Why wouldn't you?
If you could join over 26,000 Queensland Government employees enjoying the benefits of novated leasing with RemServ,
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Let a novated lease drive your electric vehicle 'motorvation"
We're RemServ
RemServ is a leading provider of workplace benefits in Queensland and forms part of one of Australia's largest workplace benefits providers, McMillan Shakespeare. In 1988 McMillan Shakespeare helped establish the workplace benefits industry in Australia. Born out of an accounting firm in 2000, RemServ is proud to service a range of Queensland Government clients.
Novated Lease Explained
What is a novated lease?
Novated leasing is a three-way agreement between you, your employer and a financier. A new, used, or existing car is leased in your name and during the lease, your employer takes responsibility for all the lease payments and running costs – such as fuel, registration, charging (if yours is an electric vehicle), insurance (optional) and maintenance (optional). These are bundled into one regular payment, using a combination of your pre and post-tax salary. This means you could reduce your taxable income and potentially pay less income tax.
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Novated Lease Calculator
Calculate your potential savings
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^Vehicle price displayed is based on the current recommended retail price (as obtained monthly from market experts) plus an additional 4.5% to allow for government charges (including stamp duty). This price and the charges may vary depending on your state/territory and when the car is ordered.
*Repayments per fortnight has been calculated as the total estimated budgeted ‘Operating Costs’¹ reduced by the estimated ‘Net Benefit’² of salary packaging the category of vehicle chosen. Please refer to the Comparison Table for further information on the possible net benefit of packaging the category of vehicle chosen.
¹Operating Costs is defined as the total cost of lease payments & running costs that will be incurred by you if you enter into a novated lease arrangement. Please note that the amount of Operating Costs in this case is an estimate only based on the information provided by you.
²Net Benefit is defined to be the difference between the take home salary if you do not enter into a novated lease arrangement compared to if you do. Please note that this amount is an estimate only based on the information provided by you.
Finance lowdown
How much tax could I save with a novated lease?+
Weekly cost
Fortnightly cost
Monthly cost
+ Estimated tax savings is the amount you could save if you salary package the car and pay for the lease payments and operating costs with pre-tax salary or a combination of pre-tax and post-tax salary, as compared to if you do not salary package and pay with post-tax salary. Please see ‘Important information about calculations’ below for further information.
Features & inclusions
Car payments
Fuel or charging
Rego
Insurance
Tyres
Servicing
Comparison
Salary
Motor Vehicle Under a Novated Lease
Administration fee
Net salary
Tax and Medicare
Net cash salary
ECM
Car payment without lease
Net Benefit
Motor Vehicle
FBT
Input Tax Credits
Net Salary After Input Tax Credits
Cash Salary
Important information about calculator
Disclaimer: This calculator is an educational tool only and should not be relied on for the purpose of making a decision about a financial product. Calculations produced are estimates only that do not take your personal circumstances into account and should not be relied on as an accurate quote or offer of finance. The figures generated by this calculator are based on several factors and assumptions. To view a full list of the terms & conditions, and the applicable assumptions (in addition to those already set out in the table), click below. Maxxia recommends you seek professional financial and taxation advice before making any financial decisions regarding a novated lease.
Important information about calculations
Calculator assumptions
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This calculator is provided for illustrative purposes only.
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It does not take into account your personal objectives, financial situation or needs.
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Additional fees and charges may apply, along with credit assessment criteria for certain products.
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The availability of benefits is subject to your employer's approval.
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PAYG tax rates effective 1 July 2024 have been used.
Important information about calculations
All calculations on this website are for illustrative purposes only and use PAYG tax rates effective 1 July 2024.
Novated leasing calculations assume the employee contribution method has been used (pre and post-tax funds). The estimated annual operating costs includes estimates of fuel, maintenance, tyres, registration, comprehensive insurance.
If you are an employee of a public health, charity or not-for-profit organisation, the calculator results assume you are salary packaging a novated lease above your FBT exemption cap limit.
An indicative annual vehicle management service fee of $275.00 (incl. GST) has been included in your operating expenses. This fee may vary depending on your employer.
The amount financed includes a finance establishment fee of $475.00 (incl. GST) which is charged by the financier.
An indicative average administration fee of $96 has also been included. This fee may vary depending on your employer. Please refer to your employer's salary packaging policy for more information. A copy of the policy may be obtained from your employer or by contacting RemServ on 1300 73 66 62.
GST of 1/11th is payable on your ECM contributions. Input Tax Credits (i.e. a refund of GST) may be paid to you as salary by your employer. State Stamp Duty rates apply.
Tax, benefit & Medicare levy calculations are approximate, and assumes no other taxable income is received. HECS/HELP repayments and taxation surcharges are excluded.
Please contact us for an accurate estimate of your annual net benefit, leasing costs and the fees that may be applicable to you, or refer to your employer's salary packaging policy or employee guide.
For electric vehicles, plug-in-hybrid vehicles and plug-in hydrogen fuel cell vehicles, please consider the following:
- The Electric Car (EV) Discount Bill 2022 is subject to Royal Assent.
- The estimated potential tax benefit is exclusive of GST and is based on the assumption that you would have paid for your lease repayments and operating costs from your post-tax salary (as opposed to salary packaging those payments from your pre-tax salary or a combination of your pre- and post-tax salary).
- This calculator assumes that:
a) the car selected is an eligible zero or low- emissions vehicle;
b) the value of the car at the first retail sale was below the luxury car tax threshold of $89,332 for fuel efficient vehicles and;
c) the car is first held and used on or after 1 July 2022. - Estimated running costs may include those detailed above as well as electricity.
- This calculator does not use or consider any individual’s own financial circumstances at all.
Having a car does not need to be expensive
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