Personal
Personal Overdrafts
Avail of the funds whenever needed for a smooth personal cash flow
Personal Overdrafts
Get a Smoother Cash Flow with a Personal Overdraft
Avoid the hassle of overdrawn fees or direct debits bouncing back with the help of a personal overdraft. Manage your cash flow no matter whether you are self-employed or a contractor.
- Smooth personal cash flow
- Avoid the hassle of an overdrawn account
- Funds are available when needed
- Access to the best offers
Completely Kept Novated Lease
A Completely Preserved Novated Lease is a setup where every one of the operating expenses of the motor vehicle is included as part of your salary package. Operating expenses that can be packaged include:
- Lease Rental
- Gas & Oil
- Maintenance & Maintenance
- Registration
- Tyrese
- Detailed insurance coverage
- Roadside Support
- Car Wash
Get a Smoother Cash Flow with a Personal Overdraft
Avoid the hassle of overdrawn fees or direct debits bouncing back with the help of a personal overdraft. Manage your cash flow no matter whether you are self-employed or a contractor.
- Smooth personal cash flow
- Avoid the hassle of an overdrawn account
- Funds are available when needed
- Access to the best offers
Completely Kept Novated Lease
A Completely Preserved Novated Lease is a setup where every one of the operating expenses of the motor vehicle is included as part of your salary package. Operating expenses that can be packaged include:
- Lease Rental
- Gas & Oil
- Maintenance & Maintenance
- Registration
- Tyrese
- Detailed insurance coverage
- Roadside Support
- Car Wash
Non-Maintained Novated Lease
Under a Non-Maintained Novated Lease, the lessee is responsible for all the car’s maintenance and other running expenses.
There are a variety of advantages connected with novated leases, including:
- Employers can rent the motor vehicle of their choice
- Automobiles can be leased where the private use of the automobile is 100%.
- When a worker ceases work, the duty for the lease changes back to the staff member.
- Motor vehicle does not appear on the employer’s Annual report.
Tax Benefits of a Novated Lease.
The concept of novated leasing is central to salary product packaging plans between a staff member and an employer. Under a salary packaging plan, an employee agrees to do away with a portion of their wages in return for benefits equal to that quantity.
For a novated lease, the lease and running prices of the car, as well as fringe benefits tax (if applicable), are subtracted from the employee’s pre-tax salary, and PAYG is calculated on the lowered salary or incomes.
The tax benefit of a novated lease emerges from the concessional fringe benefits tax obligation treatment on the car, with the lease and running prices being FBT exempt. Depending on the employee’s specific monetary scenarios, wage packaging a car under a novated lease can have the impact of increasing a worker’s net disposable income.
Other benefits of a Novated Lease
Settlements are fixed about the car loan
The regard to the novated lease varieties from 12 to 60 months.
As the investor is the automobile owner, they claim the GST on the acquisition rate, meaning that the staff member funds the GST-inclusive amount (i.e., the employee finances the GST-inclusive amount).
Under a wage packaging arrangement, the employer is qualified to assert an input tax obligation credit for the GST part of the lease repayments as well as various other running costs of the automobile.
If the employer passes the input tax credit scores to the employee, the worker is effectively paying the novated lease and running prices internet of GST.
We may be able to assist in detailed conditions by extending Private fleet advantages.
* Conditions Apply.
Things to assess:
- Financial Position
- Capacity to borrow funds
- Make and Model of car
- Resale value
- Value of Trade in car
- Balloon or residual amount
- Cash flow plan for tenure of loan