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CALCULATOR - ASSUMPTIONS
The Novated EV Subscriptions Calculator is indicative only and should not be your only source of information. The calculator is designed to provide a reasonable estimate of the weekly costs and savings associated with a novated EV Subscription, but the results should not be taken to be financial or tax advice.
Subscription Cost
The subscription cost covers the standard inclusions, being the vehicle, registration, insurance, roadside assistance and regular maintenance (including glass and tyres) and the standard km allowance.
Minimum cost based on holding the subscription for the minimum term (30 days) at the full (non-salary packaged) weekly rate plus the early termination fee. Note subscription fee is at the full weekly rate as the ATO require a minimum term of 3 months for FBT exemptions to be applied.
Costs not covered in the subscription, that will need to be paid post-tax, include; Charging costs, home charger purchase costs, tolls, insurance excess, damage repairs and non-fair wear and tear costs.
Joining fees
Joining fees are not included in the calculator estimate.
FBT Liability Exemption
Calculations are based on the car meeting the ATO exemption criteria. All vehicles available through AGL’s Novated Subscription offering meet the relevant FBT exemption criteria. Note that ATO require a minimum term of 3 months for FBT exemptions to be applied.
GST
The calculations provided on this website assume that the relevant employer is registered for GST and can claim a full credit for GST paid
Tax
The calculations provided on this website are calculated and estimated based upon the official tax rates current as at July 2024 for the 2024-25 Australian resident tax rates provided by the ATO.
No allowance has been made for other components in the income tax calculation including but not limited to Medicare levy, HECS liability or Child Care Subsidy. The calculator does not take into account all relevant details about the individual’s tax or financial circumstances. The actual tax payable by you or deduction available to you (if any) will depend on your personal circumstances.
You should seek advice from a financial/tax adviser before making any decision.
Charging
Charging costs are not included in the calculator estimate, nor the cost of home charging hardware or installation.
Kilometres
Calculations are based on the usage being within the standard km allowance.
Employer participation
To be eligible for this product, your employer will need to agree to accept novation of the EV Subscription Agreement pursuant to the Novation Agreement. For employers who anticipate multiple employees signing up to the offer, we recommend entering into a Master Services Agreement with AGL. Find out more here.
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