You can pay for an EV on novated lease via two methods: the Employee Contribution Method (ECM) or FBT-Exempt Method.

The discount applies to eligible EVs that fall below the luxury car tax threshold of $91,387 for low-emission vehicles held and used on or after 1 July 2022. Cars first held or used prior to 1 July 2022 do not qualify.

In addition to the changes we have mentioned, there are no further immediate changes at this stage, however we’re waiting on announcements regarding claimable home charging. Areas such as the luxury car tax threshold and the import tariff remain subject to change, just like any tax laws.

While we’re unable to give financial advice, we can confirm that while electric vehicles on novated lease are FBT-exempt up to the Luxury Car Tax threshold of $91,387, they are required to be reported on employee payment summaries.

We’re always updating information on our dedicated Electric Vehicle page, especially as the Federal Government rolls out its National EV Strategy. There’s also Maxxia Marketplace – our one-stop shop for all things automotive!

An electric car requires servicing at the same intervals as any car. While an EV has less moving parts than a regular petrol vehicle, many of the servicing elements remain the same – such as tyre wear and tear, brake fluid changes, suspension and general safety checks.

Yes, you can salary package electricity costs within your EV lease. You must be able to demonstrate specifically how much energy – and the cost of the energy – is going towards charging your EV.

A standard charging cord is allowable if it is included in the electric vehicle’s purchase price or added as an accessory at the time of purchase and forms part of the finance arrangement under a novated lease. Only like-for-like replacements or repairs of the standard charging cord are allowed thereafter.”

Some public chargers are free for use; these are generally located at shopping centres. Others will charge you for electricity provided via a credit card. Keep the receipts from these stations to claim through your MyCar Account.

Yes, there are a few. Firstly, you need to consider the average range you want to drive in your vehicle. Many EVs have options to pay for higher range capacity battery packs, meaning the vehicle can drive further. This, however, means charging can take longer. A vehicle’s range depends on the type of driving conditions, and whether you continuously use the heater or air conditioner.