Electric Car Exemption​

*The Treasury Laws Amendment (Electric Car Discount) Act 2022 received Royal Assent on 12 December 2022. Under this enacted legislation certain zero or low emission cars held and used on or after 1 July 2022 will be exempt fringe benefits where provided by an employer to an employee where the first retail sale of the car is below the prevailing luxury car threshold for fuel efficient cars which is currently $89,332. Further limited guidance on the application of the above exemption can be found on the ATO website. A Customer considering entering into a novated lease for an electric car should seek their own independent tax, financial and legal advice regarding any proposed arrangement including the impact of such an arrangement from a salary sacrifice and reportable fringe benefits perspective. SG Fleet Group is not providing the Customer with legal, tax and financial advice regarding the purchase and financing of an electric car.

Novated lease comparison​

^Estimated income tax and GST savings over a 4-year novated lease term, compared to a non-packaged personal finance arrangement. Assumptions used to calculate potential savings available upon request.​

Comparison based on 2023-2024 income tax rates. The examples given within this material are provided for your information and to illustrate scenarios. The results should not be taken as a substitute for independent professional taxation and financial advice. For the purposes of this example, we have not taken into account the impact of salary sacrificing gross salary for fringe benefits on the calculation of your superannuation guarantee contributions. This calculation also does not take into account the impact of any tax offset to which you may be entitled. All reasonable care has been taken in preparing these materials; however, SG Fleet Group provides no warranties and makes no representation that the information provided is appropriate for your particular circumstances or indicates you should follow a particular course of action.