How is electricity budgeted or accounted for with an EV novated lease and can the cost of charging be salary packaged?
Electric Vehicle Novated Leases
Employees can salary package electricity costs within an EV novated lease. An employee must be able to demonstrate specifically how much energy – and the cost of the energy – is going towards charging the electric car. This can be either obtained through a separate smart meter installed in the home, or by purchasing a fast, in-home charger with the metering included within it.
Disclaimer: This general information doesn’t take your personal circumstances into account. Please consider whether this information is right for you before making a decision and seek professional independent tax or financial advice. Employers should independently consider whether a benefits program is appropriate for their organisation and seek advice where appropriate. Conditions and fees apply, along with credit assessment criteria for lease and loan products. The availability of benefits is subject to your organisation’s approval. Maxxia may receive commissions in connection with its services. Maxxia does not act as your agent or representative (or provide you with any advice or recommendations) in respect of the purchase of any vehicle.