Absolutely! A novated lease on a Tesla 3 offers so many financial advantages and benefits. By using pre-tax dollars to make your lease payments, you effectively lower your taxable income, resulting in substantial tax savings. You'll benefit from GST savings on the vehicle purchase price and running costs like insurance, tyres, maintenance, and charging. And, the Tesla Model 3’s eligibility for the federal government’s fringe benefits tax (FBT) exemption for electric vehicles under the luxury car tax threshold enhances these savings even further. You’ll enjoy all the benefits of owning and driving a Tesla 3, while spending so much less than traditional finance options.

To qualify for the fringe benefits tax (FBT) exemption on a novated lease for a Tesla Model 3, several criteria must be met:

• The vehicle must be a battery electric vehicle, plug-in hybrid electric vehicle, or hydrogen fuel cell electric vehicle.
• It should be a passenger vehicle designed to carry a load of less than one tonne and fewer than nine passengers.
• The vehicle must be first held and used after 1 July 2022, meaning it was available for use for the first time after this date.
• The vehicle’s value should be below the luxury car tax (LCT) threshold, which is $89,332 for the financial year 2023/24..

There isn't a fixed minimum salary requirement for a novated lease on a Tesla Model 3; instead, approval depends on your overall financial situation and capacity as a borrower. Factors such as your income, living expenses, and any financial dependents are considered to determine your ability to make regular lease payments over the term. It’s important to consult with LeaseLab to evaluate your specific situation and explore your options for a Tesla Model 3 novated lease.