Novated Leasing - Electric Vehicles (EV)

novated lease electric car on road

Novated Leasing - Electric Cars

Lease an eligible electric vehicle with 100% before-tax dollars via novated leasing.

The Electric Car Discount could help you save on tax through a novated lease.

Electric Vehicles:
EV Offers
Gov't EV Discount
Common Myths
Education Hub

Goodbye FBT, hello before-tax payments and potentially lower running costs.

If you’re looking to join the thousands of Australians who have switched from petrol to electric, your timing couldn’t be better. That’s because the Australian Government’s Electric Car Discount includes FBT exemptions on eligible battery electric or plug-in hybrid electric vehicles through novated leasing – potentially saving you thousands.

As one of Australia’s largest novated lease providers, we’re ready to help get you into an EV of your choice. We are working closely with key suppliers to help you make a confident choice – for yourself and the environment. Check out our current car deals below.

Electric Car Deals

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Electric Car (EV) Charging Station

Get Behind the Wheel of an FBT-Exempt Electric Vehicle

Because of the FBT exemptions tied up with the Electric Car (EV) Discount, you could enjoy 100% pre-tax payments on eligible EVs retailing up to the Luxury Car Tax threshold of $91,387*.

This could mean making similar payments on an EV that you would on an equivalent petrol car – despite the EV potentially retailing for considerably more!

Read more about the FBT exemption

How does the EV discount work? Novated lease petrol vs electric comparison

How Much Could You Save on an EV Novated Lease?

Electric Vehicles are currently more expensive than their petrol counterparts. However, with the Federal Government Electric Car (EV) Discount and novated leasing, you could pay around the same amount for a new electric car as an equivalent petrol car – potentially saving you thousands of dollars.

In this example, the Tesla 3’s driveaway price is over $20,000 more than the Mazda CX-5, yet the cost per week is comparable.

Use our EV calculator

What about plug-in hybrids?

Good news! You can access the EV Discount for a new PHEV through a novated lease. The same eligibility conditions as EVs apply.

However, the EV Discount will only be available for plug-in hybrids until March 31, 2025, so don’t miss out on it!

Read more about PHEVs

Novated Leasing Hybrid or Electric Vehicle Charging Station

 

 

Electric Vehicle Calculator

Ready to crunch the numbers? Try our EV novated lease calculator.

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Find Your Car

A tax-effective way to salary package the car you need.

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Electric Vehicle News & Reviews

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EV Education Hub

FBT Exemption on Novated Leases a Win for Electric Vehicle Drivers
FBT Exemption on Novated Leases a Win for Electric Vehicle Drivers

There’s an EV revolution going on in Australia, with the Federal Government’s Electric Car (EV) Discount helping to drive significant uptake of zero and low-emission vehicles.

Read more >
PHEV charging outdoors
Top 5 Plug-In Hybrids to Consider Before the EV Discount Ends

PHEVs can only access the Federal Government EV Discount up until 31 March 2025. The discount allows you to lease an eligible PHEV before this date and make all lease payments from your salary before tax is taken out.

Read more >
An electric car charging on the street
Why EVs May Be Cheaper to Run and Maintain than Petrol Vehicles

Although electric vehicles generally have a higher purchase price, there could be cost savings associated with the lifetime of the car, including paying less in fuel and maintenance.

Read more >
An electric car charging outside
What Makes Electric Vehicles More Environmentally Friendly?

When it comes to cars, battery electric vehicles are hailed as the ‘cleaner’ or ‘greener’ choice when compared to petrol. But what exactly makes them a cleaner choice?

Read more >
More EVs Eligible for Novated Lease and EV Discount Thanks to Tax Changes
More EVs Eligible for Novated Lease and EV Discount Thanks to Tax Changes

The threshold has now been raised for the 2024/25 financial year from $89,332 to $91,387 for fuel-efficient vehicles, including EVs and plug-in hybrids.

Read more >
Two people enjoying their electric vehicle
Electric Vehicles: They’re Just Fun to Drive!

EVs ordinarily have a lower centre of gravity compared to petrol cars – which could offer better handling, comfort and responsiveness. But it’s the zippy, instant torque that really amps up the fun.

Read more >
Electric car charging
How To Plan a Road Trip with an Electric Vehicle

A key objective of the Australian Government’s plan is to make it easy to charge EVs across Australia and improve public charging infrastructure.

Read more >
Which Cars are Eligible for the Australian Government’s Electric Vehicle Discount?
Which Cars are Eligible for the Australian Government’s Electric Vehicle Discount?

You may have heard of the Australian Government’s Electric Vehicle Discount, but what are some of the cars that qualify?

Read more >
Beat Rising Electricity Costs by Solar Charging Your EV
Beat Rising Electricity Costs by Solar Charging Your EV

Everyone is looking for ways to reduce the current cost-of-living burdens. That's why we wanted to share with you the potential cost savings (and convenience) of using solar to charge an electric vehicle.

Read more >

 

Common Myths: Eco-Friendly Vehicles

We respond to five of the most common misconceptions about Electric Vehicles.

"They’re expensive"

While the upfront costs of EVs are currently more expensive than conventional petrol vehicles, powering an EV costs an estimated 70 per cent less per kilometre, according to the Electric Vehicle Council.

EVs have lower running costs than regular petrol-powered cars, given they have no engine, transmission, head gasket or spark plugs. Consequently, you likely won’t have to service an EV as regularly.

Battery EVs don’t require petrol or diesel. For context, the average Australian drives 15,000 kilometres a year, spending more than $2,000 on fuel. It’s estimated an EV also travelling 15,000 kilometres costs around $600 per year – that’s a $1,400 annual saving.

"You don’t get far on one charge"

According to the Electric Vehicle Council, current EVs have an average battery range of nearly 480km but with ongoing technology advancements some new models can get to 550km on a single charge.

With the average Australian driving 38 kilometres a day, an EV owner who carries out short trips can go for 10 or more days without needing to recharge.

"There’s nowhere to charge them"

Most new EV sales include an entry-level charger which simply connects to a normal electricity power outlet that you would have at home. These basic chargers are adequate for maintaining a full charge for many people doing a daily work commute or trip to the shops.

Public charging solutions are available across Australia. The Electric Vehicle Council’s website lists all available charging stations around the country, including the type of chargers.

"Charging takes too long"

Charging times are decreasing as technology changes and more EVs hit the market. Entry-level chargers supplied with EVs can take up to 30 hours to fully charge a vehicle; this timeframe reduces to overnight with higher capacity chargers available at an optional cost.

Public chargers can be much faster – with super-charge stations adding up to 300 kilometres of range in 10 to 15 minutes, and regular stations often doing the job in less than five hours.

With the convenience of home-charging – either overnight or during periods of the day that you don’t need to drive – the need for faster chargers may not be a pressing requirement for some people.

"They’re not as responsive"

EVs can deliver full torque instantly, allowing them to accelerate faster than equivalent combustion engine vehicles.

The potential benefits of electric cars and EV novated leasing with Maxxia.

Pay with pre-tax dollars
Pay with before-tax dollars

Payments on eligible EVs up to a cap of $91,387 are paid from your pre-tax salary when you enter into a novated lease. You could also save GST on some of the car’s running costs, where your employer opts to pass on input tax credits to you.

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Convenience
Convenience

We can tap into our nationwide dealer network to source and potentially negotiate a great price on an EV, arrange all the paperwork and insurances, and draw up a manageable regular-repayment budget for covering your finance and running costs.

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Maxxia Marketplace
Maxxia Marketplace

An EV novated lease with Maxxia means access to great car brands and deals across the country.

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Environmentally friendly
Environmentally friendly

By burning less fuel, electric cars emit fewer emissions. Newer models could also put electricity back into the grid, which could help you save on your energy bills.

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Cheaper to run and maintain icon
Cheaper to run & maintain

According to the Electric Vehicle Council, an EV driver clocking up 12,000 kilometres each year would spend around $500 in recharging, compared to approximately $2,500 for a petrol car, as well as have less servicing costs due to fewer moving parts.

Read more

Fun to drive
Fun to drive

With noiseless electric motors and the ability to deliver instant full torque, EVs can make for a quieter, zippier and more comfortable drive.

Read more

FAQs

Got more questions about salary packaging an eco-friendly car? We’ve got you covered.

EVs General EVs Novated Leasing

*For the 2024/25 financial year.

^Savings shown are indicative and reflect estimated tax savings over the full-term of the lease. The total amount saved is a comparison between a novated lease based on the assumption outlined above and the purchase of a vehicle and payment of running and maintenance costs using post-tax earnings. Actual savings will depend on your personal circumstances. 

^Novated Lease example: The estimated potential tax benefit is over the full-term of the lease, is exclusive of GST and is based on the assumption that you would salary package using Employee Contribution Method (ECM) or Fringe Benefits Tax Exempt Method. The Fringe Benefits Tax Exempt Method is only used for eligible electric vehicles under the luxury car tax threshold of $91,387. Payment includes: Your car payments, fuel or charging, registration, tyres, insurance, scheduled servicing, fleet management fee and are exclusive of GST. The estimated annual benefit will vary depending upon salary, employment circumstances, selected benefits and applicable tax treatment. The example assumes you earn $90,000 a year, a 5-year lease term, an annual distance travelled of 15,000kmsand a 28.13% residual value. GST of 1/11th is payable on your ECM contributions. State Stamp Duty rates apply. PAYG tax rates effective 1 July 2024 have been used. 

Things you need to know: 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. Conditions and fees apply, along with credit assessment criteria for lease and loan products. The availability of benefits is subject to your employer’s approval. Maxxia may receive commissions in connection with its services.  From 1 April 2025, a plug-in hybrid electric vehicle will not be considered a zero or low emissions vehicle under FBT law. However, you can continue to apply the exemption if both the following requirements are met: 1) Use of the plug-in hybrid electric vehicle was exempt before 1 April 2025. 2) You have a financially binding commitment to continue providing private use of the vehicle on and after 1 April 2025. For this purpose, any optional extension of the agreement is not considered binding. 

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