Logo
Unionpedia
Communication
Get it on Google Play
New! Download Unionpedia on your Androidâ„¢ device!
Install
Faster access than browser!
 

Novated lease

Index Novated lease

The term novated lease is used to refer to a motor vehicle lease which has been novated, that is, the obligations in the contract have been transferred from one party to another. [1]

21 relations: Australia, Australian Taxation Office, Employee benefits, Employment, Finance lease, Fringe benefits tax (Australia), Goods and services tax (Australia), Income tax, Lease, Loan, Motor vehicle registration, Novation, Operating lease, Paycheck, Residual value, Salary packaging, Stamp duty, Take-home vehicle, United Kingdom, United States, Vehicle insurance.

Australia

Australia, officially the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania and numerous smaller islands.

New!!: Novated lease and Australia · See more »

Australian Taxation Office

The Australian Taxation Office (ATO) is an Australian government statutory agency and the principal revenue collection body for the Australian government.

New!!: Novated lease and Australian Taxation Office · See more »

Employee benefits

Employee benefits and (especially in British English) benefits in kind (also called fringe benefits, perquisites, or perks) include various types of non-wage compensation provided to employees in addition to their normal wages or salaries.

New!!: Novated lease and Employee benefits · See more »

Employment

Employment is a relationship between two parties, usually based on a contract where work is paid for, where one party, which may be a corporation, for profit, not-for-profit organization, co-operative or other entity is the employer and the other is the employee.

New!!: Novated lease and Employment · See more »

Finance lease

A finance lease (also known as a capital lease or a sales lease) is a type of lease in which a finance company is typically the legal owner of the asset for the duration of the lease, while the lessee not only has operating control over the asset, but also has a substantial share of the economic risks and returns from the change in the valuation of the underlying asset.

New!!: Novated lease and Finance lease · See more »

Fringe benefits tax (Australia)

The fringe benefits tax (FBT) is a tax applied within the Australian tax system by the Australian Taxation Office.

New!!: Novated lease and Fringe benefits tax (Australia) · See more »

Goods and services tax (Australia)

The goods and services tax (GST) in Australia is a value added tax of 10% on most goods and services sales, with some exemptions (such as for certain food, healthcare and housing items) and concessions (including qualifying long term accommodation which is taxed at an effective rate of 5.5%).

New!!: Novated lease and Goods and services tax (Australia) · See more »

Income tax

An income tax is a tax imposed on individuals or entities (taxpayers) that varies with respective income or profits (taxable income).

New!!: Novated lease and Income tax · See more »

Lease

A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset.

New!!: Novated lease and Lease · See more »

Loan

In finance, a loan is the lending of money by one or more individuals, organizations, and/or other entities to other individuals, organizations etc.

New!!: Novated lease and Loan · See more »

Motor vehicle registration

Motor vehicle registration is the registration of a motor vehicle with a government authority, either compulsory or otherwise.

New!!: Novated lease and Motor vehicle registration · See more »

Novation

Novation, in contract law and business law, is the act of.

New!!: Novated lease and Novation · See more »

Operating lease

The expression " operating lease" is somewhat confusing as it has a different meaning based on the context that is under consideration.

New!!: Novated lease and Operating lease · See more »

Paycheck

A paycheck, also spelled pay check or pay cheque, is actually not a paper document (a cheque) issued by an employer to pay an employee for services rendered.

New!!: Novated lease and Paycheck · See more »

Residual value

Residual value is one of the constituents of a leasing calculus or operation.

New!!: Novated lease and Residual value · See more »

Salary packaging

Salary packaging (also known as salary sacrifice or salary exchange) is the inclusion of employee benefits (also called fringe benefits) in an employee remuneration package in exchange for giving up part of monetary salary.

New!!: Novated lease and Salary packaging · See more »

Stamp duty

Stamp duty is a tax that is levied on documents.

New!!: Novated lease and Stamp duty · See more »

Take-home vehicle

A take-home vehicle, or company car is a vehicle which companies or organisations lease or own and which employees use for their personal and business travel.

New!!: Novated lease and Take-home vehicle · See more »

United Kingdom

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed with some organisations, including the and preferring to use Britain as shorthand for Great Britain is a sovereign country in western Europe.

New!!: Novated lease and United Kingdom · See more »

United States

The United States of America (USA), commonly known as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions.

New!!: Novated lease and United States · See more »

Vehicle insurance

Vehicle insurance (also known as car insurance, motor insurance or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles.

New!!: Novated lease and Vehicle insurance · See more »

References

[1] https://en.wikipedia.org/wiki/Novated_lease

OutgoingIncoming
Hey! We are on Facebook now! »