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Novated Finance Lease Estimate

Lease Type
Vehicle Type
Vehicle Category
Engine Size
Fuel Type
State
Term
Annual Kilometres
Number of Tyres
Amount Financed
Residual Value (excluding GST)
 
Salary
ECM
Estimated FBT Value

Estimated Lease Costs Monthly Annual
Lease Rental
Fuel Budgeted
Comprehensive Insurance
     
Non-depreciation    
FBT
     
Total Pre-Tax
Total Post-Tax
     
Estimated Salary Comparison    
 
Unpackaged
Gross Salary
Annual Leasing Costs
New Gross Salary
PAYG Tax
After Tax Contribution
     
New Annual Net Salary
New Monthly Net Salary
     
Estimated Advantage per Annum
 

Disclaimer:

Changes were made in the 2011 Budget to replace progressive statutory rates with a single statutory rate of 20% by 2014, which applies regardless of kilometres travelled. This change will be phased in for new commitments. Transitional arrangements will apply with the change being phased in over the next four years.

For the purposes of this estimate, the calculation is based on statutory rates of 20% for 0-14,999 kms FBT year, 20% for 15,000-24,999 kms FBT year, 14% for 25,000-40,000 kms per FBT year and 10% for 40,001 kms or more per FBT year, which are the rates effective from 7.30pm on the 10th May 2011.

These rates were valid until 31st March 2012. Please contact Summit Fleet’s Novated team by email at novated@summitlease.com.au or by phone on 02 9638 7833 to obtain a complete quote which outlines the breakdown of the statutory rates over the next 4 years.

Summit Auto Lease Pty Ltd accepts no liability for the reliance on the results provided in this calculation.

The information in this estimate is designed as a guide only and should not be taken as Taxation Advice.

Summit Fleet recommends that you obtain independent advice from your accountant or financial advisor when making a decision on the impact of Summit Fleet’s Novated Lease on your total salary.