Real world case study of Tesla Model 3 purchase in Australia using novated lease with fringe benefit exemption applied on vehicle and associated running costs. Walkthrough of lease repayments and savings compared to outright purchase by Tesla Tom of Ludicrous Feed in Sydney Australia September 2023
Electric Vehicle Novated Lease Model 3 Australia Case Study FBT exempt
** This video has been designed for information and entertainment purposes only and does not constitute professional financial advice. Always obtain independent guidance before purchasing a financial product **
Spreadsheet seen in this video (courtesy of viewer Chris Q):
https://docs.google.com/spreadsheets/d/114l9XsQtgU7QCY1twfoVfxe4Yh8FHQmDbYuMQo-K6mo/
To modify with your own figures, make a copy of this file into your own Google Drive | File – Make a Copy
Australian Tax Office | Fringe Benefits Tax – Electric cars exemption
https://www.ato.gov.au/Business/Fringe-benefits-tax/Types-of-fringe-benefits/fbt-on-cars,-other-vehicles,-parking-and-tolls/electric-cars-exemption/
Looking for a Novated Leasing Company?
Email me: tom@ludicrousfeed.com for a recommendation including a referral bonus! (Australia wide)
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00:00 Introduction
00:15 ATO Electric cars FBT exemption
00:28 Eligibility
01:07 Zero or low emissions vehicle definition
01:30 Plug-in hybrids
01:59 “held and used”
02:15 Under the LCT threshold
02:25 Associated car expenses
02:38 Case study walkthrough
03:18 Driveaway costs
05:32 Lease payments walkthrough
09:43 Saving compared to cash purchase
12:47 Downsides of novated leasing
14:39 Summary
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Ludicrous Feed demonstrates the benefits of Tesla and electric vehicle ownership coupled with renewable energy household products from an Australian perspective. Our family owns a Model S and Model Y while our Tesla PowerWall 2 battery and solar panels help to reduce our reliance on grid electricity. This YouTube channel aims to encourage others to look at an electric vehicle for their next purchase as well as investing in renewable energy technology such as solar panels and battery storage for their home.
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