Novated Lease Services - Information for Employers

Novated Leasing

Novated leasing is an employment benefit that can be obtained in addition to traditional salary packaging arrangements.

A novated lease offers your employees a cost-effective way of acquiring a new or used car and incorporating it into their salary packaging benefit. The car leasing costs, together with ongoing operating costs such as fuel, servicing and insurance, can be packaged from their pre-tax salary and GST-free.

AccessPay offers a variety of different options including fully-maintained (all operating costs included) and finance-only options.

The benefits for employers includes:

  • Provision of vehicle benefits without the costs and administration required to manage a company provided fleet
  • Offering a seamless end to end service for employees that ensures a competitive
    packaging arrangement is established
  • Confidence in the quality and integrity of our offering to ensure employees are
    effectively guided through the process to enable them to make an informed decision
    suited to their financial circumstances
  • Providing you peace of mind in the delivery of a compliant service tailored to your
    employment policies and ATO legislation
  • No requirement for financial reporting for the vehicles; novated leases are not balance
    sheet items
  • Provision of comprehensive FBT reporting

Employer Obligations

Under a novated lease arrangement, the employer is liable for making the vehicle lease payments on the employee’s behalf. Through your organisation’s AccessPay service relationship, these payments are transacted on a fortnightly or monthly basis at no cost to the employer. Funds deducted from the employee’s salary and provided to AccessPay will be managed in an accurate and timely manner to ensure all necessary vehicle expenses are managed hassle-free.

At the conclusion of the lease period or at the termination of the employee’s employment with you, liability for the residual value of the vehicle reverts to the employee. AccessPay will provide the employee expert guidance to determine the best option for their vehicle management.

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