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CalculatorsNovated Lease

Novated Lease Calculator

Compare an electric and a petrol car on a novated lease side by side — your real cost per pay, the EV FBT-exemption saving, and the reportable-benefit impact most calculators hide.

Your details

$

Total on-road price of the car

$
ElectricFBT-exempt

$423

net cost / fortnight

$71,952 over 5 yrs

Petrol

$594

net cost / fortnight

$94,213 over 5 yrs

The EV saves you $22,261 over 5 years ($171/fortnight) vs the petrol car.

Most of the gap is the EV's FBT exemption — it runs 100% pre-tax with no employee contribution — plus cheaper energy.

Net cost over 5 years

Novated figures include finance, running costs, tax effects and the residual. "Buy with cash" and "car loan" are an after-tax comparison for the same car.

The honest bit: reportable fringe benefits

Even though the EV is FBT-exempt, the grossed-up value is still reported on your income statement ($21,057/yr). That can quietly increase some income-tested costs:

$0

Extra HECS / yr

$1,014

Extra MLS / yr

$0

Extra Div 293 / yr

We've already subtracted these ($1,014/yr) from your EV savings above — most calculators don't.

Full breakdown

Electric

FBT treatmentExempt (EV)
Lease payment / fortnight$434
Amount financed$55,377
GST saved on car$5,073
Running costs / yr$3,401
Income tax saved / yr$4,695
Residual (inc GST)$16,996
Net cost over term$71,952

Petrol

FBT treatmentECM applied
Lease payment / fortnight$434
Amount financed$55,377
GST saved on car$5,073
Running costs / yr$5,173
Post-tax ECM / yr$11,160
Income tax saved / yr$2,016
Residual (inc GST)$16,996
Net cost over term$94,213
Estimates only, using FY2025-26 tax rates and the ATO statutory-formula method — not financial advice. The EV FBT exemption for battery EVs is under government review for arrangements from April 2027; we apply current law for the whole term and flag this rather than assuming future changes. Your actual quote depends on the financier, fees and interest rate.

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