Comparing a novated lease to buying outright requires considering the tax benefits of salary packaging against the interest cost of the lease. A novated lease saves on income tax (payments come from pre-tax salary) and GST (you save the GST on the car purchase). These benefits are more significant at higher income levels.
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This calculator uses current published rates from Australian government and regulator sources. The result is an estimate for general guidance — it does not constitute personal financial advice. For decisions about your circumstances, consult a registered financial adviser, tax agent, or other professional. See editorial standards for how DecisionLab sources and updates its calculator data.