1300 Car Lease

The ATO explaination

A novated lease refers to an arrangement whereby all or part of the lessee's rights or obligations under the vehicle lease are taken over by an employer. The lessee is usually the employee. However, the lessee may be an associate of the employee. In this case, the associate's rights or obligations under the lease are taken over by the employer.

On payment of the last lease payment, or on termination of employment, a further novation may occur. The deed of novation usually contains a clause stating that on the earlier of, say termination of the lease or cessation of employment of the employee, the employer's obligations under the deed of novation are novated to the employee who again becomes the lessee. In the case of cessation of employment this enables the employee to enter into a new novated lease arrangement with another employer.

Get a 1300 Car Lease novate lease package

We can give you access to the best novated lease products in Australia. Our experienced car leasing consultants can tailor a package for your individual situation. Our products include;

• No payout penalties
• No establishment fees
• Flexible structures

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