3 days ago
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With skills shortages in many industries, Australian small-to-medium businesses (SMBs) can often find themselves in a war for talent with their larger rivals.
Amid challenging economic times, offering more money to prospective employees can be difficult, which is why it's so important for smaller businesses to offer the right benefits.
With growing cost-of-living pressures, making it more affordable to drive a new or used car is one of the most attractive employee benefits that SMBs can offer to sweeten the deal. When novated leases greatly benefit employees, it's little surprise that they have become more common in Australia.
Their popularity is partly driven by the Federal Government's EV discount. Around 35 per cent of all new novated leases are for electric vehicles, according to the National Automotive Leasing and Salary Packaging Association (NALSPA).
As the new novated lease partner for SMBs, Oly levels the playing field by making novated leases accessible to more small and medium businesses. Built specifically for SMBs, Oly lets you enjoy all the benefits of novated leasing. Thanks to Oly, SMBs can easily offer employees an attractive benefit, helping them save on tax while driving their dream car. Oly is here to support businesses that want to offer novated leases to their employees, providing the tools and assistance needed, from sign-up to setting up automatic deductions, and guiding employers through every step.
2025 Tesla Model 3
Long Range Sedan
Price (MRLP*)
$64,900
Weekly Payments
Est tax saving
2025 BYD Seal
Premium Sedan 4dr
Price (MRLP*)
$52,990
Weekly Payments
Est tax saving
2025 Polestar 2
534 Long range
Price (MRLP*)
$71,400
Weekly Payments
Est tax saving
2025 GWM Ora
ES11 Extended Range
Price (MRLP*)
$40,990
Weekly Payments
Est tax saving
2024 MG ZS EV
AZS1 Long Range
Price (MRLP*)
$46,990
Weekly Payments
Est tax saving
2025 Volvo EX30
Twin Motor Performance
Price (MRLP*)
$71,290
Weekly Payments
Est tax saving
2025 Hyundai IONIQ 6
CE.V3 DYNAMIQ Sedan
Price (MRLP*)
$78,500
Weekly Payments
Est tax saving
2024 CUPRA Born
K1 Hatchback 5dr
Price (MRLP*)
$59,990
Weekly Payments
Est tax saving
2025 Kia Sorento
MQ4 PE PHEV
Price (MRLP*)
$84,660
Weekly Payments
Est tax saving
How does novated leasing work?
A novated lease lets your employees take advantage of 'salary sacrificing' to easily lease a new or used car, without paying an upfront deposit. This not only helps employees smooth out their budgeting but could also help to reduce their taxable income, by taking payments from their pre-and post-tax salary, or 100 per cent before-tax for an eligible electric car.
And you can bundle car payments and running costs into a single regular payment which includes petrol or charging, registration, insurance, tyres and servicing.
Plus, a novated lease is the only way to unlock the Government's EV discount to save you more money on eligible electric cars. The EV Discount offers a fringe benefits tax exemption for eligible electric cars which fall under Australia's luxury car tax threshold.*
Can small and medium businesses offer a novated lease?
A novated lease was once the kind of perk that only big corporates and government offered to employees, but Oly is changing that by making novated leasing easily accessible to small and medium businesses, so the benefits can be enjoyed by more Australians, rather than just the privileged few.
Designed specifically for small and medium businesses, Oly’s online Business Hub puts everything employers need in one spot for managing employees' novated lease. Plus, Oly AutoPay automatically takes care of all the regular deductions through direct debit, so employers don’t have to.
What are the benefits of novated leases for employers?
Novated leasing makes it easy for employers to improve their employee value proposition and to help them attract and retain the best employees.
It's a great way for businesses to bring more to the table and help ease their employees' cost-of-living pressures and there are no fees for employers to offer this fantastic employee benefit, so everyone wins.
Plus, Oly’s team of pros is on hand to offer advice or assistance with any part of the process and help with everything needed to include the lease as part of BAS and FBT reporting.
Oly is backed by one of Australia’s largest and most trusted leasing providers, McMillan Shakespeare Group (MMS), meaning you can benefit from bigger buying power and over 35 years of experience.
With an Oly novated lease employees can forget about bill-juggling and late payment fees by bundling car payments and on-going driving costs including petrol, servicing, registration, insurance and tyres into one simple regular payment which comes straight from their salary.
Plus, with access to the Oly app at their fingertips, employees can easily view transactions, track budgets and submit claims anywhere, at any time.
With Oly, it's never been easier for businesses to take advantage of novated leases to offer fantastic employee benefits which can ease cost-of-living pressures while getting employees behind the wheel of their dream car.
Get in touch with Oly to learn more and start offering this great employee benefit today.
T&Cs apply. This general information doesn’t take your personal circumstances into account. Consider whether this information is right for you before making a decision and seek professional independent tax and financial advice. Conditions and fees apply, along with credit assessment criteria for lease and loan products. The availability of benefits is subject to your organisation’s approval. Oly may pay and/or receive commissions in connection with its services.
*The following advice is provided as general information only and should not be considered financial, tax or legal advice. From April 1, 2025, a plug-in hybrid electric vehicle is no longer considered a zero- or low-emissions vehicle under FBT law. However, your employer can continue to apply the exemption if both the following requirements are met: 1) Use of the plug-in hybrid electric vehicle was exempt before April 1, 2025. 2) You have a financially binding commitment to continue using the vehicle for private use on and after April 1, 2025.
For this purpose, any optional extension of the agreement is not considered binding. To qualify for the EV discount, plug-in hybrid electric vehicles must have been delivered by midnight on March 31, 2025.
