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Motorcycle Leasing

Discussion in 'General Motorcycling Discussion' at netrider.net.au started by TruCallin, Nov 10, 2009.

?
  1. Yes

    11 vote(s)
    52.4%
  2. No

    3 vote(s)
    14.3%
  3. Never thought about it but would consider it.

    7 vote(s)
    33.3%
  1. Recently been looking into novated leasing my bike as it is now my soul means of transport and will easily cover 25,000km a year. Got a quote from Aussie Fleet Management that showed l would save approx $6000 a year by leasing my bike and having all of the running costs come out before tax.

    Unfortunately for me the two leasing companies that my employer contracts do not offer motorcycle leasing as a service, they sight lack of interest as the reason.

    Therefore my question to you all is if you had the ability to novate lease a motorcycle would you.


     
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  2. Mate you really do love riding don't you! :angel:
     
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  3. LOL, i was thinking exactly the same thing.

    Tru - If you have a brand new bike you will do massive kms on then why not give it a whirl. I'm contemplating doing a log book on my Ducati as i barely use it now. I do more kms cycling than riding these days 8-[
     
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  4. I tried to novate a new bike a few months ago. My salary packaging company researched it and advised that the ATO do not allow you to novate a motorcycle. I did receive a fairly comprehensive reply quoting the ATO's position on this issue but I still dont understand or accept it. Perhaps someone in the forums can provide a more easily understood explanation.
     
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  5. true.
    I went into it a couple of years ago and you can't do it... The ATO don't allow it.

    Theres some pretty comprehensive stuff posted by various people on Netrider - try a search.
     
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  6. Motorcycles are evil and are the root cause of all domestic terrorism, didn't you know?
     
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  7. The above poster is correct according to what our accountant stated.

    The ATO simply won't allow it (which sucks).
     
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  8. For those who say you can't do it.... bollocks. Your accountant or your leasing agent puts it in the too hard basket.

    It is possible... and I have done it... twice .... and received written advice from the ATO on certain points relating to my own personal situation.

    The company referred to in the OP is one of only about three that are prepared to do it. It falls under the same exemption provisions as one tonne and twin cab utes, which are motor vehicles 'other than cars'.

    But you need to clarrify how you use the bike (work/personal)... that is the most important issue
     
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  9. You guys sure, it was my housemate who works for the ATO that mentioned it last week.
     
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  10. For all those that are interested. I did received a letter from the Commissioner of Taxation that you are able to lease a motorcycle I quote..."as part of a salary arrangement, employee may also enter into a novated lease agreement with employer for motorcycle"....(2 June 2010) I am at present talking with SGE Credit Union in NSW and will keep you posted. My accountant further suggests that you would need to do at least 25 thousand a year for max benefits. (I have leased a car for many years now its time for a bike)

    Regards
    Voss
    Stay safe
     
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  11. I'm very interested in how this progresses. Similar to a couple of the other posters I was told by my employers salary packaging company that it cant be done as a motorcycle is not regarded as a motor vehicle or whatever. Best of luck with this.
     
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  12. ^^^

    This is what I was advised some times back as well, evidently the ATO are sticking to this position.

    I would be interested to see any evidence showing their position has actually changed!
     
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  13. Yes I got the same advice
     
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  14. Hey TruCallin,

    Pm Morbo28 (im sure he wont mind, he's a good bloke!!) And ask him, he has his bike thru his company im sure.
     
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  15. Hey Gilesy,

    How do I pm Morbo28??

    Vossy
    Stay safe
     
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  16. If this is the case why does companies like this offer novated bike leasing?

    http://www.1300carlease.com.au/novated-motorcycle-leasing.html

    (I just did a google search, so no idea on the company). As already suggested you've come across a lazy accountant or the firms leasing company just doesn't do bikes.
     
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