clock or…

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Hyundai i30 Elite Review: Perfect balance of simplicity, comfort and responsiveness

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Hyundai, pure and simple, I take my hat off to you. I drove your i30 Elite for 24 hours and almost fell in love. And this from someone who normally only drives a car if it has a minimum of 300hp. Your car was easy to use, it was well equipped and got the job done. There was no need for a 5 minute Google on how to use the sat nav. All that was involved was for me to plug in the Apple CarPlay and away I went. The simplicity was refreshing. The i30 has every feature a new first car buyer wants from sat nav to folding electrical mirrors. It’s on-road handling for a Korean car is immaculate and gives enough feedback to let the driver know there is an issue or poor surface below. A far cry from some of the Japanese built and supplied products, such as…

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Regional & Remote Area Employees: Avoid Payment Summary Shock

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Wow, the year has gone by fast, with only another twenty-four Tuesday’s till Christmas. Apart from the cold weather, the Origin and the lack of motivation to go outside and get moving, there is one thing on everybody’s radar, Tax time. And therefore, with this comes Payment Summary Shock, or PSS, as it’s known in accountant circles. Symptoms usually seen or associated with this conundrum are bewilderment, the occasional piece of blue language and ultimately, frustration. Most people take their Payment Summary into the accountant to file a return and are often met with the accountant shaking their head and being told that there is nothing they can do about the hideous amount of tax they have just donated to Scott Morrison and Uncle Malcolm. Strangely enough, there is something you can do to change this and this time of year can be a great time to motivate yourself. Don’t let Payment Summary…

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