Statutory Fraction Calculator Disclaimer

Calculations provided are an estimate only and do not constitute a quote or offer of finance. sgfleet recommends that you seek your own independent legal, financial and tax advice when making any decisions in respect of a Novated Lease. sgfleet makes no representations, warranties (express or implied) whatsoever about the functionality or accuracy of this calculator and accepts no liability arising out of your use of or access to this calculator including (without limitation) any errors or omissions.

The salary packaging amounts and take home pay calculations set out above are estimates only based on particular assumptions by sgfleet (further details are available upon request) and the minimal information you provide. Calculations do not take into account any luxury car levy that may be payable in cases where the amount financed exceeds the car limit as set by the Australian Taxation Office. Calculations will vary where the luxury car levy applies.

Note that the calculations include a provision for fringe benefits tax (FBT) which has been calculated by using  the statutory formula method (based on a single flat rate of 20 per cent).  

sgfleet does not purport to offer legal, financial or taxation advice. Employers and employees should seek independent advice as to the implications of a novated lease transaction.

 


Operating Cost Calculator Disclaimer

Calculations provided are an estimate only and do not constitute a quote or offer of finance. sgfleet recommends that you seek your own independent legal, financial and tax advice when making any decisions in respect of a Novated Lease. sgfleet makes no representations, warranties (express or implied) whatsoever about the functionality or accuracy of this calculator and accepts no liability arising out of your use of or access to this calculator including (without limitation) any errors or omissions.

The salary packaging amounts and take home pay calculations set out above are estimates only based on particular assumptions by sgfleet (further details are available upon request) and the minimal information you provide. Calculations do not take into account any luxury car levy that may be payable in cases where the amount financed exceeds the car limit as set by the Australian Taxation Office. Calculations will vary where the luxury car levy applies.

Note that the calculations include a provision for fringe benefits tax (FBT) which has been calculated by using the operating cost method (based on an estimate of vehicle running costs and estimated percentage of private use). Employees should ascertain from the employer how it intends on calculating the amount of any FBT which it will pay in relation to the benefit provided in connection with the proposed novated lease transaction including the allowable estimated percentage of business use of the vehicle.

Further, any change in the assumptions used in estimating FBT liability, for example, where there is a variation in the pattern of business use of the vehicle, may require an adjustment to the pre and post-tax contributions, and will impact the salary packaging amounts and take home pay calculations above.

sgfleet does not purport to offer legal, financial or taxation advice. Employers and employees should seek independent advice as to the implications of a novated lease transaction.