Thursday, July 17, 2008

"Vehicle Salary Packaging - How Can it Save You Money?" - Part 3

Saving Tax
The third way to save money when you salary package a vehicle via a Novated Lease is through the effect it has on:
- reducing the income tax you pay: and
- the subsequent increase in your take home salary.

By Packaging the operational costs as well, the savings can be quite considerable.
In the above example (Quote dated 17/07/08) savings could be as much as $4,775.34 each year - totalling approximately $19,000.00 over four years!

*Table provided by Supanova shows an example of possible annual savings for this particular scenario.

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