Novated Lease
A novated lease is a type of motor vehicle lease common in Australia that allows a business to lease a motor vehicle on behalf of an employee, with the responsibility for the lease lying with the employee and the lease payments being made from the employee's pre-tax income.
The term novated lease is also used in the UK to refer to a car lease which has been novated (transferred) between two parties.
Read more about Novated Lease: Novated Leases in Australia, Novated Leases in The United Kingdom
Famous quotes containing the word lease:
“Shall I compare thee to a summer’s day?
Thou art more lovely and more temperate.
Rough winds do shake the darling buds of May,
And summer’s lease hath all too short a date.”
—William Shakespeare (1564–1616)