Southgate provides a complete Novated Lease Vehicle Management Program,
aimed at conveniently and efficiently arranging your Novated Lease in compliance
with Australian Tax Office requirements. Our vehicle management fee includes provision
of the following benefits and services:
A tailored Novated Lease to suit your needs
Southgate has access to a range of financiers and utilises a preferred financier
based on your needs over the lifetime of the lease. Southgate remains the primary
point of contact between you and the financier and facilitates day to day management
including providing payout figures and information directly to you.
Lease terms range from a 12 to 60 months term. The lease features no establishment
fees (normally payable post-tax) and no monthly account keeping fees and can be
structured according to your desired payment budget.
Southgate structures lease arrangements to be two months deferred
to allow time for payroll to respond to the payroll deduction request before lease
payments become due. This removes the need for the first lease instalment to be
paid upon delivery from your post-tax salary. This also allows your salary packaging
funds to sufficiently accrue to ensure the timely payment of the lease payments
and other running costs.
A complete budget for the maintenance of your car
Southgate will prepare a detailed budget for the maintenance of your car including:
Other optional items include:
The Novated Lease budget provided will reflect the expected operating costs based
on your chosen vehicle, the number of kilometres you expect to travel in the FBT
year, the anticipated fuel consumption, tyre wear and servicing and maintenance
costs. The actual costs may be higher or lower than the budget, especially if the
actual kilometres travelled differs significantly from the nominated kilometres,
in which case the maintenance costs will vary.
Where actual operating costs are lower than the budgeted
costs, the remaining funds will be refunded to your employer at the end of the lease
and returned to you via the Payroll Department once the appropriate PAYG has been
withheld. Where actual operating costs are higher than
expected, you will be required to make additional salary sacrifices to meet additional
costs.
In the event of unexpected costs, such as major mechanical
repairs or an accident, you may wish to make once-off payroll deductions to allow
for reimbursement of these costs from your pre-tax salary.
Fuel cards for the efficient and convenient payment of expenses
Southgate provides two fuel cards to each employee who packages a Novated Lease
to allow efficient timing of payment of expenses. These two cards
do not attract any monthly, transaction or merchant fees. Use of these
fuel cards eliminates the hassle of collecting and submitting Tax Invoices required
under the general reimbursement method.
The Ampol Card can be used for payment
of fuel, oil and car wash facilities at over 1,800 Ampol petrol stations,
and for the payment of servicing, maintenance and tyres
at over 5,000 locations Australia-wide.
The Shell Fuel Card can be used for the purchase
of fuel, oil and car wash facilities only, at more than 1,250 Shell and Coles Express
petrol stations Australia-wide.
Servicing and maintenance authorisations
When using the Ampol Card for payment of servicing, maintenance and tyres
at any authorised supplier/repairer, each transaction is individually authorised
to ensure the costs are fair and the work performed is necessary.
Discounted servicing and maintenance costs
Under an arrangement with third party suppliers, we have negotiated a range of discounted
costs for servicing, maintenance, tyres, windscreens and batteries for your Novated
motor vehicle. By using your Ampol Card
for payment at an authorised supplier including:
- Bob Jane T Marts
- Bridgestone Tyre Centre
- Jax QuickFit Tyre Centre
- mycar Tyre & Auto
- Tyrepower
- Tyres and More Yokohama
- O’Brien AutoGlass
- A large number of dealership franchises.
A full list of authorised suppliers can be obtained from the
Ampol Australia Website.
Furthermore, by paying these expenses using your fuel card, you are effectively
paying them free of Income Tax and Fringe Benefits Tax. Simply confirm
that the dealer or supplier accepts Ampol Card
as payment before booking in a service or maintenance.
Odometer Tracking
By recording your odometer reading each time you use the provided fuel cards, Southgate
can assess whether you are on track to achieve your nominated annual kilometres.
If you believe there has been any tangible change in your budgeted vs actual kilometres, you
should advise Southgate immediately so we can make any adjustments to your package
where possible.
Online Fuel and Maintenance Transaction Statements
Southgate provides a secure online facility where you can access a full transaction
history of all fuel card purchases and maintenance authorisations, including fuel,
maintenance, servicing and tyres.
Novated Lease Budget Monitoring
The actual operating costs of your Novated Lease are monitored over the term of
your lease to identify any significant differences between budgeted and actual costs.
Where necessary, Southgate will liaise with you and your employer’s payroll department
to make the necessary adjustments to your vehicle budget and/or income deductions
to ensure the smooth operating of your Novated Lease.
Manual Reimbursements for Vehicle Operating Expenses
Manual reimbursements via your salary package will be made for registration/CTP
and comprehensive insurance (where not covered under a Southgate-arranged comprehensive
insurance policy). You can also claim a reimbursement for any fuel expenses incurred
between the date you receive your novated lease vehicle and when your fuel cards
are received.