Novated Lease. 14.1 Subject to agreement by the Company, eligible Full Time Employees may elect in writing to forego part of their remuneration under a salary sacrifice arrangement for the purposes of entering a novated lease in accordance with the applicable Company policies and procedures as varied from time to time.
Novated Lease. 1.15.1 The Company agrees to continue to make available to employees the option of salary sacrifice for novated lease vehicles in accordance with Company policy and applicable laws. Employees will be required to use the novated lease provider selected by the Company. The novated lease company selected will be required to provide employees with information (tax implications, etc) through employee sessions and one-on-one meetings if required. Employees are advised to seek independent financial advice prior to entering into a novated lease arrangement.
Novated Lease. A finance arrangement where an employee who has the ability to salary sacrifice takes out a finance lease and then ‘novates’ it to their employer. The employer agrees to take on the financial responsibility for paying the rentals under the lease while the employee remains with them. The employer claims a deduction for the lease rentals. The employee cannot claim any deduction for the lease rentals. Lease of Luxury Cars A finance lease, structured lease or novated lease of a luxury car (a car costing over the luxury car tax threshold).
Novated Lease. CSL will continue to facilitate employee’s acquisition of a vehicle through novated leasing arrangements. Employees are responsible for any liabilities associated with this arrangement, including tax, which is subject to Australian tax rulings as varied from time to time.
Novated Lease. 3.1 In consideration of the rescission of the Lease, the Lessor grants and the Employer accepts to be bound by and punctually perform the Employer Obligations from the Commencement Date.
Novated Lease. (i) An employee who wishes to enter into a novated lease for a vehicle under the provisions of this clause may do so only through the Administrator appointed by WorkSafe Victoria.
Novated Lease. 10.4.1 The Company will provide for administration of novated leases for Employees covered under this Agreement at Clause 8.6 & Clause 8.9.
Novated Lease. 59.1 BAA will continue to make available to Employees the option of salary sacrifice for novated lease vehicles in accordance with BAA policy and applicable laws.
