![]() ![]() Vehicle running cost calculations are assumed same costs for novated lease and consumer comparisons.Residual Value: The Salvage Value of Your Owned or Leased Assets.Interest Rate used assumes an average rate (all terms) as published by Reserve Bank of Australia. The opportunity cost is the calculation of an investment return if you had invested funds in a Bank Term Deposit. The opportunity cost is an assumption that by using cash to purchase outright you have missed the opportunity to invest elsewhere.Purchase of the vehicle assumes that you are using cash to purchase the vehicle outright.It is assumed that purchasing and running a vehicle is for personal use and you are not eligible to receive GST Input Tax Credits (ITC).Calculations assume you have no business use and that you are a full PAYG income tax paying individual.Payments are calculated assuming information selected or input by you with an interest rate applicable to the current month, and a determined balloon final payment (both equivalent to the Novated Lease). Finance calculations assume a consumer loan financing the full purchase price of the vehicle.Any calculations should be referred to Toyota Fleet Management to confirm savings available. Employees of employers with Rebateable or PBI Status are subject to certain criteria.Business use percentage is subject to a log book kept for 12 weeks validated and approved by your employer. Where you have selected a business use percentage, the calculation returned assumes the best outcome between statutory & operating cost method.Calculations are based on FBT Car - Statutory Method.However, your employer is not obliged to pass ITCs onto you and if they choose not to, this may affect the calculation. It is assumed that your employer is eligible to receive Input Tax Credits (ITC), and that this benefit will be passed onto you, as the employee.Inclusions are full maintenance and servicing, tyres, registration & CTP renewal, fuel, comprehensive motor vehicle Insurance. Vehicle running costs are calculated on the term and kilometres input.The default Interest Rate shows the applicable current Interest Rate, any change to the Interest Rate is for estimation purposes only. Lease calculations include finance lease term selected & residual value as determined.If you proceed with arranging finance through Toyota Fleet Management, final arrangements are subject to a range of criteria that are best explained by a Novated Leasing Consultant.Įxact quotations can be obtained directly by calling 1300 888 875. Finance is available to approved applicants of Toyota Fleet Management a division of Toyota Finance Australia Limited ABN 48 002 435 181, AFSL and Australian Credit Licence 392536. Before making a decision about any of the products and services featured on this website, you should consult with your own independent legal, taxation and financial advisors, who can advise you about your personal circumstances. ![]() Nothing on this website constitutes or should be considered to constitute legal, taxation or financial advice. It is of a general nature which is based on the accuracy of information you have provided and does not take into account your personal needs and financial circumstances. The information provided by the finance calculator is indicative only and is not a formal or binding quote. ![]() #Electricity usage costs for electric vehicles are a car expense but have not been included in the calculation, pending ATO public guidance in relation to cost determination issues. TFM recommends that you seek independent advice from a qualified Legal Advisor, Financial Advisor or Registered Tax Practitioner. # Employer exemption for Fringe Benefits Tax (FBT) has been applied to the calculation for eligible fully electric and plug-in hybrid electric vehicles that meet the criteria, including being first registered when new on or after 1 July 2022, as prescribed under the Treasury Laws Amendment (Electric Car Discount) Act 2022. Please refer to the Australian Tax Office (ATO) website for further information on RFBAs and the consequences of RFBAs for an employee. The extent to which a RFBA may adversely impact an employee will depend on an employee’s facts and circumstances and employees should obtain their own independent advice on RFBA matters. However, there may be a RFBA arising from your Novated Lease. * This calculator does not report any employee Reportable Fringe Benefit Amount (RFBA) arising from a Novated Lease. Savings and Costs are approximate based on the parameters selected above. ^Servicing, Maintenance, Tyres and Insurance can be purchased from an alternate supplier, not only Toyota Fleet Management (TFM). ![]()
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