What 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