Hello everyone, 

Didnt know what topic to post this in.

So i recently started a new job. Which is great ! Thr bad thing is my car is pretty much dying on me. Which isn't great as i drive 1000ks a week for work. Train isnt an option as it would take 3 hours one way.

I cant afford to buy a new car outright as im saving for a house. 

So i got told i can salary sacrifice and get a company car. Anyone here had any experience doing this and could you explain how it all works etc.

Thank you

Part of your salary goes towards car repayments instead of your bank account therefore is effectively tax free.

If thats not an option then i would suggest quitting your job and going on welfare as this is the best way to save for a house.

You started off so well with your post, then you went full retard.

Depends if they were referring to a novated lease or an actual payment for a car. Also depends on who the salarcy sac provider is as each one differs from the next with the amount you can use that goes towards fringe benefits.

Also bare in mind that just because you're paying a part that is essentially pre-tax earnings, this will lower your gross and subsequent net incomes where there are other calculations based off these figures RE: HECS debts for instance which can end up giving you a nice bill come tax time.

Either way, check who your provider is for your workplace and then contact a tax accountant to get the break down of how it would affect you.

Different industries get different deals, for instance QLD Health have a very good deal with Remserv as its one of the perks that they use to try and lure people to work for them instead of jumping ship to private industries.

-PB

Thanks man.

Well found out today im eligible for a notated lease. It will only be for a year as we are moving office next year and ill be able to catch the train then.

The company has a deal with TFM - Toyota Fleet Managment

I don't have HECS debt so that helps.