Special Report on
Novated Lease and Salary Packaging
Novated Lease and Salary Packaging - Trends
Latest Trending Story:
It is no secret that job seekers today are spoiled for choice. With record-low unemployment, competition for quality candidates is fierce. For many employers and HR managers, offering a novated lease vehicle as part of a salary package is an effective weapon in the battle attract and retain talent. Not surprisingly, demand for novated lease products has skyrocketed. According to the Australian Fleet Lessors Association, novated leasing has doubled in the past four years. This in turn has helped change the face of company fleets, with so-called ‘user-chooser’ novated lessors demanding (and receiving) a much wider ...
A Novated Lease is a bond that subsists linking the employee, their employer and the finance provider.Novated lease is an element of the salary packaging option. In this your employer offers you to have the advantage to select a vehicle that will best go with your likings and standard of living. Once the vehicle has been procured, the employee, the employer and the finance provider all sign the Novation contract. The employer will presume all responsibilities related to the repayments of the automobile which will be subtracted from the employee's pay. The employee consents to ... Read More