What types of novated lease arrangements are there?
A novated lease is one which is common in Australia that allows a business to lease a vehicle on behalf of the employee in which the responsibility of the lease lies with the employee and the payments are taken out of the pre-tax income of the employee. A novated lease is usually a three way agreement in Australia which involves the employee, the employer, and the lease company. Different types of novated lease are as follows: 1.Novated finance lease 2. Fully maintained novated lease 3. Non Maintained Novated Leases 4.
