Novated lease calculator

The result you get from our novated lease calculator will estimate various costs and savings:

• The regular cost of the lease (that's the reduction to your take-home pay). You can choose to see a weekly, fortnightly or monthly estimate to match your pay cycle.
• What running costs are included in the estimate.
• The potential GST saving on the car (based on the vehicle purchase price and packaged running costs).
• An estimate of the total income tax savings available.
• Total estimated tax saving (GST plus income tax).

Our novated lease calculator estimates your costs and savings based on different factors about you, the car you want to salary sacrifice and how you will drive it. The lease term (duration) will also impact the calculation. Here's an overview of the main variables and how they can impact the calculation.

The purchase price of your car will have a significant bearing on the calculation and the cost of your lease. A more expensive car within the same category will mean a higher regular lease payment. The major exception is a novated lease on an electric vehicle, which is typically significantly cheaper than a lease for a similarly-priced non-EV. This is due to the fringe benefits tax exemption on eligible EVs.

The calculation will estimate your car running costs too. These are estimated based on how many KMs you'll drive per year. Car running costs you can salary sacrifice include fuel/charging, insurance, registration/CTP, tyres and servicing.

A novated lease calculator will take account of your pre-tax salary to estimate your potential tax savings. Generally speaking the higher your marginal rate of tax, the more you save. But anyone who pays income tax can reduce their tax bill through a novated lease.

Your choice of term (between 1-5 years) has a major impact on the novated lease calculation. A longer lease term generally means lower regular payments as the cost is spread over a longer period.

This impacts the likes of vehicle delivery costs, stamp duty on the vehicle and the cost of registration, all of which will need to be factored into the novated lease calculation. Where you live may also separately impact what EV incentives and rebates you may be eligible for if you choose to drive an EV.