The benefits of car leasing for businesses cannot be understated. The repayments are 100% tax-deductible for the entire lease term, and the end term is flexible depending on your business’ needs. In addition, car lease deals are fully-maintained, taking the administration out of fleet management. The best part? VehicleSolutions car leasing Adelaide can help you save money on administration costs and taxation. Learn more about car leases for businesses below!
Novated Lease
If you’re looking for an easy way to obtain a car lease, consider using the Novated Lease option. Novated leasing involves a three-way contract between an employer, employee and financier. Employees can obtain a vehicle using this option while still making their regular salary. ATO-approved and easy to understand, this option has been approved by the government and is the ideal way for employees to drive their cars.
The benefits of a novated lease are substantial, allowing employees to enjoy the benefits of car ownership without incurring the expenses of purchasing or operating it. The Novated Lease option helps employees save on their monthly car payments by allowing them to take advantage of National Fleet pricing on most new vehicles. In addition to this, a novated lease program includes a free fuel card from Shell, BP or Caltex. As an employee, you’ll benefit from substantial savings, regardless of salary. Furthermore, you’ll pay less to an employer and pay minimal administration.
Tax advantages
There are many advantages to choosing a car leasing company for your business. Unlike buying a new car, vehicle leases provide tax advantages that allow you to use the vehicle for business purposes. Tax advantages include reduced monthly payments, lower interest rates, and lower overall costs. VehicleSolutions car leasing Adelaide has been around for over 30 years, so they know how to tailor their business car lease deals to fit the needs of businesses.
Another tax advantage of leasing a business vehicle is the ability to claim the VAT you pay on the lease. This tax can be claimed back 100% of the monthly rent paid. This tax advantage is available only for businesses that are VAT registered. The employer can claim 100% of the VAT if a vehicle is used solely for business. However, if you use it for personal reasons, you can claim 50% of the VAT.
GST advantages
If you’re looking to lease a new or used vehicle, you might consider the GST advantages of VehicleSolutions car leasing Adelaide. Car leases offer businesses the best tax advantages, including 100% tax deductibility for the entire lease term, flexible end-term options, and relatively low-interest rates. Moreover, fully maintained car lease deals take all the hassles out of running a fleet. And, what’s more, leasing a car allows you to save on administration costs as well!
If you’re employed, you may be surprised that you can claim back up to 10% of the GST paid by your employer. However, the benefits of car leasing in Adelaide with GST don’t stop there. Employees often don’t realise they can shop around and take advantage of lower rates by paying more upfront up front than they otherwise would. And even if they don’t, the leasing company will still cover the cost of maintenance and repairs – which is good news for employers.
Access to finance
Car leasing Adelaide can help you access finance for a new car and keep it for as long as you need it. This option is best suited for businesses that require a long-term solution to their vehicle needs. It will provide you with a vehicle at a fixed monthly rate, as well as benefits like free servicing and maintenance and the ability to trade up or buy a new car every few years.
No-lease leasing is an excellent option for employees who make a salary and pay tax. But before you sign up for a lease, ensure you understand the process. It will save you valuable time and money. In addition, you’ll want to ensure the vehicle is in good condition. Don’t let the lease company give you a car with mechanical problems or damage. And, of course, you’ll want to ensure the car is free of accidents and other mechanical problems.