Using Novated Leasing to deliver a Christmas Bonus

Novated lease tax benefits

Can you believe it’s almost Christmas!? This time of the year is often an expensive one – with parties, presents and holidays all adding up. It’s also a time where lot of people would love to have a new car – AND reduce the tax they pay… this could mean a saving of around $2000 per annum.

Humour me for a moment; Take a deep breath and think about this…

When was the last time you, or your staff, received any sort of pay rise without having to ask for it?

Employee benefits are a great way to keep staff satisfied and attract and maintain great talent. But how do you deliver a “bonus” – a small salary increase – to all deserving staff at a time when budget is stretched?

Money Talks

You may be thinking “there are plenty of ‘workplace benefits’ available to our employees” … but I ask, at what cost?

I’ve seen companies with genuine good intentions provide all manner of things for their employees – because we all look for ways to show them that we care. You want to improve your staff retention, longevity, productivity – they all impact your bottom line and make your workplace unique and attractive.

When it comes down to it though, money seems to speak the loudest – particularly at this costly time of the year.

So, what do you do?

What if I told you there was a way you could increase your salary, or the salaries of any of your employees, by around $2,000 per year without having to change what you do or how hard you work for it.  Would you take it?

Novated Leases: Get something for nothing

Did you know the average amount saved by a driver who has a Novated Lease is approximately $2,000 – $2,500 per year, and financing through a Novated Lease is seen as the most cost-effective way to buy, drive and maintain a car.

You may already have a Novated Lease program in place with another provider, where statistics show that their average participation rates sit at approximately 5-10% across an entire organisation. INSIDE EDGE can work with you to improve on this, meaning you have an opportunity to provide a happier Christmas by engaging the 90-95% of staff that are missing out on the benefits and the financial rewards available to them.

Think about this, how many more of your staff could benefit from a cost saving Novated Lease program? And could it motivate them to be a little more engaged?

 You are someone who can make – or influence the decisions made – within your business and for your employees. But I want you to think about this as though we are speaking about YOUR car, YOUR family, YOUR income. Do you have a car or two in the household? How could you – and your family – benefit from a salary boost right now?

With Novated Leases there is no risk and zero-dollar cost to the business, just the potential for:

  • Convenient, cashless motoring
  • Income tax and GST savings
  • Improved employee retainment and talent acquisition

I am constantly amazed at how many professionals in charge of employee benefit programs haven’t yet had the true benefits explained to them, or who don’t currently benefit from their own program.

So with no risk or dollar cost to the business, and the several social and financial benefits for employees and company alike, boosting the participant rates of your program is a great way to increase salaries and show that you value your employees.

Show me how

If you don’t fully understand the savings and tax benefits your Novated Lease program offers you, or you aren’t sure how to boost engagement and participation within your program, it’s worth your while to speak with the INSIDE EDGE team who make it easy to understand and will ensure you’re receiving the maximum benefit.

INSIDE EDGE has extensive experience in transitioning company fleets to superior Novated lease programs. Our approach is simple and is based on proving our value by demonstrating cost savings and offering transparent strategic advice.

Contact our team on 1300 55 1987 or send me an email at tasman.bateman@iedge.com.au to speak with me today.

Alternatively, discover how one large Australian retailer used Novated Leasing to free itself of 160 company cars with no extra financial burden or strain to employee relationship.

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