FREE CALCULATOR · NO SIGN-UP REQUIRED
EV novated lease calculator
Choose your EV, then adjust your salary and lease details to see your estimate.
What would you drive?
Browse more EVs8
Understand your estimate
See what salary sacrificing an electric car saves you in tax. Pick the EV, enter your salary, and the calculator compares a novated lease under the FBT exemption with paying for the same car from your after-tax pay.
- Compare EVs with indicative pricing
- FBT exemption and the 2027 phase-down built in
- No sign-up required
Vehicle shown is illustrative.
How the calculator works
The listing pages across the site use a 5-year lease and a 7.5% rate as their standard assumptions. Here, every one of those is yours to change.
What it compares
The same car two ways: salary packaged through a novated lease, and financed with a standard car loan paid from your after-tax salary. The saving is the difference in what you keep over the lease term.
Where the saving comes from
Lease payments and running costs come out of your pay before income tax. Because eligible EVs are exempt from Fringe Benefits Tax, none of that pre-tax benefit is clawed back, which is what makes the gap so large.
What you can change
Your salary, the car and its drive-away price, the lease term, and your running costs. Every figure updates as you go, and you can switch cars without starting again.
Calculator FAQ
Is this a salary sacrifice calculator for electric cars?
Yes. A novated lease is how salary sacrifice works for a car, so the sums are the same. Enter your salary and the EV you have in mind, and the calculator shows how much pre-tax salary the lease takes, what that saves in income tax, and what the car costs you each year compared with a standard loan.
Does the calculator include the EV FBT exemption?
It does, and it applies the exemption automatically. Battery electric vehicles priced under the fuel-efficient luxury car tax threshold are exempt from Fringe Benefits Tax, so the full lease and running costs can come from pre-tax salary. A car that misses the threshold is calculated with FBT applied, so the comparison stays honest.
Can I use it for a plug-in hybrid or a hybrid?
You can run the numbers, but plug-in hybrids lost the FBT exemption on 1 April 2025 and conventional hybrids never had it. The calculator applies FBT to those cars, which is why the saving shown is much smaller than for a battery EV at the same price.
Does it account for the 2027 changes to the exemption?
Yes, as announced. Under the announcement, from 1 April 2027 the full exemption only applies to EVs priced at $75,000 or under, with dearer EVs getting a 25% discount on the FBT payable instead, and from 1 April 2029 every eligible EV moves to that 25% discount. Choose when you plan to sign the lease and the calculator uses the announced rules for that date. The 2027 and 2029 changes have passed the House of Representatives but not the Senate, so they are not law yet. We assume the 25% discount reduces the taxable value the employee contribution is based on, that the $75,000 cap is tested on the list price, and that a lease keeps the treatment it was signed under. Final rules may differ.
How accurate are the figures?
They are an estimate built on the current income tax brackets and Medicare levy, ATO minimum residual values, a 7.5% lease interest rate, and a running-cost estimate scaled to the car price. Your lease provider will quote their own rate, fees and running-cost budget, so treat the result as a starting point, not a quote.
Can I run it for a specific car like a Tesla or a BYD?
Yes. The picker includes a growing range of EVs available in Australia, with indicative prices labelled as drive-away or before on-road costs. You can compare models using the same salary and lease term. If you already know the car, the novated lease pages give you a cost breakdown per variant and salary.
Do I need to sign up or give my details?
No. The calculator runs in your browser and the results appear straight away. If you want the numbers emailed to you, or help finding a lease provider, you can choose to leave your details at the end, but it is entirely optional.
Already know the car?
Every model has its own novated lease page with the cost per variant and what your salary changes, and the vehicle browser compares range, price and FBT status across every EV. Each price and estimated saving below is for the model's lowest-priced variant, on a $110,000 salary, 5-year lease, vs a car loan.
