A Paywise Novated Lease is a type of salary packaging benefit which enables your employer to make payments from your salary to cover running costs and the finance for your vehicle. These payments are made at a set agreed rate over the period of your choice (you can choose between 1 & 5 years). The way your benefit is made up is by splitting your payment full payment (which includes all your fuel, maintenance & service, tyres & insurance) between a pre and post-tax salary contribution; this is where the salary packaging happens.

Salary packaging a vehicle with Paywise enables you to receive significant tax savings and discounts. Some of these include reduced purchase price of your vehicle (commonly known as fleet pricing), tax and GST savings on the purchase price of your vehicle and the running costs.

No, a Paywise Novated Lease will benefit most employees who earn a huge range of incomes. Paywise tailor your lease based on your salary, km’s driven, lease term and the car you would like to package, we do it all for you.

Claims for vehicle expenses can only be reimbursed to you when your account has sufficient spendable balance. If the claim amount is higher than your spendable balance, only a partial amount (equivalent to your spendable balance) will be paid. The remaining amount will be reimbursed when sufficient funds are available following subsequent payroll deductions.

To boost your spendable balance you may wish to consider increasing your salary deductions either temporarily or on an ongoing basis. You can request a budget adjustment here.

You are able to claim for charging costs for your PHEV through your novated lease account.

When charging at home, If you have an app or meter showing how much electricity has been used, you are able provide that as substantiation along with your electricity bill to determine the cost to reimburse. Ensure your power usage evidence and your electricity bill are attached to your claim submission.

You are also able to claim your public charging costs by submitting an online claim with Paywise.

You are able to claim for charging costs for your electric vehicle through your novated lease account. There are two ways you can claim EV charging costs and the way you choose to claim these costs has to be consistent across the FBT year:

Use your electricity meter and bill:

If you have an app or meter showing how much electricity has been used, you are able provide that as substantiation along with your electricity bill to determine the cost to reimburse. Ensure your power usage evidence and your electricity bill are attached to your claim submission. Where you use this method you are also able to claim your public charging costs.

Use the ATO’s EV charging rate:

The ATO Approved rate is 4.2 cents per kilometre. To calculate this determine the number of kilometres you wish to claim and multiply by 0.042. Ensure you take a photo of your odometer reading at the start and end of the period as evidence to attach to your claim submission via the Paywise App or Member Portal. Where you use this method you are not able to claim public charging. More information is available here.

Your spendable balance is different to the overall balance shown in your account. We protect funds for your monthly finance payment and Paywise insurance premium (where appropriate) and subtract these amounts from your overall balance to calculate your ‘spendable balance’, available for costs such as fuel, servicing, tyres and registration. If your spendable balance is low, you my require an adjustment to be made to your budget. You can request a budget adjustment here.

If you are travelling more than initially anticipated, it is likely that your fuel costs will be higher than budgeted. It can also increase your servicing and tyres costs. In order to allow for additional expenditure, a budget adjustment will need to be made by increasing the deductions that are made from your salary. To request an adjustment to your budget please complete this form.

Your salary deductions do not commence immediately upon settlement of your lease. Therefore, to avoid any FBT liability and to ensure required funds are collected to cover all obligations of the lease, adjustments may be made to your salary deductions within the first FBT Year (1 April – 31 March) of your lease. The amount of these adjustments (or ‘catch up payments’) will vary depending on the time lag between settlement and your first salary deduction, the number of pay periods remaining in the current FBT Year and the amount of each lease payment. Speak to your leasing consultant for more information.

Your novated lease operates by having deductions made from your salary to cover the budgeted costs of financing and running your car. While some budgeted costs are fixed and therefore known in advance, others are conservative estimates based on a number of variable factors including kilometres driven and the price of fuel.

Yes! Absolutely. Part of the service we offer at Paywise is selling your current vehicle. With our Nationwide dealer network, we can take away the hassle in securing the best trade-in price available for you. Note that under ATO rules, the sale price cannot be deducted from the cost of the new novated lease, but rather it will be distributed back to you.

You can salary package a vehicle for your immediate family. This means that you can package a car for anyone in the immediate family such as partners or your children.

Most larger employers offer salary packaging, and leases can be transferred to a new employer and packaging provider. If you do start interviewing for another job, it’s worth checking that any potential employer offers novated leasing as a staff benefit. Paywise would assist in providing all the relevant information necessary to help in the move should this happen during the lease. If the new employer does not offer packaging for novated leases, or you decide not to work for a few months, then you could take over the monthly lease payment to the financier from your own bank account via direct debit and pay for all the running costs form your own post-tax income.

If you are changing employers, whether you are moving to an employer that Paywise provides salary packaging services for, or you’re currently with Paywise and need to switch to your new employer’s provider, we can assist you with the transition process. To start the process, visit our changing employer page.

No, you do not need to use the vehicle for business related travel with a Paywise lease.

Visit https://www.paywise.com.au/motorpass/ to learn more about your fuel card and find out where you can use it. We recommend checking before you use your card. Remember to advise Paywise 48 hours prior to large purchases ($800 and above) such as tyres and servicing.

If you are covered under the Paywise comprehensive motor vehicle insurance policy, please click here for important information including how to make a claim.

While this is possible, it negates some of the key benefits of a novated lease: paying for expenses with pre-tax salary; receiving credits for GST on car-related expenses; and receiving fuel discounts via the Paywise Fuel Card.

Two options exist for such payments:

1. Pay the amount yourself and lodge a reimbursement claim: Use the ‘Claims’ option via the Paywise App or Member Portal and choose to have the funds deposited to your reimbursement bank account.
2. Make the payment directly from your Paywise account: Use the ‘Claims’ option via the Paywise App or Member Portal and choose BPAY.

Servicing and tyres can be paid for and claimed as above. Alternatively, you may also be able to pay for such costs using your Paywise Fuel Card, however please note the default transaction limit of $800 that applies to Paywise Fuel cards. To increase your limit please contact us.

All payments are dependent on sufficient funds being available in your novated lease account and it is highly recommended that you check your balance at the time of submitting your payment request. If insufficient funds are available, this may delay your payment being processed.

After all costs have been incurred, any excess funds in your account can be returned to you via your employer’s payroll service and will be subject to income tax.

It is important that your account maintains funds to cover upcoming costs. If your expenditure has exceeded the budgeted amount, we may ask you to increase your budget to maintain sufficient funds in your account. Not having sufficient funds in your novated lease account to meet your finance repayment obligations will result in missed payments and arrears to the financier, potentially impacting your credit profile. This would also impact on our ability to make reimbursements to you for vehicle expenses.