The Power Of A Novated Lease – Only In Oz
Virtually everybody on the island of Australia has a motor vehicle registered in their name. Of all car, truck, van, motorcycle, and other automobile owners, the vast majority of Australians drive their motor vehicles on a daily basis.
They’re used to get to work, school, shop for groceries, transport children, and every other purpose one could imagine. As such, owning, leasing, or at least having reliable access to a solid motor vehicle is highly important for virtually all Australians.
Australians Are Molly-Whopped By Personal Debt
While Australia is a fabulous place to live – maybe outside of huntsman spiders – its residents are more affected by insurmountable loads of debt than anywhere else on the entirety of planet Earth.
As such, Australians often find it difficult to purchase high-quality, dependable motor vehicles.
How Else Can Australians Get Vehicles Outside Of Buying Them?
Steal them – duh! Just kidding.
Seeking out a novated lease is an effective, reliable, affordable means of securing a car, truck, van, or other type of automobile for personal use.
Unfortunately for most people, the basics of a novated lease aren’t outwardly clear to them. Australians, however, are one of the few people on planet Earth that are fortunate enough to be provided with the endless benefits that a novated lease can offer.
What Exactly Is A Novated Lease?
Employers have provided workers with benefits packages for decades, in hopes of competing with “better,” more sought-after employers. Simply paying them salaries and wages isn’t enough to secure the human resource market’s best human capital.
A novated lease is one of the many benefits employers offer to Australian workers. Employers often have millions, if not billions, of dollars to their corporate names. As such, they rarely get turned down by financiers when looking for automobiles to provide their employees with through a novated lease program.
When employers offer a Novated Lease Stratton at https://www.strattonfinance.com.au/novated-lease to employees, workers get such vehicles all to themselves, and don’t have to share them. Payments for such vehicles are automatically deducted from workers’ before-tax earnings.
Why Bother With A Novated Lease?
Most people like their novated lease agreements because they save people money on their tax returns. Because payments for them are subtracted from pre-tax earnings, beneficiaries of novated leases effectively don’t have to pay tax on amounts spent on their leases.
If those individuals were to secure leasing without novation, they’d have to pay taxes on monthly lease installments.