Could your fuel bill be $1,145 better off? With an Oly novated lease it just might!

Oly can't change the petrol price signs at your local servo, but it does know a way fuel could cost you less: novated leasing. By including fuel in your novated lease budget, some of the cost comes from your hard-earned before you get taxed. You could save GST at the bowser, too.

And here's the good bit: an average Aussie could save an estimated $1,145 in tax a year just by including fuel in a five-year novated lease.*

So, how does it work?

Pretty simply, actually. You estimate your annual fuel use and bundle this into your novated lease budget alongside your car payments and other running costs.

But instead of paying for every fill-up entirely from your take-home pay, you can use a mix of before-tax and after-tax salary. That could mean:

✔ Tax savings

✔ GST savings

✔ A smoother car budget across the year

While you still pay for the fuel you use, paying for it through your novated lease could help you make the most of available tax benefits and possibly keep more money in your pocket.

How much could you save on fuel?

Let’s keep things simple. Say you earn $90,000, spend $3,000 a year on fuel and take out a five-year novated lease. This could save you an estimated $1,145 in tax on fuel. *

^{*$1,145 estimated annual tax saving is illustrative only and based on a salary of $90,000, a 5-year novated lease and $3,000 annual fuel spend. Actual savings will vary based on individual circumstances. This information is general in nature and does not constitute financial or tax advice.}

Fuel savings are just the start

A novated lease lets you bundle your car payments and most of your running costs into one regular payment. Depending on the arrangement, that could include:

✔ Car repayments

✔ Registration

✔ Comprehensive car insurance

✔ Servicing and maintenance

✔ Tyres

✔ Roadside assistance

✔ Charging costs for eligible electric cars

That means fewer bill shocks. Rego due? Servicing time? Already budgeted for. Handy.

Simple for employees. Simple for employers.

Oly is all about making novated leasing simple and easy to understand. Employees could get more value from their salary while Oly handles the admin behind the scenes.

For employers, it's refreshingly simple too. Setup is straight-forward, ongoing admin is minimal, and there's no cost to partner with Oly. Just a great employee benefit without the extra payroll cost.

Is a novated lease worth a look?

Do you like cars, exploring savings and keeping things simple? Then novated leasing is definitely worth exploring.

A novated lease could an help you save tax and GST, smooth out eligible running costs and spend less time wrestling with admin. Oly handles the admin and paperwork so you can focus on the useful bit: finding a car you love and getting on the road.

Keen to run the numbers?

Use Oly’s novated lease calculator, check out the latest car offers or have a chat with Oly.

• Explore Oly car offers
• Estimate your savings
• Chat with Oly

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