What is a novated lease and how does it work?

A Boost Salary novated lease is a significant saving for employees and a great solution for employers. The novated lease facility allows employees to purchase a vehicle and salary package all the running costs at significant discounts. The employer simply makes one monthly payment to Boost Salary on behalf of the employee and Boost Salary manages the administration of the facility. The employee leases the vehicle from the financier and we wrap all the operating costs into the salary package deduction for the employer to deduct from the employee. This can provide savings through pre-tax deductions and GST savings through the employer deductions.

We ensure the process is simple and managed effectively for the employer our facility ensures that discounts are maximised and all documentation is prepared for the employee and employer showing budgets and monthly deductions. Our documents are prepared simply and provide flexibility for the employee and employer into the future.