In Australia, electric vehicles are exempt from 47% fringe-benefits tax on novated leases.

In Australia, novated leases can reduce tax obligations by deducting vehicle payments from pre-tax pay. However, these leases are considered fringe benefits, charging a 47% fringe-benefits tax (FBT) on the car's cost with a taxable value of 20%. Notably, electric vehicles (EVs) avoid this FBT, making them an attractive option for those interested in novated leases.

May 20, 2024
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