How Aussie drivers are saving even more with novated leases on EVs

Aussies looking to reduce the amount of annual income tax they pay are opting for electric vehicles, as they can save thousands of dollars more compared to a standard car.????

Thanks to the Electric Car Discount, EVs priced under $89,332 (plus on-road costs) are exempt from the 47% Fringe Benefit Tax (FBT) that applies to most other cars on the market.??

There is also a 5% reduction in Import Tariffs, further reducing the price of EVs under this sum.??

There’s no doubt that more Aussies are turning to EVs, particularly due to the sizeable savings on offer.??

The concessions mean that Aussies who finance their EV and running costs through a novated lease can save up to 57% compared to traditional finance.??

For example, on a standard Tesla Model 3 this equates to a mega tax saving of around $13,300 per year on a 4-year lease.??

The leaselab difference

As your novated lease provider, we take care of the vehicle’s price, running costs, performance and charging availability.???

An additional bonus for our EV customers is they have access to the largest and fastest-growing charging network in Australia, due to our partnership with Chargefox.?

The EV network has more than 1,500 public charging stations and our charging inclusion is rare, as many other leasing specialists don’t bundle it into your recurring payments.????

A survey by Finder shows almost 2 in 5 car buyers (39%) said they would buy an electric or hybrid vehicle in the next 12 months, which means an extra 2 million electric or hybrid vehicles could be on our roads within a year.?

We believe EVs will continue to rise on our roads as they become a key part to the electrification of our economy and a way for Aussie drivers to reduce the amount of annual income tax they pay.?