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Compare Your Current Vehicle
Costs with a Novated Lease
Compare your current vehicle costs with indicative Novated Lease scenarios for petrol, diesel and eligible electric vehicles.
4Comparison Results
Estimate only, not a quote or financial, tax or credit advice — see "The numbers behind the check" below for the assumptions used.
The numbers behind the check
Estimate — for review
This tool provides estimates for general information only and is not financial, tax or credit advice. Novated leasing eligibility, savings and tax outcomes depend on your employer, income, vehicle, lease term and running costs. EV eligibility for the FBT exemption is subject to price and eligibility thresholds. Terms and conditions apply. Paywise can provide a personalised quote.
Estimated Net Annual Cost Comparison
How the numbers are built
About these figures
- GST treatment for both new-vehicle leases: the vehicle price and GST-applicable running costs (fuel, servicing/tyres, insurance) are financed net of GST, since the lease/finance company claims this back as an input tax credit — both figures are divided by 1.1 before they're financed or packaged. Registration and stamp duty are government charges with no GST component, so they're left as entered/calculated. The employee's post-tax (ECM) contribution is calculated on the GST-inclusive FBT statutory value, unchanged — this is the amount actually charged to the employee, GST included.
- FBT on the petrol/diesel lease uses the statutory formula (20% of the financed vehicle amount) as the annual taxable value, offset dollar-for-dollar by an employee post-tax contribution (the "ECM" method most Australian novated lease providers use to bring FBT payable to nil). The rest of the packaged amount comes from pre-tax salary.
- The EV isn't chosen separately. It's automatically matched to a similarly sized electric vehicle based on the make and model selected under "What your car costs you now", using a built-in size/segment lookup table (e.g. a mid-size SUV maps to a mid-size EV). This is a practical stand-in, not a real market equivalence — there's no close EV match for every segment, utes especially, so some matches are the nearest available rather than a precise one.
- For the purposes of this estimate, the EV is assumed to qualify for the FBT exemption under the Commonwealth zero/low emissions vehicle exemption, so the entire packaged amount is salary-sacrificed pre-tax. Leases entered into while the vehicle sits under the threshold keep this treatment for the life of that lease even as the exemption narrows for new arrangements from 1 April 2027.
- The fuel-efficient LCT threshold used for the EV eligibility check is fixed in the background at $91,387 for 2025–26 and $91,661 for 2026–27, matching the tax year selected at the top. If the matched EV's price sits above it, a warning appears on its card.
- Income tax uses the resident tax brackets for the selected year plus a flat 2% Medicare levy. It does not model the Medicare levy low-income phase-in, HECS/HELP repayments, Division 293 tax, or how reportable fringe benefits can affect other income tests (e.g. family assistance, Medicare levy surcharge).
- Pre-tax deductions entered under "About you" (e.g. an existing salary sacrifice arrangement or extra super contributions) reduce the taxable income used to calculate the Estimated Tax Benefit for the new car options, since they affect which tax bracket the packaged amount is calculated against. Post-tax deductions (e.g. child support, an existing personal loan) don't affect this tax calculation — they're only used in the "estimated take-home pay" figure shown for context.
- Servicing & maintenance and tyres aren't collected as individual inputs for any of the three options. A generic combined estimate of $1,000/yr is used in the background instead. Registration & CTP is also calculated in the background, using a rough average by state selected under "What your car costs you now": WA $1,000, NSW $1,200, VIC $850, QLD $950, SA $950, TAS $750, ACT $950, NT $750. These are indicative averages for a typical passenger vehicle, not a quote for a specific vehicle or postcode.
- The petrol/diesel lease uses the same vehicle selected under "What your car costs you now", with its price auto-filled from the indicative RRP built into that vehicle list. Dual-cab utes (Hilux, Ranger, Triton, Navara, Amarok, D-Max, BT-50, Colorado) aren't in this vehicle list — mainstream one-tonne-class utes generally have a payload at or above 1 tonne, which this tool restricts to under 1 tonne, so none of the common models qualify.
- Indicative RRP values are approximate drive-away list prices built into the tool for convenience — they are not live Redbook (or any other) valuations.
- Stamp duty and a one-off new-registration fee are added to both new vehicles' price and financed as part of the lease, based on the state selected above. WA uses RevenueWA's actual sliding-scale formula (2.75% up to $25,000, sliding to 6.5% between $25,000–$50,000, flat 6.5% above), applied to the vehicle's RRP alone — dealer delivery, registration and financing charges are excluded from the dutiable value, per RevenueWA's rules. Other states still use a single indicative flat rate (NSW 3%, VIC 4.2%, QLD 3%, SA 4%, TAS 3.5%, ACT 4%, NT 3%), since real duty in those states is also tiered and, in some cases, varies by cylinder count or emissions — a simplification, not an exact calculation. The residual (balloon) is calculated on the full drive-away price — RRP + dealer delivery + stamp duty + registration — since that reflects what it would actually cost to buy the car outright. The FBT statutory value uses a narrower base (RRP + dealer delivery only), since the ATO's rule for the statutory formula specifically excludes stamp duty and registration, but not delivery.
- Lease finance is calculated at a fixed 9.99% p.a. interest rate and isn't user-editable. The residual (balloon) follows the ATO's minimum residual value guide for the lease term chosen. Both new leases include a 2-month payment deferral at the start of the term — no repayments are due in that period, and the interest that accrues during it is capitalised into the loan and repaid over the remaining months, so the ongoing repayment shown is calculated on that basis rather than a plain even split across the full term.
- A $500 establishment fee, $900 origination fee, and $440 procurement fee are all added to the net amount financed for both new leases (alongside stamp duty and the registration cost), so they're capitalised into the loan and repaid over the term rather than charged upfront. A $49/month management fee (ex-GST) is added to the ongoing running costs for both new leases — it's already treated as ex-GST, so it isn't divided by 1.1 again.
- The one-off registration cost financed into each new lease covers CTP, the registration fee, and a number plate fee — built from the same per-state annual figure used for ongoing registration, plus a one-off plate fee (WA $150, NSW $50, VIC $50, QLD $30, SA $30, TAS $30, ACT $40, NT $30). Because this tool uses one representative annual figure across the whole lease term rather than a full year-by-year schedule, this one-off amount and the first year of the ongoing annual registration estimate do overlap in what they represent — a simplification worth knowing about, not a double-counting error.
- Provider administration fees, comprehensive insurance quotes, and exact GST treatment for every line item are simplified — confirm these with your novated lease provider.
- These are indicative estimates for comparison only. They are not financial, taxation, or credit advice — confirm final figures with your novated lease provider and, where relevant, a registered tax agent.
CHECKING YOUR NUMBERS
$0
back in your pocket / fortnight
Over 5 years: $0 (estimated difference)
Estimate only, not a quote or financial, tax or credit advice. Based on the figures you've entered and the assumptions in "The numbers behind the check" below — actual eligibility, savings and costs depend on your employer, income, chosen vehicle and lease terms, and rates and fees can change. Past figures and projections shown are not a guarantee of future results.