Novated lease

[#1]

Hi,

I have a Novated lease with my employer now and it is coming up for re lease. I want to get a new car and this current car. I have enough funds $4k in my Salary packaging account(budgeted costs were more than my actual cost) built up in the last 5 years. Can I use this fund for my new lease or do this need to be returned back through payroll(to be taxed) and start from zero for my new car?

Any help would be great, thanks

Niroop

[#2 · Accepted solution]

Hi @niroop

Salary sacrificing is a private arrangement between you and your employer.

You will need to refer to your employer and salary packaging provider for assistance.

For more information have a look at the salary sacrifice page on our website.

Hope this helps.

Thanks MayW