Real world case study of Tesla Model 3 purchase in Australia using novated lease with fringe benefit exemption applied on vehicle and associated running costs. Walkthrough of lease repayments and savings compared to outright purchase by Tesla Tom of Ludicrous Feed in Sydney Australia September 2023
Electric Vehicle Novated Lease Model 3 Australia Case Study FBT exempt
** This video has been designed for information and entertainment purposes only and does not constitute professional financial advice. Always obtain independent guidance before purchasing a financial product **
Spreadsheet seen in this video (courtesy of viewer Chris Q):
To modify with your own figures, make a copy of this file into your own Google Drive | File – Make a Copy
Australian Tax Office | Fringe Benefits Tax – Electric cars exemption
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00:00 Introduction
00:15 ATO Electric cars FBT exemption
00:28 Eligibility
01:07 Zero or low emissions vehicle definition
01:30 Plug-in hybrids
01:59 “held and used”
02:15 Under the LCT threshold
02:25 Associated car expenses
02:38 Case study walkthrough
03:18 Driveaway costs
05:32 Lease payments walkthrough
09:43 Saving compared to cash purchase
12:47 Downsides of novated leasing
14:39 Summary
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ABOUT LUDICROUS FEED
Ludicrous Feed is a Sydney-based YouTube channel that started in 2018 after Tom purchased his Tesla Model S. He wanted to show the reality of Australian daily life with his family and an electric vehicle. Tom provides straightforward candid insights into key issues around EV adoption such as vehicle range, charging infrastructure and road trip planning. The weekly live stream is an opportunity for industry guests to directly engage with audience members from the EV community. Tom also has a Tesla Powerwall 2 coupled with rooftop solar and has reviewed many other electric vehicles for the channel including brands such as Tesla, BYD, Polestar, Volvo, MG, Hyundai, Genesis, Kia and Cupra.
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