Polo GTI Discounted

[NickZ]

Has anyone any experience leasing a new GTI through salary sacrifice and novated lease? Someone at work reckons I might get around $4000 off the price because I won't be paying taxes since I'll be getting it through the Commonwealth Govt Dept that I work for.

Cheers

Paul

You really need to get advice for your particular situation. But the general rule is: The more you earn and the more kms you drive, the more beneficial it is. That is because the FBT rate (which is effectively the income tax rate you pay on the salary sacrifice) decreases the more kms you drive, and you also save part of the GST on the car.

[sports racer]

One of the reasons I'm going with the Polo is the mileage I do, currently around 1400k's per week. It should get a bit better when we sell our house in Sydney and I don't have to do the Canberra-Sydney run every weekend.

Anyone want to buy a house in Sydney?

Cheers

Paul

[Matt P]

if you're doing those sort of kays, you'd be silly not to do a novated lease

thats how i got my pogo

pm me if you want some info as i'm in the industry (although i wont be able to help you with numbers, because youre govt then you'll have an exclusive supplier - ie a company youre forced to use)

[langers_sydney]

yep , I'm on a novated lease as well, works out beautifully actually....I'm pretty sure I got a three or four grand dealer discount...Now when I get petrol I just hand over a fuel card, love;y!!

[NickZ]

1400ks a week? Novated lease for sure

However, if you are moving soon, think about what k's you will be driving. Any less than 45000km a year and FBT starts getting higher, but for most people it is beneficial with a minimum of 25000km.

[Blitzen]

I'm on a Novated Lease through a company called Smart Salary, who deal with government departments such as the Defence Force, Police, Teachers and Nurses...Best thing I have ever done.

[PeterHBne]

I bought mine under a novated lease - as has been said, doing lots of kms and having a higher salary is the key. It is a good deal.

Just be sure (as sure as you can be anyway) that you believe the job you are going to is secure - if you have any doubts, make sure that you can handle going back to to having to pay for lease payments and then other car costs out of post tax dollars (as I did........................)

[RhysQ]

i'm in property valuation and the guys in the office average approx 250-300kms per day. when i get registered and become a valuer i will be upgrading under a novated lease for sure. they all are on it and say it is definitely the way to go, especially with the k's put on the car.

[Blitzen]

I bought mine under a novated lease - as has been said, doing lots of kms and having a higher salary is the key. It is a good deal.

Just be sure (as sure as you can be anyway) that you believe the job you are going to is secure - if you have any doubts, make sure that you can handle going back to to having to pay for lease payments and then other car costs out of post tax dollars (as I did........................)

I'm pretty secure in my lease and my job atm...The Government owns me for another 4 years...

[Matt P]

However, if you are moving soon, think about what k's you will be driving. Any less than 45000km a year and FBT starts getting higher, but for most people it is beneficial with a minimum of 25000km.

not true, depends on earnings. I have customers doing like 5000kms a year that still are getting a decent benefit out of packaging their car.

also FYI, the brackets are

0-15k
15-25k
25-40k
40k+

might wanna look into that before giving advice kthx