Dec 15 2020
6 Reasons Why Novated Leasing Will Boost Your Business
1. Save on payroll tax
Novated leasing reduces an employee’s total taxable income; therefore, you will be paying less money in payroll tax! Your employees aren’t the only ones to make great savings through having a novated lease – you do too.
2. Attracts quality employees
By offering salary sacrifice options such as a novated lease, your job offer is more competitive, and you instantly become an employer of choice. This additional incentive provides employees with the opportunity to own their dream car without costing you the world.
3. Be more competitive attracting employees who already have a Novated Lease
If you are allowing an employee to bring their Novated Lease with them, the car will be revalued for FBT to today’s trade in value. Therefore, their existing Novated Lease will be cheaper in their salary package with you. This gives you an immediate boost in a competitive offering.
4. Boosts employee moral
Everyone loves work perks! Offering novated leasing is a great way of rewarding your employees and boosting their loyalty by helping them afford their dream car. Without costing you a lot of time or money.
5. Risk free
With the lease being in the employee’s name, there is no risk to your business by offering novated leasing. Meaning, when the employee leaves you company the lease repayments don’t fall onto you! Also, as the vehicle is owned by the employee, it isn’t classified as an asset or liability on your balance sheet.
6. No administrative nightmare
Remunerator do the heavy lifting for you. Our streamline administrative processes mean that you aren’t left with a headache. We help and work with you through the set-up process, making it a simple and quick transition for you to offer Novated Leasing.