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jalalski
Date Registered: 02-2004
Location: SUTHERLAND, SYDNEY
TOTAL POSTS: 29100
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Re: Buying an X-trail through Novated Lease
Reply posted by NPC73 (copied from another thread)
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Tin,
Thanks for the example, it's starting to make sence.
Cheers
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Noel & Silvia
03 Xtrail, TI, Manual, Twilight (Series I)
04 Elantra, GL, Manual, Exciting Blue
WEB: www.geocalc.net
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7/Mar/2005, 8:33 am
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jalalski
Date Registered: 02-2004
Location: SUTHERLAND, SYDNEY
TOTAL POSTS: 29100
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Re: Buying an X-trail through Novated Lease
Here is the company that I initially considred doing a NL with. The information they provide on-line is great and it includes claculators, examples (similar to the one Tin posted above) and much more.
http://www.smb.com.au
A good starting point for someone considering buying an exy using this option.
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7/Mar/2005, 8:33 am
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jalalski
Date Registered: 02-2004
Location: SUTHERLAND, SYDNEY
TOTAL POSTS: 29100
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Re: Buying an X-trail through Novated Lease
Reply posted by NPC73 (copied from another thread)
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That's funny. SMB is the company we were offered.
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Noel & Silvia
03 Xtrail, TI, Manual, Twilight (Series I)
04 Elantra, GL, Manual, Exciting Blue
WEB: www.geocalc.net
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7/Mar/2005, 8:35 am
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jalalski
Date Registered: 02-2004
Location: SUTHERLAND, SYDNEY
TOTAL POSTS: 29100
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Re: Buying an X-trail through Novated Lease
Reply posted by dajmil (copied from another thread)
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SMB was one of the lease companies who we had a choice to use.
There is something missing from your calculations. The fbt component which the govt requires us to pay for the privelage of having a NL. Remember it is post tax and based on pkf NL calculator that would amount to $4000/yr or $76/week.
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Cheers,
David
'05 Xtrail Blue, Manual
96 Ford Festiva, Teal
(Korean Body Bag).
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7/Mar/2005, 8:36 am
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jalalski
Date Registered: 02-2004
Location: SUTHERLAND, SYDNEY
TOTAL POSTS: 29100
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Re: Buying an X-trail through Novated Lease
Reply posted by Tino66 (copied from the another thread)
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The FBT component formula relates on both the cost of the car and the amount of km travel in a year.
In the example, the FBT is included in the $20,000 a year Mary was paying (pre tax). For a $30,000 car and travel b/t 15,000 and 24,900 km, the FBT is approx %22 which works out to be about $6,6000. If she travelled more than 25,000 km, the FBT is %11 which is $3,3000. Most people rightly concerned about the FBT component they have to pay on a NL but this is one way the goverment get your money for the benefit of buying something in pretax dollars. If you are on a high tax bracket, half of your pay above the marginal rate would be tax already.
There is also another option to pay FBT using a Contribution method for those who is not on the high tax bracket.
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7/Mar/2005, 8:37 am
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jalalski
Date Registered: 02-2004
Location: SUTHERLAND, SYDNEY
TOTAL POSTS: 29100
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Re: Buying an X-trail through Novated Lease
Reply posted by petersxtrail (copied from another thread)
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I did the lease thing for 2 and a half years. If it was better I am not sure. But maybe some things I learnt.
We put in for the 15-25k klm bracket, that way if we did more the tax changed, rather then try say we were going to 25K and then have to fork out extra if we didnt make it.
We calculated everthing (services, fuel) on 18 ooo. So if in the 15-25k bracket we werent paying too much, offesetting the tax,
First year really think about the budget plans, for example dont add in a set of all new tyres, and use the dealers service guide for costs
Used a motorcharge card - heaps more flexible, accepted most places - but you cant use your discount fuel vouchers (woolies) have to pay full pump price).
I didnt keep using the card after the lease (as handyas it was) because I had to pay GST on each transactin (using the card is a service) - but during the lease you get it back - out of lease you dont.
Overall it was complicated set up, you have to pay the full price for the car (so the trade goes in pocket), but made life very simple.
Very much up to an individual if its worthwhile, same as the 25k tax level. (for example some will try to squeeze in the milage at end of FBT year to make 25K, but that also affects how much fuel and servive costs you use.
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7/Mar/2005, 8:39 am
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jalalski
Date Registered: 02-2004
Location: SUTHERLAND, SYDNEY
TOTAL POSTS: 29100
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Re: Buying an X-trail through Novated Lease
No worries mate. This info. may help other xtrail seekers
Pretty good and low Km's for a '97 Excel. How is it from the outside though?
quote: Lone Ranger wrote:
hey thanks jalalski
not sure this would be any good for us, my partner has an excel made in 1997 todate it only has 88,000km on the clock.....
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8/Mar/2005, 9:11 am
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