Portfolio Tag: cumque

Novated Lease

As part of a salary package arrangement, this is a three-way agreement between the employee, the employer and the lender. The employer agrees to make the repayments per the contract while that person remains in their employment. If you leave the company, the vehicle/equipment goes with you.
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The vehicle/equipment is rented or leased for a monthly payment over a period of 2 to 5 years with a residual or lump sum payment at the end of the lease in line with Australian Taxation Office guidelines.
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