Motor vehicle salary packaging
You could save money with QPCU’s enhanced motor vehicle salary packaging service. If you’re looking at buying a new or used car and you need finance - novated leasing* may be a tax effective way of getting the car of your dreams.
Did you know that all Queensland Government employees can potentially take advantage of QPCU’s salary packaging service?
With motor vehicle salary packaging a portion of the costs associated with your car is paid for using your pre-tax income, so when your tax is calculated, it’s based on a lower income, reducing the amount of income tax you pay.
Potential benefits of salary packaging include:
- Higher disposable income after motor vehicle expenses.
- The convenience of having lease payments taken from your pre-tax income.
- Novated leasing enables you to stay up-to-date with the latest car models as you can simply ‘roll your vehicle over’ at the end of the term and trade it in, providing the trade-in covers the residual payment.
- You may have the option to purchase the car at the end of the lease if you want to.
- The interest rate for novated leasing remains fixed over the term of the lease.
- Almost any car can be salary packaged (including secondhand and demo cars), but they should be no older than eight years at the end of the lease and have a carrying capacity of less than 1 tonne.
Call us today on 13 77 28 for more information.
Motor vehicle salary packaging consultants are employed by Hasthaven Pty Ltd 68 010 605 357
*Novated leasing is a method of salary packaging a car, under which an employee leases a car and the employer agrees to take on the employee’s obligations under the lease, paying the monthly lease rentals and running costs from the employee’s pre and post-tax income. Employer eligibility requirements may apply.
This information does not take into account your objectives, financial situation or needs. Before acting you should consider the appropriateness of this information with respect to your situation. It is recommended you obtain professional financial, legal and taxation advice before making any financial decisions.