Get ahead': Car hack that could save you big

A novated lease could help you get ahead by lowering your taxable income while letting you drive a cutting-edge car for less. The arrangement links you, your employer, and a leasing company so a portion of your salary covers the car, with no logbook required and the benefit treated under fringe benefits tax rules at about 20% of the vehicle's base cost. Proponents point to large subsidies and pre-tax payments, with some claiming substantial savings on ownership costs. In the example cited, payments on an $84,000 Tesla Model Y were lower than those on a $64,000 BYD Shark hybrid. Authorities caution the incentives could change mid-2027.