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EquiLease - A new way to novate

Over 50% of Australian vehicles are too old to qualify for traditional

novated leasing.

By using with

EquiLease

, you can benefit from an ATO-approved salary sacrifice method that maximises your salary while saving you thousands.

How does novated leasing work?

A novated lease is arguably the easiest and most cost-effective way of owning a vehicle in Australia.

It is a tax-effective, financial arrangement which enables you to salary package your car and save thousands each year on the running costs – no matter what your salary, or how many kilometres you drive. A novated lease in Australia can also save you thousands on the purchase price of your car, whether you want to novate a new car, a second-hand car, or your existing car.

How Employees Save With

EquiLease?

Not Salary Packaged Standard Costs

Value of Car	$24,500
Annual Salary	$115,000.00
Running Costs	$11,754.34
Total Tax Payable	$27,587.56
Net Income	$75,764.52
Pay Percentage Increase	$0.00
Savings Per Year	0.00%

Salary Packaged (With EquiLease) Save upto 30%

Value of Car	$24,500
Annual Salary	$115,000.00
Running Costs	$11,754.34
Total Tax Payable	$24,234.82
Net Income	$79,148.42
Pay Percentage Increase	3%
Savings Per Year	$3,383.90

Ready to save with

EquiLease?

What makes EquiLease different?

Flexible Car Age

Cars of any age, including older ones, can be packaged.

Fleet Discounts

Employees can save up to 25% on repair costs and access fleet discounts.

Easy Entry & Exit

Employees retain equity making it simple to enter or exit the lease.

Compatibility

Can be administered via existing salary packaging providers or through Pay@bility.

Tax Savings

All employees can benefit from significant tax savings and saving thousands on GST.

No Credit or Affordability Requirements

All employees can qualify and access EquiLease benefits.

Novated Leasing Insurance

Comprehensive Insurance

Our comprehensive insurance cover is provided through Group Insurance, which has been specifically tailored to a novated lease. No matter how careful we are with our cars, accidents do happen.

Gap Insurance

Gap insurance is there to cover the insurance shortfall in the event of a total write-off of your vehicle. Cars generally depreciate and the market value of the vehicle, in the event of a total write-off, may be lower that the finance payout for your car. In these situations, GAP insurance will provide given cover to close that shortfall.

Loan Protection Insurance

Loan protection insurance is designed to help if you’re unable to cover monthly loan payments in the event of death, sickness, accident or involuntary unemployment. If you can’t continue to make repayments on your loan, loan protection insurance will ensure there won’t be financial burden on top of any other worries.

How does salary sacrificing work?

Salary sacrifice – or salary packaging – is an Australian Tax Office (ATO) approved method of increasing your take-home pay, by lowering your taxable income.

Salary sacrificing enables you to pay for a range of living expenses with your pre-tax salary. Facilitated by Pay@bility, it is an arrangement between you and your employer.