FAQ: Will the July 2013 Fringe Benefits Tax (FBT) legislation affect my existing Novated Lease?
Will the July 2013 Fringe Benefits Tax (FBT) legislation affect my existing Novated Lease?
IMPORTANT INFORMATION - With the change of Government on 7 September 2013, the below information is now incorrect. For up-to-date information regarding Novated Leasing, please click here. You can also submit a quick online enquiry and one of our expert finance consultants will be in touch to discuss the smartest options with you.
Existing Novated Lease contracts (entered into on or before 16th July 2013) will not be affected by the Fringe Benefits Tax (FBT) reform announced by the Government 16th July 2013 as long as they are not materially varied. For these contracts, the old statuatory formula method of calculating FBT will remain available under the end of the term of the Lease.