Novated Lease Calculator
We’re all about helping our customers make confident choices when it comes to novated leasing – and that’s why we’ve created a handy calculator, so you can quickly calculate the difference a novated lease will make to your pay, including an estimation of potential tax savings.
Before you crunch the numbers in the table below, we suggest you have handy your salary information, a rough idea on the car you want – budget and size – and how many kilometres you normally travel each year.
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Novated lease calculator Australia
Crunch the numbers
Year
Choose make
Choose model
Choose variant
How much do you drive each year?
Lease length
Finance lowdown
How much tax could I save with a novated lease?+
Weekly cost
Fortnightly cost
Monthly cost
+ Estimated tax savings is the amount you could save if you salary package the car and pay for the lease payments and operating costs with pre-tax salary or a combination of pre-tax and post-tax salary, as compared to if you do not salary package and pay with post-tax salary. Please see ‘Important information about calculations’ below for further information.
Features & inclusions
Car payments
Fuel or charging
Rego
Insurance
Tyres
Servicing
Comparison
Salary
Motor Vehicle Under a Novated Lease
Administration fee
Net salary
Tax and Medicare
Net cash salary
ECM
Car payment without lease
Net Benefit
Motor Vehicle
FBT
Input Tax Credits
Net Salary After Input Tax Credits
Cash Salary
Important information about calculator
*Disclaimer about estimated lease payment calculations
*'Estimated Lease Payment' has been calculated as the total estimated budgeted 'Operating Costs'1 reduced by the estimated 'Net Benefit'2 of salary packaging the category of vehicle chosen. Please refer to the Comparison Table for further information on the possible net benefit of packaging the category of vehicle chosen.
1Operating Costs is defined as the total cost of lease payments & running costs that will be incurred by you if you enter into a novated lease arrangement. Please note that the amount of Operating Costs in this case is an estimate only based on the information provided by you.
2Net Benefit is defined to be the difference between the take home salary if you do not enter into a novated lease arrangement compared to if you do Essentially it is the amount you potentially save on pre-tax deductions. Please note that the amount of Net Benefits calculated in this calculator is an estimate only based on the information provided by you.
Important information about Calculator (Assumptions & Disclaimers)
All calculations on this website are for illustrative purposes only and use PAYG tax rates effective 1 July 2024.
Novated leasing calculations assume the employee contribution method has been used (pre and post-tax funds). The estimated annual operating costs includes estimates of fuel, maintenance, tyres, registration, comprehensive insurance.
If you are an employee of a public health, charity or not-for-profit organisation, the calculator results assume you are salary packaging a novated lease above your FBT exemption cap limit.
An indicative annual vehicle management service fee of $275.00 (incl. GST) has been included in your operating expenses. This fee may vary depending on your employer. Maxxia strongly recommends that you consult a professional and provide no warranties as to the accuracy of the estimated results produced by the calculator.
A finance establishment fee of $475.00 (incl. GST) will be charged by the financier.
An indicative average administration fee of $325.00 has also been included. This fee may vary depending on your employer. Please refer to your employer's salary packaging policy for more information. A copy of the policy may be obtained from your employer or by contacting Maxxia on 1300 123 123.
GST of 1/11th is payable on your ECM contributions. Input Tax Credits (i.e. a refund of GST) may be paid to you as salary by your employer. State Stamp Duty rates apply.
Tax benefit & Medicare levy calculations are approximate, and assumes no other taxable income is received. HECS/HELP repayments and taxation surcharges are excluded.
- This calculator provides general information only by using some generic taxation scenarios and some publicly available general material published on the ATO's website. It does not offer a complete overview of applicable taxation methods;
- This calculator does not use or consider any individual’s own financial circumstances at all;
- Users must not rely on or consider any results generated by the calculator as personal taxation advice;
- Maxxia is not licensed to provide taxation advice to anyone;
- The car images shown are for illustration purposes only and may not be the exact representation of the car on offer.
Please contact us for an accurate estimate of your annual net benefit, leasing costs and the fees that may be applicable to you, or refer to your employer's salary packaging policy or employee guide.
For electric vehicles, plug-in-hybrid vehicles and plug-in hydrogen fuel cell vehicles, please consider the following:
The Electric Car (EV) Discount Bill 2022 is subject to Royal Assent.
The estimated potential tax benefit is exclusive of GST and is based on the assumption that you would have paid for your lease repayments and operating costs from your post-tax salary (as opposed to salary packaging those payments from your pre-tax salary or a combination of your pre- and post-tax salary).
This calculator assumes that:
a) the car selected is an eligible zero or low- emissions vehicle;
b) the value of the car at the first retail sale was below the luxury car tax threshold of $91,387 for fuel efficient vehicles and;
c) the car is first held and used on or after 1 July 2022.
Estimated running costs may include those detailed above as well as electricity.
This calculator does not use or consider any individual’s own financial circumstances at all.
Contact Maxxia
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Keen to talk now? Give Maxxia a call on 1300 123 123.
Maxxia is available:
9am-5pm AEST Monday - Friday
Excluding public holidays
* Questions marked with an asterisk need to be answered before you can submit the form.
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Disclaimer: An example of novated leasing for Electric vs .Petrol car
Disclaimer for Electric vs. Petrol car comparison
Displayed price is only available through a novated lease administered by Maxxia. Weekly costs have been determined based on the following assumptions:
1) The lease is a Maxxia fully maintained lease,
2) a 5 year term,
3) a residual value of 28.13% of the vehicle purchase price payable at the end of term,
4) Inclusion of finance and budgeted costs for: fuel or electricity, 8 replacement tyres, maintenance, roadside assistance, registration, CTP and comprehensive insurance,
5) Gross annual salary is $90,000
6) Vehicle purchased in NSW,
7) 15,000km per annum,
8) Salary Sacrifice 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. The indicative price quoted for the novated lease is based on vehicle quotations Maxxia has received within the last 45 days and does not include any optional extras. Any optional extras that you choose will affect the cost of the novated lease and residual value. If you purchase the vehicle on termination of the novated lease, GST will apply on the purchase price you pay at that time. The novated lease offer is based on the assumption outlined above, and is an indicative cost approximation of the selected vehicle and model shown and the amounts may change at the time the novated lease quotation is completed and finalised. Your individual circumstances have not been taken into account as this will affect the overall weekly cost amount and the benefits of a novated lease. These specials cannot be used in conjunction with any other offer. 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.