Notated leases good?

[PommiePattons]

Hi all,

 

Well it should read Novated but anyway I am trying to work out which is a better option out of the notated lease (salary sacrifice) or buying the traditional way from a dealership?

welcome any advice

 

anthony

Edited February 6, 2014 by PommiePattons

[Guest Claire-n-tel]

Oh bugger!......7 years in and the whole salary sacrifice still confusses me! move past the very basic what is it question and i am lost!

 

Your work should have a salary sacrifice advisor that you can meet with who will be able to advise you further.

 

Are you still in uk? If so or you haven't commenced work yet note that you will most likely be on a trial period when you start, usually 3 months, even if you werent clearly told this, check your contract, even government jobs seem to have it here. Anyway i think in lots of places (not sure if all) you can't use sallary sacrifice until trial up.

 

Now like i say, i am not sure on this whole thing so hopefully someone else will know more.

 

Oh another thing to note is that you will not be able to get finance for anything, car loan, new tv, mortgage etc until your trial period ends

[soo_the_panda]

No idea on the car but correct - any company offering salary sacrifice will have an advisor you can talk to to work out the best situation for you to maximise your tax free income.

 

I've worked in two not for profit roles (both permanent ongoing) in Adelaide and been eligible for salary sacrificing - in both cases that's been running from day one, regardless of passing a probation. This included when I first arrived and was working on a working holiday visa with a view to them sponsoring me for permanent residency - none of that affected salary sacrifice.

[Guest Claire-n-tel]

I've worked in two not for profit roles (both permanent ongoing) in Adelaide and been eligible for salary sacrificing - in both cases that's been running from day one, regardless of passing a probation.

 

See i knew someone would know for sure!....thanks Soo:wink: