Oly is backed by one of Australia's largest and most trusted novated lease providers - MMS

Oly is your key to scoring a new car with a novated lease
Oly is your key to scoring a new car with a novated lease

Saving heaps on a new car? It's not legend with an Oly novated lease, it's legendary

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How novated leasing works

Oly could save you heaps on a car you love with a novated lease. By bundling your car payments with all your on-road costs and taking that payment straight from your salary, you could score the kind of awesome tax savings that only big, fancy companies used to be able to offer their employees. Oly’s changing the game, opening up the doors of new cars to more Australians.

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Did you know?

Oly could save you thousands of dollars in tax with a novated lease. Cha-ching!

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Recently viewed cars

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Saving heaps on a new car?

It's not legend, it's legendary.

A novated lease could put you in your dream car while also giving you the chance to score thousands in tax savings.

Without novated lease

BYD Shark 6

$0

Estimated tax savings over 5 years

Figure is based on

Annual salary

$90,000

Car value

$60,881

With novated lease

BYD Shark 6

$36,841

Estimated tax savings over 5 years^

Figure is based on

Annual salary

$90,000

Car value

$60,881

Oly's hottest cars

BYD Seal__BYD__SEA

GWM Ora__GWA__ORA

Hyundai Ioniq 6__HYU__IO6

MG ZS__MG-__ZS-

Novated lease calculator Australia

Crunch the numbers

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How much do you drive each year?

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^Vehicle price displayed is based on the current recommended retail price (as obtained monthly from market experts) plus an additional 4.5% to allow for government charges (including stamp duty). This price and the charges may vary depending on your state/territory and when the car is ordered.
Your annual salary before tax
Oly needs this info to help calculate estimated pricing for you.

Finance lowdown

How much tax could I save with a novated lease?+

Weekly cost

Fortnightly cost

Monthly cost

+ Estimated tax savings is the amount you could save if you salary package the car and pay for the lease payments and operating costs with pre-tax salary or a combination of pre-tax and post-tax salary, as compared to if you do not salary package and pay with post-tax salary. Please see ‘Important information about calculations’ below for further information.

Features & inclusions

Car payments

Fuel or charging

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Important information about calculator

Disclaimer: This calculator is an educational tool only and should not be relied on for the purpose of making a decision about a financial product. Calculations produced are estimates only that do not take your personal circumstances into account and should not be relied on as an accurate quote or offer of finance. The figures generated by this calculator are based on several factors and assumptions. To view a full list of the terms & conditions, and the applicable assumptions (in addition to those already set out in the table), click below. Oly recommends you seek professional financial and taxation advice before making any financial decisions regarding a novated lease.

Important information about calculations

Calculator assumptions

  • This calculator is provided for illustrative purposes only.
  • It does not take into account your personal objectives, financial situation or needs.
  • Additional fees and charges may apply, along with credit assessment criteria for certain products.
  • The availability of benefits is subject to your employer's approval.
  • PAYG tax rates effective 1 July 2024 have been used.

Important information about calculations

All calculations on this website are for illustrative purposes only and use PAYG tax rates effective 1 July 2024.

Novated leasing calculations assume that:

  • The employee contribution method has been used (pre and post-tax funds). The estimated annual operating costs includes estimates of fuel/electricity, maintenance, tyres, registration, comprehensive insurance.
  • The residual cost is calculated at 28.13% for novated lease as per ATO guidelines.
  • If you are an employee of a public health, charity or not-for-profit organisation, the calculator results assume you are salary packaging a novated lease above your FBT exemption cap limit.
  • An indicative annual vehicle management service fee of $396.00 (incl. GST) has been included in your operating expenses. This fee may vary depending on your employer.
  • The amount financed includes a finance establishment fee of $475.00 (incl. GST) which is charged by the financier.
  • GST of 1/11th is payable on your ECM contributions. Input tax credits (i.e. a refund of GST) may be paid into your salary packaging account by your employer, assuming they are eligible for GST input tax credits and they will pass on the benefit to you. State stamp duty rates apply.
  • Tax, benefit & Medicare levy calculations are approximate, and assumes no other taxable income is received. HECS/HELP repayments and taxation surcharges are excluded.


Please contact Oly for an accurate estimate of your annual net benefit, leasing costs and the fees that may be applicable to you.

This calculator provides general information only by using some generic taxation scenarios and some publicly available general material published on the ATO's website. It does not offer a complete overview of applicable taxation methods.

For electric vehicles, plug-in-hybrid vehicles and plug-in hydrogen fuel cell vehicles, please consider the following:

  • The estimated tax savings is the amount you could save if you salary package the vehicle using pre-tax salary or a combination of pre-tax and post-tax salary as compared to not salary packaging your vehicle and paying the vehicle running and lease costs only from your post-tax funds.
  • For electric car FBT exemption to apply, this calculator assumes that all of the following conditions are met:
  1. the car selected is an eligible zero or low- emissions vehicle;
  2. the value of the car at the first retail sale was below the luxury car tax threshold of $91,387 for fuel efficient vehicles and;
  3. the car is first held and used on or after 1 July 2022.
  • Please note that, from 1 April 2025, a plug-in hybrid electric vehicle will not be considered a zero or low emissions vehicle under FBT law. However, your employer can continue to apply the exemption if both the following requirements are met: 1) Use of the plug-in hybrid electric vehicle was exempt before 1 April 2025. 2) You have a financially binding commitment to continue using the vehicle for private use on and after 1 April 2025. For this purpose, any optional extension of the agreement is not considered binding.
  • Estimated running costs may include those detailed above as well as electricity.
  • This calculator does not use or consider any individual’s own financial circumstances at all.
  • While electric vehicles on novated lease are FBT-exempt up to the Luxury Car Tax threshold of $91,387, they are required to be reported on applicable employee payment summaries.
  • Oly recommends that employees seek independent financial and taxation advice on what impact this could have to their personal circumstances, including government payments.
  • Users must not rely on or consider any results generated by the calculator as personal taxation advice.

Contact Oly

Complete the form and Oly will get in touch very soon.

Keen to talk now? Give Oly a call on  1300 328 182.

Oly is available:
9am-5pm AEST Monday - Friday
excluding public holidays

*Questions marked with an asterisk need to be answered before you can submit the form.

First name__text

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Employer__text

State__dropdown__ACT;NSW;NT;QLD;VIC;SA;TAS;WA

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By submitting this form, I agree to Oly contacting me about its products, services and offerings. I understand Oly will collect my personal information and that I can read more about how Oly handles my personal information by reading Oly’s Privacy Statement.__disclaimer

2
2024
https://api.grs.mmsg.com.au/vehicle-info/v1
ee165884b5d943fb9ef3cdee883135cc
https://api.grs.mmsg.com.au/cmt/maxxiacalcs/v1/api/Calcs/v1/ReadNovatedLeaseQuoteWeb
a49272c8a8b14b59aa14e729b96cc522
https://110267-mmsgoly.adobeioruntime.net/api/v1/web/mmsg_test/ContactOlyCalculator
By submitting this form, I agree to Oly contacting me about its products, services and offerings. I understand Oly will collect my personal information and that I can read more about how Oly handles my personal information by reading Oly’s Privacy Statement.
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See all of Oly’s novated lease calculators

See all of Oly’s novated lease calculators

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Benefits of a novated lease with Oly

You could save stacks

Oly's an industry insider, which means you could be an insider too, with access to pricing that’s usually reserved for the big leagues. Plus, Oly hooks you up with upfront GST savings on the car and the running costs, without the need for a deposit. Nice.

It's easy

Oly takes care of all the admin, helps find your car, gets the finance and insurance sorted and figures out the automatic payment from your salary with your boss. Oly’s handy app even lets you check your budget and submit claims on the run.

All perks, no worries

Since a novated lease is an opportunity to salary sacrifice a new car, it’s an easy way to drive your salary further (AKA a chance to save on tax). Think of it as a big company perk without having to work for a big company.

Electric car savings with a novated lease

You could save thousands of dollars in tax each year by getting behind the wheel of an EV with a novated lease. Oly explains the government’s Electric Vehicle Discount and how it could mean scoring an electric car for the same price as a much cheaper petrol model.

1:30 minute video

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Learn from Oly

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Hyundai and Oly go together like road trips and playlists: perfectly in sync!

Oly and Hyundai have teamed up to bring novated leasing to hundreds of Hyundai dealerships across Australia - whoop!

2:45 minute read time

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Electric cars

The EV FBT exemption: how does it work and who’s eligible?

Electric vehicles (EVs) are becoming super popular thanks to a 2022 government tax cut.

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Novated leasing vs buying outright: which is better for you?

Oly answers all your questions about buying vs leasing a car to help make your decision easier.

3 minute read time

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More Oly goodies

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Get a quote

Oly gets it - your time is precious. Get in touch and, in most cases, an Oly expert will put together a quote within hours.

Request a call

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Super simple app

Quickly claim your expenses anytime, anywhere. The free Oly app lets you check your budget, submit receipts and manage your account in just a few clicks.

Download now

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Get big business perks

Do you run a small biz and want to give your employees a bonus without spending a cent? Oly levels the ‘car perk’ playing field by making novated leases available to small business staff.

Get in touch

^ Things you need to know

^ Displayed price is only available through a novated lease administered by Oly. Estimated costs have been determined based on the following assumptions:
1) The example assumes that the car is an eligible zero or low emissions vehicle,
2) The lease is an Oly fully maintained lease,
3) A 5-year lease term,
4) A residual value of 28.13% of the vehicle purchase price payable at the end of term,
5) The interest rate used to calculate the weekly lease payment (in the case of a novated lease) and the weekly repayment (in the case of a car loan) is the same,
6) Gross annual salary of $90,000,
7) An annual distance travelled of 15,000kms,
8) The value of the car at the first retail sale was below the luxury car tax threshold of $91,387 for fuel efficient vehicles,
9) The car is first held and used on or after 1 July 2022, and
10) The vehicle is purchased in NSW.

Additionally, the estimated annual operating costs includes estimates of fuel/electricity, maintenance, four replacement tyres, registration, CTP and comprehensive insurance, roadside assistance, and fleet management fee have been calculated on a GST exclusive basis, on the assumption that your employer will be entitled to GST input tax credits and that they will pass on the benefit to you. GST is payable on your ECM contributions. State Stamp Duty rates apply. PAYG tax rates effective 1 July 2024 have been used. The indicative price quoted for the novated lease is based on vehicle quotations received on 1 June 2024 and does not include any optional extras. Any optional extras that you choose will affect the cost of the novated lease and residual value. If you purchase the vehicle on the termination of the novated lease, GST will apply on the purchase price you pay at that time. The novated lease offer is based on the assumption outlined above  and is an indicative cost approximation of the selected vehicle and model stated and the amounts may change at the time the novated lease quotation is completed and finalised. Your individual circumstances have not been taken into account as this will affect the overall weekly cost amount and the benefits of a novated lease. Savings shown are indicative and reflect estimated tax savings over the full-term of the lease. The total amount saved is a comparison between a novated lease based on the assumption outlined above and the purchase of a vehicle and payment of running and maintenance costs using post-tax earnings. Actual savings will depend on your personal circumstances and may vary depending on the vehicle model and price. Oly recommends that you seek independent financial and taxation advice.

Legendary terms and conditions

This general information doesn’t take your personal circumstances into account. Consider whether this information is right for you before making a decision and seek professional independent tax and financial advice. Conditions and fees apply, along with credit assessment criteria for lease products. The availability of benefits is subject to your organisation’s approval.

Oly may pay and/or receive commissions in connection with its services.

Vehicle displayed is for illustrative purposes only.