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Get in touchBenefit from tax savings on an eligible plug-in hybrid electric vehicle (PHEV) before it’s too late, plus get $500 cashback from Flare Cars. T&C’s apply.
Save on tax, get $500 cashback
Why go plug-in-hybrid?
FBT savings on PHEVs
Browse our top picks of FBT-exempt PHEVs below and fill out the form to receive a customised quote.
Before 1 April 2025 | From 1 April 2025 | |||||
---|---|---|---|---|---|---|
Make | Model | Weekly cost | Total savings | Weekly cost | Total savings | Get quote |
BYD | Sealion 6 Dynamic | $178 | $33,100 | $250 | $14,347 | |
BYD | Shark 6 | $218 | $40,379 | $303 | $18,214 | |
Cupra | Formentor VZe | $216 | $49,044 | $300 | $27,219 | |
Mazda | CX-60 Evolve | $229 | $42,331 | $317 | $19,428 | |
Mitsubishi | Eclipse Cross ES | $188 | $41,779 | $255 | $20,162 | |
Mitsubishi | Outlander ES | $212 | $37,549 | $295 | $20,343 | |
Mazda | CX-80 Azami | $303 | $59,838 | $427 | $27,731 |
Actual savings depend on your circumstances. Estimates in the table above assume a person has a gross annual salary of $85,000, a 60-month lease term, mileage of 15,000kms p/a and purchases a vehicle in NSW with typical running cost inclusions. Information provided is of a general nature only. We have not taken your personal financial objectives, situation, or needs into account. We recommend you seek independent, professional advice before making financial decisions, including tax advice to understand the tax impacts a novated lease arrangement may have on your circumstances.
$229^ Per week
$58,118.00 Tax savings
$180^ Per week
$33,533.00 Tax savings
$193^ Per week
$49,601.00 Tax savings
$178^ Per week
$33,100.00 Tax savings
$212^ Per week
$41,780.00 Tax savings
$303^ Per week
$59,838.00 Tax savings
Got questions?
Fringe benefits are extra perks offered to employees in addition to their salary which include benefits like discounted loans, childcare fee reimbursements and novated car leases. These benefits are offered as part of their salary package to either compensate for work-related costs, or make the position more attractive or the job more rewarding.
These perks are subject to Fringe Benefits Tax (FBT), as regulated by the ATO. FBT applies even if the benefit is provided by a third party and is separate to income tax as it is calculated on the taxable value of the fringe benefit.
You can read more about FBT here.
A plug-in hybrid electric vehicle (PHEV) comes with both a traditional combustion engine and a battery. Like standard hybrid electric vehicles, the battery can be charged by the petrol engine and regenerative braking. Once the battery is depleted the vehicle will automatically switch to the internal combustion engine. Unlike standard hybrid EVs, the battery can also be charged from an electric power source.
Yes, you can still benefit from the FBT exemption but only if your lease agreement with Flare Cars commences before 1st April 2025 and meets the standard eligibility criteria.
If FBT is payable on a PHEV, it is charged at 47% of the taxable value of the benefit.
You can continue to receive the benefit of paying no FBT on an eligible PHEV if you start your lease prior to 1st April 2025 throughout the entire period of your lease duration. The maximum lease duration is 5 years with Flare Cars.
To be eligible for the FBT exemption, the plug-in hybrid electric vehicle’s value as per the first retail sale must be below the fuel-efficient vehicle’s Luxury Car Tax (LCT) threshold. For the 2024/25 financial year that is $91,387. The FBT exemption can also apply to second hand vehicles. The exemption applies to fringe benefits on an eligible vehicle that is first held and used on or after 1st July 2022.
These FBT changes in April 2025 to the bill do not affect pure electric vehicles or BEVs (Battery-electric vehicles). BEVs are powered by rechargeable battery packs and unlike a PHEV have no secondary source of power. The FBT exemption will continue to apply on these vehicle types.
You won’t be eligible for the FBT exemption from the time there is a change of employer. Any change of employer for FBT purposes, even within the same group of companies, is a new commitment to the application or availability of the car by the new employer. You can read more about when eligibility for the FBT exemption can cease on the ATO website.
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^ Novated lease payments are made from your pre-tax salary, which will reduce your take-home pay.
Actual savings depend on your circumstances. Estimates are based on a Gross Annual Salary of $85K, 60-month lease, mileage of 15,000km per annum, and a vehicle purchased in NSW with typical running cost inclusions. Information provided is of a general nature only and we have not taken your personal financial objectives, situation, or needs into account. We recommend you seek independent, professional financial advice before making any financial decisions regarding a novated lease, including tax advice to understand the tax impacts a novated lease arrangement may have on your circumstances.
Go to Flare fast to lease a PHEV for less Benefit from tax savings on an eligible plug-in hybrid electric vehicle (PHEV) before it’s too late, plus get $500 cashback from Flare Cars. T&C’s apply. See savings Enquire today Go to Flare fast to lease a PHEV for less Save on tax, get $500 cashback […]