A novated lease is generally a three-way arrangement between you, your employer and a lease provider. Your employer makes agreed deductions from your salary and pays the lease and packaged running costs.

An FBT exemption can apply to an eligible battery electric vehicle when the statutory conditions are met, including vehicle, use and luxury-car-tax criteria. Check current eligibility for your vehicle and circumstances before relying on the exemption.

No. The result depends on salary, tax position, vehicle price, lease rate, fees, residual value, running costs and how long you keep the car. Compare the full cost and terms, not only the advertised pay-cycle saving.

The existing novation usually ends when employment ends. You may be able to transfer or restructure the arrangement with a new employer, or temporarily take responsibility for the lease payments. Check your agreement and provider before changing jobs.

This depends on the provider, purchase timing and package rules. Adding accessories can affect the financed amount, vehicle value and tax treatment, so obtain written confirmation before ordering.

Your options depend on the contract and may include paying or refinancing the residual, trading or selling the vehicle, or entering a new arrangement. Review the residual and end-of-term costs before signing.

A reportable fringe benefits amount may affect some income tests, government obligations or benefits even when the benefit is not taxed as ordinary income. Ask a qualified adviser how this applies to your circumstances.