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| The Pub For General Automotive Related Talk |
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18-07-2007, 04:20 PM
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Regular Member
Join Date: Mar 2005
Location: Mt Waverley, Victoria
Posts: 358
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Hi guys,
Just to learn a bit before I see my accountant I decided to play around with some online novated lease calculators. Firstly I used the site: http://www.fleetpartners.com.au Put in the following details: Ford, 6-cylinder, $40k, 25,001 km, and a gross salary of $65k. Alright according to that, if I purchase the above car it will mean my net annual salary will be: $37300. This is using the ECM option, so that in my opinion seems a bit high. Next I tried: http://www.leasexpress.com.au/ calculator Same details and it says it will reduce my take home weekly pay by $272. Now this seems more realistic. This means my anual pay should be around the high $40,000 mark. This is also using the employee contribution method. What am I missing, why is there a massive difference? |
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novated leasing, ecm method confusion
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