When entering into a novated lease arrangement it can be easy to have fireworks going off in your head about getting that new car. However, there are a few cautions to be aware of for both the employee, and the employer. Most people don’t pay attention to tip number 4.
If you have an associate lease arrangement with your employer, and you are the associate, how do you complete your income tax return? In this article we go step by step through the income and allowable deductions to complete your income tax return.
What is an associate lease? How can it provide additional benefits? Why do some state it’s the best form of salary packaging around? Why are the two different types of associate leases, and how one is better than the other?
It can be quite exciting on the cusp of a new car purchase, especially when there’s a slight financial advantage to doing so, but before you jump into signing on the dotted line, you might want to check an unbiased independent calculator first to determine whether the new novated lease arrangement will truly be worth it for you.
Another thing I came to realise after when my wife, and I did our first budget together and compared it against our actual transaction history was just how much we spent on fast food/takeaways! When I saw how much I had spent my wife pointed to my belly and gave me that assuring nod of “and we can all see where that investment has gone”. So seeing that this was a budget killer my wife decided I take some healthy food for lunch.
Hello! I’m pleased to meet you. It’s not every day you meet someone here, glad to make your acquaintance. Allow me to introduce myself. First, my name is Ryan Sheehy, and this is my blog. I am a husband to one beautiful loving wife and a father to 3 energetic children all squeezed into one little home with a reasonably sized mortgage. Currently, employed full-time as a Business Manager in the Education industry, and you’ll generally find me headlong in budget spreadsheets or writing code to automate transactions in our accounting system.
Do you budget? No? Is this because you’re afraid of what it might reveal, and are running scared of the changes you might need to make? Budgeting allows you to acquire a superpower, the ability to know what to do in the future and how to control your finances.