| A Novated Lease is a finance arrangement where
an employee leases the vehicle from Lexus Financial Services,
however, the employer assumes the obligation to make the lease
payments for the term of the lease as part of an employee's
salary package.
For the first year, the lease can be structured to include
all on-road, registration and insurance costs (including Lexus
Extra Care products and services), and may constitute a very
tax effective means of employee remuneration.
On termination of employment the employee assumes the liability
for lease payments however, by agreement, may novate the lease
to their new employer.
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