There are many complicated explanations provided on how a Novated Lease works. However, it really is a simple concept. You (the employee) take a lease with Mylease and then your employer deducts the money from your salary and makes the payments on your behalf. With the employer making payments on your behalf, the car is treated just like a company car and your employer will receive, and pass on to you, all the tax deductions that you would not ordinarily be entitled to.


Once the lease is setup and all costs are known, your employer will make the payments including GST on your behalf, and then claim the GST back from the tax office, so right up front you will be saving all the GST charges. On top of that some or all of the money that is deducted from your salary by your employer will come from your pre-tax earnings which means a saving on your income tax as well.


Mylease will help setup the lease for you and provide you with a monthly budget / estimate of all the likely costs associated with running the car e.g.: Fuel, Maintenance, Tyres, Registration, Comprehensive Insurance and Roadside Assistance. With “State of the Art” fleet management systems Mylease will continue to provide you with a range of reporting and cost saving measures for the operation of your car. Mylease will supply fuel cards and will pay all of your expenses as they occur so you will always have a full tank of fuel with minimal time and effort required for you to manage your car.

Novated Lease Process

Arranging to Salary Packaging a vehicle via a Novated Lease is not difficult - just follow these steps and make your work easier:

OUR PROCESS

  • Choose car

    Choose a New or Used car of your choice.

  • Quote

    Get Mylease Novated Lease Quote for your car.

  • Approval

    Confirm Finance with Mylease and Mylease will pay for your car.

  • Drive Away

    Drive away your Fully Maintained Novated Lease Car.

  • Step 1

    Select a vehicle you wish to purchase, we will get you pricing benchmark from our dealers if you like . You can compare the price offered by your dealer with our quote. If your chosen vehicle is used rather than new, ensure you have the correct model year, odometer reading and date of the last service that was completed on the vehicle.

  • Step 2

    Provide us an estimate of the number of kilometres you wish to travel every year, and you can decide what services you want to include i.e. fuel, maintenance, tyres, registration and comprehensive insurance.

  • Step 3

    We will prepare a Salary Packaging Estimate, please make sure that you provide us the following information available:

    • Annual kilometres you will travel

    • Annual gross salary (before-tax)

    • Number of years you will want to take the lease over

    Or if you like you can have a quick look at our novated lease calculator to obtain some estimates beforehand

  • Step 4

    When you're ready to go ahead, Mylease will arrange the vehicle lease finance for you and when the car is almost ready for delivery we will send you the documentation for signing.

  • Step 5

    Once your signed documents are returned we will pay the dealer for the car and you are right to pick it up and go!.

  • Step 6

    If you have selected a Fully Maintained Novated Lease you will receive your mylease Driver Pack along with Fuel Card, usually within seven days.