Common use of NOVATED LEASES Clause in Contracts

NOVATED LEASES. A novated lease is a type of motor vehicle lease common in Australia between an employee, employer, and finance company, with the responsibility for the lease lying with the employee and the lease payments being made from the employee's pre-tax income. The employer shall not make it a job requirement that an employee enter into a novated lease agreement for the use of a motor vehicle.

NOVATED LEASES. A novated lease is a type of motor vehicle lease common in Australia between an employee, employer, and finance company, with the responsibility for the lease lying with the employee and the lease payments being made from the employee's pre-tax income. The employer shall not make it a job requirement that an employee enter into a novated lease agreement for the use of a motor vehicle. Novated lease arrangements may be offered to employees at the employer’s discretion.

NOVATED LEASES. A novated lease is a type of motor vehicle lease common in Australia between an employee, employer, and finance company, with the responsibility for the lease lying with the employee and the lease payments being made from the employee's pre-tax income. The employer shall not make it a job requirement that an employee enter into a novated lease agreement for the use of a motor vehicle. Schedule 4.7: Attachment - Part-time Employment - Local Government (State) Award 2017.