salary sacrifice an SS

[ers_6]

Gday all,

Just want to grab everyones opinions.
looking at salary sacrificing an SS, wanna know if u think I should get the current model or wait and see if the VE is a 6L???

Im inclined to wait and pay the bit more for a 6L. But that does mean waiting.

Cheers

[YIIR8]

Why not get a 6L Clubby ?? After optioning up an SS it's not that much dearer than to get a Clubby :)

[OzJavelin]

Is this a novated lease or a "fleet" car (eg. Telstra). If it's a fleet car it doesn't really matter what you get. If it's novated you really need to consider the ballon buy-out and the resell value? (if we are talking pure economics ... )

[vuster]

If I were you I would buy the car now. I hear the VE is not going to arrive until mid/late next year so that's a fair bit of time. When it's out you're probably going to be one of the first few to buy one so I guess you won't get a very attractive price. Buy one now at run out prices and you will be saving a stack. If you're on a novated lease like myself, you can sell the car and pay off the lease anytime you want. You can then start a new lease for the VE. If the car is a full on company car then I guess you'll be stuck with it for 3 or so years.

I agree with YIIR8, at about 53K drive away for brand new clubby how could you resist?

[PepeLePew]

Mate the next big thing is always around the corner.....

Why wait? Shorten your lease period if its a concern...

Or as said above...an optioned SS and a base Clubby arent a lot of different dollars....

Enjoy today...exchange tomorrow :)

[Nursing_Mother]

Forget all that and get a One Tonner :burnout:

[team illucid]

I add another vote for the clubby, even though I am not a big HSV fan ... just too good an option to pass up ...

[fester1]

Might be useful to get an accountants view on this. Regardless of vehicle, with the changes in the tax scales I've heard that salary sacrificing vehicles is not as attractive as it was previously - depending on your travel distances and annual salary. Might make more sense to but outright or finance yourself.?

[HSVREDSLED]

think about this....

IF (and only if) they release a ls2 SS in the next 12 months (which is extremely doubtful) my guess is that it will be more expensive than a clubby now.

as others have stated, if you can get a clubby ls2 for less than say 54k driveaway, there is your answer.

[markone2]

think about this....

IF (and only if) they release a ls2 SS in the next 12 months (which is extremely doubtful) my guess is that it will be more expensive than a clubby now.
.

VERY........my vote goes with the present Clubby now on offer for canny shoppers at what I believe is truly outstanding value in anyones language.....imho

[rocks-crewman]

Don't forget to factor in that an HSV (depending on the individual) insurance figure can and will be quite severly higher than an SS. HSV's appear to depreciate painfully quickly too. Whatever you do, do it now pal - life is too short to wait....

[HSVREDSLED]

Don't forget to factor in that an HSV (depending on the individual) insurance figure can and will be quite severly higher than an SS. HSV's appear to depreciate painfully quickly too. Whatever you do, do it now pal - life is too short to wait....

I agree they appreciate severly from 71k when they were first released, but the depreciation from 54 k would not be so bad.

Also I have found that the DNA data dot that HSV supply is looked upon quite favourably from insurance companies.

[vuster]

Don't forget to factor in that an HSV (depending on the individual) insurance figure can and will be quite severly higher than an SS. HSV's appear to depreciate painfully quickly too. Whatever you do, do it now pal - life is too short to wait....

My novated lease/company insurance is covered by my company. The items that make up the salary sacrifice for me are maintenance/petrol/finance/fbt. Maybe er's6 has a similar car plan. If so then that's another incentive to go with the clubby. If not then one point goes to the SS.

[Smitty]

as the one who arranges salary packages at my work
a warning....
lease a car (eg a Clubby) thru a novated lease for more than the luxury car limit
(currently around $57k) be very prepared to have some big $ put against
your sacrifice amount.... cars above the luxury limit lose a lot of the
benefits with having a car thru your package. Your boss cannot deduct
all the expenses (fuel reg etc) or even the lease costs BUT you still get hit with FBT on the full purchase price

get some professional advice


cheers

[daveee]

Wait for the VE- you wont be sorry

[Goggles]

as the one who arranges salary packages at my work
a warning....
lease a car (eg a Clubby) thru a novated lease for more than the luxury car limit
(currently around $57k) be very prepared to have some big $ put against
your sacrifice amount.... cars above the luxury limit lose a lot of the
benefits with having a car thru your package.

interesting comments.....I went to the leaseplan.com.au website to check out the cost of a Clubby and it is listed as $55K, and the discount is P.O.A. Does anyone know what the discount would be because if it is significant, then a brand new Clubby under a novated lease would be well under the $57K even with some options?

[HSVREDSLED]

as the one who arranges salary packages at my work
a warning....
lease a car (eg a Clubby) thru a novated lease for more than the luxury car limit
(currently around $57k) be very prepared to have some big $ put against
your sacrifice amount.... cars above the luxury limit lose a lot of the
benefits with having a car thru your package. Your boss cannot deduct
all the expenses (fuel reg etc) or even the lease costs BUT you still get hit with FBT on the full purchase price

get some professional advice


cheers

Totally agree. But I think everyone here was referring to a clubby bought for around the 54,54, 55 k mark.

Bargains can be had as the life of a current model gets older.

[Smitty]

interesting comments.....I went to the leaseplan.com.au website to check out the cost of a Clubby and it is listed as $55K, and the discount is P.O.A. Does anyone know what the discount would be because if it is significant, then a brand new Clubby under a novated lease would be well under the $57K even with some options?

just a clarification....
the definition of a luxury car is one with a GST INCLUSIVE price of a minimum of $57,009 . The value of $57009 excludes rego stamp duty but INCLUDES dealer delivery.
and
once you reach this figure, 2 things happen
1) you start losing the tax value (tax deductability) that you get with cheaper vehicles. A novated lease vehicle thus loses some of its attraction and remember that cars are concessionally treated for FBT. This concession disappears (on a prorata basis)
2) the government will require you to pay a LUXURY CAR TAX at the time of purchase which is an EXTRA 20% of the GST inclusive price.
....which is a rip off. You also are unable to claim this back if a company
or if an ABN registered business. and the paperwork is a killer

as I said
get some professional advice

[vuster]

From my memory, you are only required to pay luxury car tax on the amount exceeding the luxury car tax threshold. i.e. Not on the total amount of the car.

[VZSS250]

Is luxury tax part of the on road cost of a new car, or do you have to pay it after delivery?

[Smitty]

From my memory, you are only required to pay luxury car tax on the amount exceeding the luxury car tax threshold. i.e. Not on the total amount of the car.

correct
my post is not clear on that point
thanks

cheers

[Smitty]

Is luxury tax part of the on road cost of a new car, or do you have to pay it after delivery?

part of the onroad cost
it gets added onto the price..like stamp duty or dealer delivery


hth