Salary packaging a car through a novated lease is one of the simplest and most cost-effective ways to buy and run the car you want. It helps reduce your taxable income and the tax you pay, and you can also save in other ways.
With a novated lease your car finance and all usual running costs come out of your salary in regular, easy payments. With an eligible electric vehicle (EV)^ or plug-in hybrid (PHEV)^, it all comes from your income before tax, and for other cars it’s a combination of before and after-tax income.
^Fringe Benefits Tax (FBT) exemption available for eligible electric, plug in hybrid or hydrogen cell vehicles purchased through a novated lease up to the Luxury Car Tax limit ($91,387 in FY 2024-25). Plug-in Hybrid Electric Vehicles will only be eligible for the exemption if the vehicle is delivered, and the vehicle lease commences, before 1 April 2025. Vehicle delivery times are not guaranteed and subject to factors outside of Smart's control. Smart will not be held responsible where vehicles are delivered after 31 March 2025 due to such factors.
Thanks to federal government incentives, if you lease an eligible electric vehicle (EV) or plug-in hybrid (PHEV), 100% of the lease and car costs come from your income before tax.
So not only could you get the carbon efficiencies and amazing technology of an EV low-emissions vehicle, you could save thousands of dollars. Whether you’re driven by concern for the environment, tax-effectiveness, or both, let us help you get into the EV or PHEV that’s right for you.
We can help get you the best possible price on your chosen car, through our 80-strong network of SA dealers.
And unlike with a bank loan or dealer, GST isn’t payable on the purchase price of a vehicle financed through a novated lease. (GST savings are calculated on the FBT base value of the vehicle, up to the claimable limit [$6,334 in FY 2024-25] unless exempt, which is the case for many utility vehicles, people movers and vans.)
There’s no GST payable on insurance, registration, fuel and/or charging expenses, maintenance and even car wash expenses. On top of this, if you join our Vehicle Maintenance Program you could save on your car’s servicing.
Then when it’s time to sell, we can help get you a good price and save you time, through our Vehicle Disposal Program.
*Discount figures provided are indicative only and based on quotes obtained by Smart from its dealership network in SA in February 2025. Actual discounts may vary depending on factors such as dealer selection, date of purchase and state in which vehicle is purchased. Discounts on RRP are not guaranteed. Discount applies only to the specific car (including make, model and variant) as listed without the inclusion of any optional extras.