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Electric Vehicles Special Offers Calculator FAQs

ELECTRIC VEHICLES

Now is the time

Thanks to the government’s all new Electric Car Discount Bill it has never been a better time to novated lease an eco-friendly electric vehicle.

Electric Vehicles:
Govt EV Discount Special Offers FAQs Enquire now

Thinking about a new vehicle?

Right now, is a great time to start thinking about taking advantage of significant savings across the electric and plug in hybrid vehicle range.

If you’re considering your next new car, then our experienced consultants will be happy to assist. If the time isn’t right for you yet then this page will help you gather more information on Novated leasing ‘the electric way’

What is an electric vehicle?

Electric vehicles (EV) are vehicles that operate either entirely or partially on electricity.

Different types of electric vehicles include:

Battery Electric Vehicles (BEVs)

Battery Electric Vehicles such as Tesla’s run solely on an electric motor powered by a battery that is recharged using an EV charging outlet. These are typically installed at either home or work and are increasingly being introduced in car parks and service stations throughout Australia as EV’s gain in popularity

Plug-in Hybrid Electric Vehicles (PHEVs)

Plug-in hybrid electric vehicles (PHEVs) combine an electric motor and a petrol engine, allowing for the flexibility to switch between the two power sources as needed. Like BEVs, PHEVs require external charging to power their electric motor and recharge their battery.

Save even more on EV and PHEVs under a novated lease thanks to the Government EV Discount

Take advantage of the Government EV Discount and enjoy greater savings on Electric Vehicles (EV) and Plug in Hybrid Electric Vehicles (PHEVs) through a novated lease. As of December 2022, these vehicles are fully exempt from FBT and can be paid for with pre-tax salary. To qualify, the vehicle must have been bought on or after July 1st, 2022 and its purchase price must not exceed the Luxury Car Tax threshold of $91,387 for FY 2024-25.

Benefits of novated leasing an electric vehicle with LeasePLUS

Tax Savings

Enjoy tax savings with no GST on the vehicle purchase and running costs during your lease, along with FBT exemption on EVs and PHEVs under the Electric Car Discount Bill.

Fleet discounts

Take advantage of our nationwide dealer network and buying power and enjoy fleet discounts on your vehicle's purchase price, servicing, and maintenance costs.

Reduced running costs

By switching to an EV, say goodbye to petrol expenses and save over $500 per month in additional costs.

Help the environment

By choosing an EV, help contribute to a cleaner, renewable energy future by eliminating exhaust emissions and reducing your environmental footprint.

Easy budgeting

All your vehicle costs are covered by one easy payment straight from your pay.

Easy tracking

Stay up to date with your lease and submit claims easily through the LeasePLUS app on your smart device.

Electric vehicle special offers

Thinking about taking advantage of the Government EV Discount? It’s time to talk to LeasePLUS.

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FAQs

We respond to some common questions about Electric Vehicles (EVs).

An EV 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 like tyre wear and tear, brake fluid changes, suspension and general safety checks.

When it comes time to service your vehicle, rest assured the experienced LeasePLUS team will ensure that the work and associated costs are fair and reasonable.

It is not possible to package the electricity used to charge an EV at home. However, the usage cost of public charging stations can be packaged.

Currently the Fringe Benefits Tax (FBT) legislation doesn't allow you to package the cost of an EV charger in a novated lease.

Yes, you can. While some public chargers are available for free (such as those in shopping centres), there are chargers that require payment. When using these chargers please keep the receipts and submit them to LeasePLUS for reimbursement. The budget for charging expenses is approximately $50 per month. For Plug-In Hybrid Electric Vehicles (PHEVs), fuel expenses are also eligible for reimbursement.

There are several factors to consider when estimating EV running costs. One of the most important is the average driving range you require for your vehicle. Most EV models offer higher range capacity battery packs as an option, which can increase the distance the vehicle can travel on a single charge. However, it is important to note that charging times may increase as a result.

If you need to charge your device quickly, you may also want to consider investing in a fast charger, which can significantly reduce charging times. While the cost of these units, including installation fees, can be as much as $3,000, the benefit of a quicker charging time may outweigh the cost.

Government EV Discount

No. Only fully electric Battery Electric Vehicles (BEVs) and Plug-In Hybrids (PHEVs) are eligible for the FBT exemption. Hybrid Electric Vehicles (HEVs) that charge their battery through energy regeneration are not eligible.

No. To qualify for the FBT exemption, the EV must be priced under the luxury car tax threshold of $91,387 (plus legislated on-road costs).

The FBT exemption for PHEVs is set to run for a minimum of three years, from 1 July 2022 to 30 June 2025. At the end of this period, the exemption will be reviewed. It is important to note that any novated lease entered into prior to the expiration of the exemption will still be eligible for the benefit until the lease has concluded .

Yes. The government will apply the legislation retrospectively to eligible EVs registered after 1 July 2022.

The vehicle must have been registered before 1 July 2022 and not have been subject to the luxury car tax at the initial point of sale.