Novated Car Lease & Electric Vehicle (EV) FBT Savings
Calculate salary sacrifice savings with a novated car lease, highlighting 100% Fringe Benefits Tax (FBT) exemption for eligible electric vehicles under the LCT threshold.
Calculate salary sacrifice savings with a novated car lease, highlighting 100% Fringe Benefits Tax (FBT) exemption for eligible electric vehicles under the LCT threshold.
Calculate salary sacrifice savings with a novated car lease, highlighting 100% Fringe Benefits Tax (FBT) exemption for eligible electric vehicles under the LCT threshold. Calculate exact, penny-accurate projections compliant with 2026 ATO • Reserve Bank of Australia (RBA) standards using Calconova's deterministic IEEE-754 (Decimal.js) calculation engine with instant breakdowns.
Total tax saved across your 3-year lease term: $28,474.00!
Tax Savings = (Annual Lease Payments + Running Costs) × (Marginal Tax Rate + 2% Medicare)Because FBT is 0% on eligible EVs under $91,387, 100% of vehicle expenses are paid from pre-tax income.
All calculations, amortizations, and scenario projections displayed on this page are strictly for informational and educational purposes. Nothing herein constitutes investment, financial, tax, or legal advice. Actual ATO tax rates, superannuation rules, RBA cash rates, and lender criteria may vary. Calconova explicitly disclaims all liability for any decisions taken based upon these calculations. Consult an ASIC-licensed financial advisor or CPA prior to executing financial commitments.
Under federal legislation enacted in late 2022, zero or low emission vehicles (battery electric vehicles) first held and used on or after 1 July 2022 with a retail value below the fuel-efficient Luxury Car Tax threshold ($91,387) are 100% exempt from Fringe Benefits Tax (FBT).
Yes! A novated lease allows you to bundle car repayments, electricity/charging, comprehensive insurance, registration, and replacement tires into one pre-tax payroll deduction.
While exempt from FBT, the reportable fringe benefits amount is still included when determining your HECS/HELP repayment income and Medicare Levy Surcharge thresholds.
Calculate net take-home pay across weekly, fortnightly, monthly and annual periods with updated Stage 3 tax cuts, Medicare Levy (2%), and 12% Superannuation.
Calculate compulsory HECS/HELP repayments based on your Repayment Income (1% to 10% tiers) and estimate annual inflation indexation impacts.
Estimate your 2% Medicare Levy, low-income threshold phase-in relief, and Medicare Levy Surcharge (MLS 1% to 1.5%) if you do not have private hospital cover.