Drive your dream Tesla car with a novated lease
Looking for a sleek looking and economical Tesla car at the cost of a Corolla? Novated leasing helps achieving your dream with significant savings.
Now is the best time to buy a Tesla
With its positive impact on sustainable energy, sleek design and autonomy, Tesla has now become a household brand to many of our employees and customers. If you were dreaming of owning a Tesla, novated leasing can be a way to afford a high-end electric vehicle that might otherwise be out of your budget.
With the recently introduced Electric Car Discount bill, eligible Tesla models are exempt from the 47% Fringe Benefits Tax (FBT). That means your next Tesla Y or a Teslamodel 3 could be income tax and GST free only through a novated lease. It also allows you to drive a desirable car without the need for a large upfront payment.
Fast moving Tesla deals near you!
EV
Calculate how much you can save from a Tesla
How novated lease works
Frequently asked questions
What is the legislation and how could I save?
In a move that supports both the environment and the budget of Australians, the federal government has recently introduced legislation that makes electric vehicles (EVs) priced under $89,332 exempt from fringe benefits tax (FBT).
Before this bill was passed, you would have expected to pay 20% of the FBT base value of the vehicle as a post tax deduction from your salary. Now, with this change, the total amount is calculated and deducted before-tax so you, as the employee, is not paying any FBT or income tax on your new eligible EV or PHEV.
How long does it take to charge an EV?
Where can I charge my EV?
Charge at home, work or public locations across Australia. See this charging map for locations.
What is covered by an EV through a novated lease?
Electricity mileage, maintenance costs, tyre replacements, rego, CTP (NSW), comprehensive insurance and car washing
What is the range on an EV?
There are electric vehicles available in Australia that can travel over 500km on one charge. If you live in a city, the average daily commute is 35km meaning you’ll be able to get around without needing to recharge. See this range and charging tool for the average range for each EV currently available in the market.
How do I get an EV novated lease?
Speak to Flare today and we can step you through the novated lease process, help you to identify and source the car you want, and purchase it, end-to-end. The process is simple and you’ll be supported along the way by a Flare Car Concierge.
Which vehicles are exempt from paying the FBT?
The vehicle must be at first sale less than the luxury car tax threshold for fuel efficient vehicles which is $89,332 as of the 1st of December 2022. While vehicles are exempt from paying FBT, there will be reportable fringe benefits for employees.
Terms and conditions
*Displayed price only available through a Flare Cars Novated Lease. Weekly costs are estimates only based on the following assumptions: 1) Gross Annual Salary of 85,000, 2) 60-month lease term, 3)a residual value of 28.13% of the vehicle purchase price payable at the end of term, 4) Weekly salary payments, 5) lease quotes include like for like running costs for Fuel, Maintenance, Tyres, Registration & CTP and an estimated cost for comprehensive insurance at 2.5% of the vehicle, 6) Vehicle purchased in NSW, 7) 15,000km per annum, 7 ) prices quoted are based on real Flare Car customer orders placed through Macquarie Vehicle Select in the previous 90 days. 8 ) Salary Sacrifice using Employee Contribution Method (ECM). 9) The novated lease offer is based on the assumption outlined above. It is an indicative cost approximation of the selected vehicle and model shown, and the amounts may change at the time the novated lease quotation is completed and finalised. Vehicle discounts & availability is subject to manufacturer production delivery timelines and current stock levels. 10 ) Total Flare Discount Figure is a combination of vehicle discount and GST savings on the purchase price.^The savings shown are indicative and reflect a total of income tax savings, GST savings on vehicle running costs and GST savings on the purchase price of the vehicle over the full lease term. We assume your employer is able to claim 100% GST Input Tax Credits, due to their Input Tax status. The total amount saved compares 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.The maximum age of the vehicle is 15 years old from the build date at the end of the lease. A motor vehicle qualifies (except a motorcycle or similar vehicle) is designed to carry a load less than one tonne (<1,000Kgs) and fewer than nine passengers for FBT purposes. Promotional period is valid until 31/3/2024.
Congratulations, you’ve got your dream Tesla! For expenses you can easily submit a claim for reimbursement via driver portal.