Novated leases only apply to motor vehicles. A novated lease arrangement is typically an agreement between three parties, a finance company (Lessor), an employer (Payee) and an employee (Lessee).
Features and benefits
- The product is applicable to salary packaged motor vehicles and provides for employees to obtain finance by way of a Finance Lease on such equipment
- employer accepts responsibility for payment of the lease rental under the finance lease whilst the lessee remains in the employ of the employer
- on completion of the novated lease period or on termination of the employee's employment, the responsibilities/liability under the finance lease revert to the employee
- motor vehicle fringe benefits tax issues may arise and should be discussed with your taxation adviser
Fees and charges
There are associated Government charges and costs, which vary from State to State, in addition to our fees and charges.
To apply for an equipment loan visit one of our convenient locations or call one of our friendly customer service consultants on 1300 55 72 72.