To try to encourage more drivers to pick up an electric car, the government has dished out an exemption to the fringe benefits tax for low-emission cars valued under $89,332 (the luxury car tax threshold).
That means when you use Oly to get into an EV, your novated lease payments can be taken entirely from your pre-tax salary, which could mean having to pay less tax.
Add an exemption to the 5% import tax for most EVs, and the fact that there is no upfront GST cost to you when using a novated lease on an EV, and you could get a shiny new electric Tesla 3 for the same cost per week as a petrol Mazda CX-5.
Oly has the answer to most common questions: check out the full FAQs list
Disclaimer: This general information doesn’t take your personal circumstances into account. Please consider whether this information is right for you before making a decision and seek professional independent tax or financial advice. Employers should independently consider whether a benefits program is appropriate for their organisation and seek advice where appropriate. Conditions and fees apply, along with credit assessment criteria for lease and loan products. The availability of benefits is subject to your organisation’s approval. Oly may receive commissions in connection with its services.