Hello,
I'm considering buying an electric vehicle using a novated lease. Using a novated lease means that your taxable income decreases by your lease payments (+GST), and I would assume that would be for the full amount considering there is currently no Fringe Benefit tax on EV novated leasing. What (if any) are the implications when the lower taxable income means the amount of Family Tax Benefit paid would increase. My partner and I are currently earning combined taxable incomes (with three kids) at around the point where we don't get a lot of Family Tax Benefit payment but would an EV novated lease for $15,000+ pa drop the total taxable income to a point where the family tax benefit increases significantly...or is there something I'm not calculating here. Please advise.
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