Novated Lease Calculator

Your transparent Novated Lease starts here
Find out how much better off you could be with a Novated Lease from stratton. Calculate your estimated annual savings and then get a no-obligation, transparent quote

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Disclaimer: All calculations shown above include a number of assumptions and are for illustration purposes only and serve as a guide only as to savings that you might achieve from salary packaging a vehicle via a Fully Maintained Novated Lease. These calculations and illustrations do not represent or replace professional finance and tax advice. stratton accepts no responsibility for reliance on the calculations provided above.
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Take home pay after lease payments

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Your Caltex StarFleetPlus card is accepted at over 2000 service stations to help manage your fuelPlus get an extra 4c 0ff per litre.

24 Hour Roadside Assistance

Just call the number on the back of your StarFleetPlus card. Should you need Roadside Assistance just call 1800 225 111.

Service and Maintenance

3,500 fleet service providers nationwide. And get up to 20% off.


Your finance payments are managed by stratton and your employer

Insurance and Registration

Your registration and insurance costs are included in your budgeted running costs

Look we know this is complex so let us break it down for you

Who is eligible for a novated lease?

If you are, full time or permanent part time and your employer supports salary packaging.

What is a Novated Lease?

A Novated Lease is a three-way agreement between you, your employer, and stratton that bundles together all the finance and running costs of your car and allows you to pay with pre-tax dollars

The difference between a Novated Lease and a regular car loan?

  • Tax and GST savings
  • Budgeted running costs
  • What are the benefits of a novated lease?
  • See above.

What can be included under a novated lease?

  • Vehicle finance
  • Comprehensive insurance (or you can arrange your own)
  • Registration
  • Fuel
  • Maintenance such as servicing, tyres, battery replacement and repairs
  • Roadside assistance
  • Plus awesome stratton service

What is the residual value and how is it determined?

The residual value (sometimes known as a balloon payment) is the amount of money remaining on your car at the end of the finance period. This amount is fixed and attracts GST. The residual value is calculated at the beginning of the lease and is payable at the end of the term.

The minimum residual value is set by the ATO and is usually expressed as a percentage of the amount financed.

Once your lease term expires you’ll need to pay the residual value. Or you may have the option to re-finance your car for another term.

If the market value of the vehicle is less than the residual value, the resultant shortfall will be your responsibility. Likewise, should the market value be more than the residual value, the surplus shall be yours to keep (tax free)!

What kind of car can I get with a novated lease?

You’re available to choose any car, any make, any model from anywhere within Australia. This can be:

  • A new car (get access to fleet discounts for the very best price)
  • A second-hand car (with some restrictions for age and value)
  • Your current vehicle (under a sale and lease-back (do we have a definition?) arrangement)

What happens if I change jobs or resign?

If you leave your employer for any reason, your lease agreement ( the deed of novation) terminates immediately.

Don’t worry there are plenty of options we can help you with.

You can then choose to either:

  • Continue your monthly lease payments yourself (un novated)
  • Pay out the remaining amount of the lease (including the residual value) and keep or sell the car
  • Transfer your novated lease to a new employer

Here’s the part most people find complicated.

What is Fringe Benefits Tax (FBT) and how does it work?

When you take out a novated lease you reduce your taxable income, which reduces the amount of income tax you need to pay. To make up some of the shortfall, the Australian Taxation Office (ATO) levies another payment called Fringe Benefits Tax (FBT) on the non-salary portion of benefits your employer provides.

The Statutory Formula method is a common method of calculating Fringe Benefit Tax (FBT).

The FBT Taxable Value is calculated as follows:

FBT Taxable Value = FBT Capital Value x Statutory Percentage x (Number of days in the FBT year the vehicle is available for use / 365)

The FBT Rate is currently 20%

You can also pay for some of your novated lease expenses from post-tax income to reduce your FBT payments. This is known as the Employee Contribution Method (ECM). We’ll work with you to structure your novated lease payments using the right combination of pre-tax and post-tax dollars to reduce your FBT liability and maximise your income-tax savings.

To reduce your FBT liability all you have to do is pay a small portion of your novated lease payment from your post tax salary.

If this sounds complicated we can help you.

What is the FBT year?

FBT is calculated based upon the FBT year, which runs from 1 April to 31 March.

What if my car travels more or less then I estimated?

We know life never works out as planned but your novated lease is flexible enough to keep up with your life. Your running cost budget can be altered at any time to reflect any change in circumstances. Any unspent money can be reimbursed through your payroll at any time if you feel you have an unnecessary surplus.

Can I package more than one car?

You can package as many vehicles as you’d like, as long as your employer agrees and you’re able to service the monthly payments. You can extend the benefits of novated leasing to more than one car.

Chat with us about your car leasing options if you’d like to package up two or more vehicles.

How does a novated lease benefit my employer?

There are a few reasons that an employer would choose to offer a novated lease option for their employees.

  • It helps to attract and retain top employees who appreciate the flexibility of salary packaging
  • Allowing you access to your pre-tax wage has a similar effect to a pay-rise, with none of the costs to your employer.
  • Your employer will not need to supply and manage a company vehicle for you to use for business travel