No person should rely on the calculations of this package without first obtaining independent financial advice.

Interleasing (Australia) Limited A.B.N. 23 008 589 562 expressly disclaims any liability and responsibility upon the whole or any part of the contents of this package.

Click here to return to the previous page.

General Terms & Conditions

The Novated Lease Calculator is designed by Interleasing to provide a guide to an individual in the approximate costs and estimated benefits (if applicable) of participating in the Interleasing Novated Lease program. The calculations include the estimates of the vehicle lease and operating costs specific to the chosen vehicle, lease term, state of use and kilometre usage.

Interleasing has used calculations, costs and estimates in line with market conditions at the date of preparation and may be altered at any time. The calculations and cost estimates produced are not definitive and accordingly do not represent an offer by Interleasing to enter into any contractual arrangement.

Assumptions

1. Employer is a Company
2. Employee has obtained approval from their Employer to participate in the Novated Lease program
3. Employee has no determined business use of the vehicle and the vehicle is provided to the employee as a Salary Packaging benefit
4. The Income Tax Rates default to standard Individual and company rates under Australian Taxation Office (ATO) law for 2006/2007.
5. Medicare levy is 1.50%
6. Annual Gross Salary is your Taxable income (i.e. gross cash salary excluding benefits)
7. There is no change in the company or individual tax rates during the period the vehicle is leased.
8. The employee would otherwise finance a vehicle under lease or hire purchase on the same finance terms and conditions as the Novated Lease.
9. Vehicle price, registration and government taxes and duties are based on the cost in the applicable state of use. Rental Business Duty is calculated at the rate applicable in each state.
10. The Fringe Benefits Tax (FBT) calculations are based on the Statutory Formula Method as published within the Fringe Benefits Tax Assessment Act 1986 and any of its amendments, interpretations, bulletins and rulings.
11. The vehicle operating costs calculations are based upon historical information obtained from Interleasing’s existing vehicle portfolio.
12. Interleasing disclaims any warranty in terms of defaulting to any given variable(s), having regard to and not limiting the generality thereof, the distance travelled, operating conditions and any other variable likely to have an impact (favourable or adverse).
13. Residual values, for finance Lease transactions, default to fall within the guidelines issued by the Australian Taxation office. These are detailed in the Information document produced within this website.
14. All Lease rentals and Operating Costs are calculated as though they are payable “monthly in advance”.