FAQ: My Novated Lease is ending or the residual is due, will the new FBT rules apply to me if I want another Novated Lease?
My Novated Lease is ending or the residual is due, will the new FBT rules apply to me if I want another 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.
If the term of your Novated Lease contract (entered into on or before 16th July 2013) is coming to an end and/or residual is due, the July 2013 Fringe Benefits Tax (FBT) reform will affect you if you wish to apply for another Novated Lease.
All new Novated Lease contacts entered into post 16th July 2013 will be subject to the new rules.