All Topics / Legal & Accounting / Novated Lease and IP Travel deduction

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  • Profile photo of thinkerthinker
    Member
    @thinker
    Join Date: 2005
    Post Count: 29

    As it says! Can I claim the costs associated with travelling in a novated leased car – I am suspecting not but anyway.

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856

    Is the car lease being salary sacrificed? ie are you paying for the use of the car (rego, ins, fuel, depreciation etc) as part of your package or will you have to pay these costs separately ie reimburse your employer? Will the 'extra' travel to the IP cause you to over run your km allowance on the car hence getting a lower resale?

    Profile photo of thinkerthinker
    Member
    @thinker
    Join Date: 2005
    Post Count: 29

    all costs are salary sacrificed. additional costs over and above are probably hard to argue as it is marginal (maybe 3k / year). I guess the benefits are factored into the additional km that reduce salary sacrifice fbt. 

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