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How much can I save with a novated lease?

Exact figures for every salary bracket, based on ATO 2025–26 tax rates. All examples use a 3-year lease, 15,000km/yr, NSW, standard employer.

EV novated lease — $62,000 car (e.g. Tesla Model 3 / BYD Sealion 7)

FBT fully exempt. No post-tax ECM required. Largest savings available.

Salary	Marginal rate	Annual tax saving	GST saving	Annual benefit	Fortnightly cost
$60,000	32%	$5,135	$5,636	$10,771	-$451
$80,000	32%	$5,396	$5,636	$11,032	-$441
$95,000example	32%	$5,396	$5,636	$11,032	-$441
$100,000	32%	$5,396	$5,636	$11,032	-$441
$120,000	32%	$5,396	$5,636	$11,032	-$441
$150,000	39%	$6,446	$5,636	$12,082	-$401

Budget EV — $45,000 car (e.g. BYD Atto 3 / MG ZS EV)

Still FBT exempt. Lower upfront cost, lower savings but excellent value.

Salary	Marginal rate	Annual tax saving	GST saving	Annual benefit	Fortnightly cost
$60,000	32%	$4,318	$4,091	$8,409	-$353
$80,000	32%	$4,318	$4,091	$8,409	-$353
$95,000	32%	$4,318	$4,091	$8,409	-$353
$100,000	32%	$4,318	$4,091	$8,409	-$353
$120,000	32%	$4,318	$4,091	$8,409	-$353
$150,000	39%	$5,263	$4,091	$9,354	-$317

Petrol / hybrid — $62,000 car

FBT applies. ECM post-tax contribution reduces savings vs EV.

Salary	Marginal rate	Annual tax saving	GST saving	Annual benefit	Fortnightly cost
$60,000	32%	$2,298	$5,636	$7,934	-$665
$80,000	32%	$2,298	$5,636	$7,934	-$665
$95,000	32%	$2,298	$5,636	$7,934	-$665
$100,000	32%	$2,298	$5,636	$7,934	-$665
$120,000	32%	$2,298	$5,636	$7,934	-$665
$150,000	39%	$2,800	$5,636	$8,436	-$645

How to read these tables: Annual benefit = income tax saving + GST saving on the car purchase price (1/11th of purchase price). Fortnightly cost = the reduction in your take-home pay per fortnight — this is what the lease actually costs you in real cash terms, after all tax effects.

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