'Sheer driving pleasure' is the ethos of BMW. The German manufacturer offers a large suite of luxury vehicles including hatchbacks, sedans, sports cars and crossovers. BMW are also at the forefront of luxury electric car development with their growing range of EVs.
Thinking about a BMW electric vehicle? Your timing couldn’t be better. Thanks to the Federal Government EV Discount, the affordability of eligible electric and plug-in hybrid vehicles is improving for working Australians. Through novated leasing, you could be paying for a car using pre-tax dollars, potentially saving you thousands on tax over the lifetime cost of the car.
A novated lease is a three-way agreement between you, your employer, and a finance company that allows you to lease a car. Your employer deducts money from your before-tax and/or after-tax pay to cover vehicle payments and running costs, which could help to reduce your taxable income, and in turn, increase your disposable income.
Ordinarily, under a novated lease vehicle you are required to pay some Fringe Benefits Tax (FBT). However, with the Federal Government EV Discount, eligible electric and plug-in hybrid vehicles up to the Luxury Car Tax threshold of $91,387 are FBT-free! This means that 100% of payments made towards your lease and running costs using your pre-tax salary are FBT-free.
