Run Your Own Novated Leasing Program

All state and federal government departments (including the ATO) and all top 200 ASX organizations offer novated leasing to their employees.

A novated lease is an ATO approved method involving a three-way agreement between the employee, employer and novated lease provider. Novated leasing allows an employee to pay for their car and its running costs with pre-tax income.

It is estimated that more than 20% of all new car purchases in Australia are through a novated lease. This is expected to increase with the introduction of the Electric Car Discount policy offering an FBT exemption on electric cars!

Novated leasing savings come from three areas:

1. You receive a credit for the GST on the purchase price (as the employer is deemed to have purchased the car), therefore you automatically save 10% off the vehicle purchase price;
2. The employee will also save by receiving a credit for the GST on the running costs of their new car. Running costs include fuel, servicing and maintenance, insurance, registration and tyres; and
3. Novated lease repayments are paid for using an employees pre-tax salary. Therefore, there is a saving on income tax paid by the employee.

All you need to do is deduct from the employees fortnightly/monthly salary as advised by Remunerator. In addition, you will also need to claim back the GST Remunerator reports.

The novated lease is in the employee's name, therefore there is no risk to the employer by offering novated leasing. If an employee leaves your employment, the car goes with the employee and the remaining lease repayments are the employee's responsibility. As the vehicle is owned by the employee, it isn't classified as an asset or liability on your balance sheet.

It will be mandatory that the car has comprehensive car insurance. The employee is responsible for any excess payment, which can also be incorporated into their salary package. As the employer, you will not be left to foot the bill.

All management of the novated lease is powered by Remunerator.

No, there is no minimum number of employees required. All organizations regardless of their size can benefit from Remunerator Novated Leasing!

Yes, you are welcome to use your financier of choice. Alternatively, Remunerator is able to organize finance should you require it.

The main benefit of Remunerator Novated Leasing is the significantly reduced waiting times due to there being no pre-approval process or requirement of a client contract.

The lease is operational as soon as the customer can:

• Have their employer agree
• Sign the Deed of Novation
• Provide bank details

This means it can be while the customer is in the showroom!

Remunerator will provide comprehensive training and support to your dealership, enabling them to easily understand and promote novated leasing.

Your dealership will be given access to an online portal that enables you to manage the flow of documents and salary package application.

Remunerator will provide all marketing and communication support to you, allowing you to easily sell Remunerator Novated Leasing.

You will also have a dedicated Remunerator contact to assist you with any further inquiries that arise.

Remunerator Novated Leasing charges a one-off fee per car payable by the dealership. This fee is charged to the dealership based on two options:

1. Should the dealership source their own novated lease finance, Remunerator will charge a one-off fee to the dealership.
2. Should Remunerator source the novated lease finance, Remunerator will share the commission earned on the finance evenly with your dealership.

In addition to this one-off fee, there will be a monthly management fee payable by the customer which will be incorporated into their salary package.

Remunerator Novated Leasing does not affect your commissions with your existing financiers. That is, when you source the finance for the novated lease, your earn should be as per the existing arrangements with your financiers.

No, when you source the finance for the novated lease, the dealerships volume bonus earn should be as per your existing arrangement with your financiers.