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Old 15-10-2015, 11:14 AM   #1
jcat58
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Default Leasing Cars

Thinking about leasing a motor vehicle through SG Fleet. What are peoples thoughts on leasing.Thanks
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Old 15-10-2015, 12:16 PM   #2
Polyal
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Default Re: Leasing Cars

Yeah I am looking at it in the new year too. I was previously of the opinion it was BS and didnt work out but depending on how much you drive it might?

I wish there was a calculator where you can put your salary in and it works out the net effect or advantage you get and how it effects your take home pay etc
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Old 15-10-2015, 05:25 PM   #3
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Default Re: Leasing Cars

there is calculator, go to sg fleet on the web and it will ask you , car, wage, lease time etc
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Old 15-10-2015, 06:10 PM   #4
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Default Re: Leasing Cars

Yeah that tells you the fortnightly amount, not how the actual deduction works....

So say for example I get taxed $4k a month, does that $700 a fortnight come out of that..so I am only taxed $3300....

I have NFI with that stuff.
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Old 15-10-2015, 08:00 PM   #5
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Default Re: Leasing Cars

Is SG Fleet your only option? There are other companies with similar/better terms.
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Old 15-10-2015, 08:02 PM   #6
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Default Re: Leasing Cars

Quote:
Originally Posted by Polyal View Post
Yeah that tells you the fortnightly amount, not how the actual deduction works....

So say for example I get taxed $4k a month, does that $700 a fortnight come out of that..so I am only taxed $3300....

I have NFI with that stuff.
It's actually pretty simple and with the flat 20%fbt calculation it doesn't mean you have to do a certain number of kms to keep the cheaper fbt bracket.

In a very basic formula you want a cheap car with high running costs to get the best value from a lease as the fbt calculation is on the fbt base price of the car...
Best advice is research, do the sums and research some more.
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Old 15-10-2015, 09:10 PM   #7
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Default Re: Leasing Cars

Quote:
Originally Posted by Polyal View Post
Yeah that tells you the fortnightly amount, not how the actual deduction works....

So say for example I get taxed $4k a month, does that $700 a fortnight come out of that..so I am only taxed $3300....

I have NFI with that stuff.
"If you are paying $4,000 a month tax you are earning too much"

I looked at it, figured it to be like renting (making someone else money)
So I loaned myself the money (home redraw), will have the accountant claim the interest, running costs and depreciation at tax time.

And will sell myself or friend the "well looked after" vehicle for bugger all after 3-5yrs.
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