Novated Leasing
Full Circle Partners have teamed up with SG Fleet to potentially help you save thousands on a new vehicle
What is Novated Leasing?
Novated leasing is a smart, tax-effective car finance option that allows you to drive the car of your choice while saving on running costs and simplifying vehicle management. It’s an arrangement between you, Full Circle Partners, and SG Fleet, enabling you to finance your vehicle and cover all its associated expenses with pre-tax income. This reduces your taxable income, leading to significant tax savings, while offering the convenience of managing all car costs with one predictable payment. The result is easy budgeting, reduced taxes, and a streamlined vehicle ownership experience.
To learn more about the basics of Novated Leasing, click here.
How it works:
1. Select the vehicle of your choice
2. All costs are bundled into a single, regular payment
3. You sign a novation agreement, and we make payments to SG Fleet on your behalf
4. Your lease begins!
For more details, click here.
First, select the car you want – new, used, or even your current vehicle. SG Fleet helps you find the best pricing, leveraging fleet discounts for better value.
You then enter a finance lease with SG Fleet, and a novation agreement is signed to transfer some obligations to your employer. Your employer makes regular payments to SG Fleet, which covers the car’s running costs, including finance, fuel, servicing, repairs, registration, insurance, and more.
A portion of your salary is deducted each pay cycle to cover the costs, making budgeting simple. SG Fleet handles everything, including monitoring expenses to keep your lease on track.
Key Benefits for Full Circle Partners Contractors
- Income Tax Savings: With a novated lease, you reduce your taxable income, potentially saving thousands in income tax each year.
- GST Savings: SG Fleet purchases the car and claims back GST, meaning you save on the purchase price as well as the running costs, including fuel, maintenance, and servicing.
- Fuel & Charging Cards: Access a fuel card for nationwide savings and the convenience of paying at the pump or in-store, with added benefits like reward points.
- Flexible Car Options: You can novate any car that suits your needs, whether it’s new, used, or your current vehicle. SG Fleet also helps with trade-ins, making it easier to upgrade.
- Complete Vehicle Management: SG Fleet manages all aspects of your vehicle, including servicing, maintenance, repairs, and insurance – saving you time and effort.
- Budgeting & Online Account: SG Fleet simplifies budgeting by consolidating all vehicle expenses into one regular payment, and you can manage everything online through your SG Fleet account, including submitting receipts and tracking transactions.
Click here for more information
End of Lease Options
At the end of your lease term, you have a few options:
- Upgrade: Sell your car and use the proceeds to pay off the residual value, then upgrade to a new vehicle.
- Extend: Keep your current vehicle and extend the lease (subject to finance approval).
- Payout: Pay off the remaining balance and either keep or sell your vehicle.
Eligibility and How to Get Started
Eligibility for a novated lease depends on your employer’s salary packaging policy. You don’t need to earn a high salary to benefit, and even if you don’t use your car for business, you can still make substantial savings. When you reach out to SG Fleet, a dedicated consultant will assess your situation and show you exactly how much you can save.
Novated leasing offers an easy, flexible, and tax-efficient way to own and run your vehicle while saving money. If you’re a Full Circle Partners contractor, this could be the perfect solution to simplify your vehicle expenses and enjoy a new set of wheels with all the benefits of a company car.