What is a Novated Lease?
18/07/2016 by Watson Erskine & CoWhat is a Novated Lease?
A novated lease is a type of motor vehicle lease that allows a business to lease a motor vehicle on behalf of an employee, with the responsibility for the lease lying with the employee and the lease payments being made from the employee's re-tax income.
It is a three-way agreement between the employer, employee and the finance company.
There are two main types of novation arrangement:
A full or split full novation
A partial novation
Follow the link below for more information and find out about:
Vehicles purchased under novated leases
Or please email us if you need any further information: mail@watsonerskine.com.au