calx.io/Novated Lease Calculator
See what salary packaging a car really saves: take-home pay with and without the lease, the tax saving, and the true net cost per fortnight.
Fuel or charging, insurance, registration, servicing and tyres, as quoted in your lease package.
Estimates only, not financial advice. Lease quotes bundle interest, fees and a residual (balloon) payment; compare the total cost of the lease against buying outright, not just the tax saving. Assumes a resident claiming the tax-free threshold with private hospital cover.
Frequently asked questions
How does a novated lease save tax?
Lease repayments and running costs come out of your salary before tax, so your taxable income drops. The calculator runs your pay through the ATO scales with and without the package and shows the exact difference, rather than a rough marginal rate estimate.
Why are electric vehicles treated differently?
Eligible EVs under the luxury car tax threshold are exempt from fringe benefits tax, so the entire package can be salary sacrificed pre-tax. That exemption is what makes EV novated leases unusually attractive, and it is the scenario this calculator models best.
What about petrol and diesel cars?
They attract FBT, and most providers offset it by having you pay part of the running costs from post-tax salary (the employee contribution method). That reduces the saving, so treat the calculator figure as a best case for non-EVs and get a full quote.
Is a novated lease always worth it?
No. The tax saving is real but lease quotes bundle interest, fees and a residual payment at the end, which can outweigh it, especially on used or cheap cars. Compare the total lease cost against buying the same car outright before deciding.
Does a novated lease affect HECS and government benefits?
It can. Packaging lowers taxable income, but reportable fringe benefits are added back for HECS repayment income and many benefit tests. For FBT-exempt EVs the benefit is still reportable. The calculator includes the HECS effect via its toggle; check benefit impacts with the provider.