Tesla Model Y Novated Lease
Calculate novated lease savings on the Tesla Model Y ($58,900.00).
Last verified: 2025-07-01 | 2025-26 tax rates
Tesla Model Y Novated Lease at a Glance
$58,900.00
EV
533 km
75 kWh
$0 (exempt)
$5,354.55
Tesla Model Y Novated Lease Savings by Salary
| Salary | Fortnightly | Tax saving | Total saving |
|---|---|---|---|
| $70,000.00 | $801.86 | $10,007.27 | $16,261.82 |
| $85,000.00 | $801.86 | $10,007.27 | $16,261.82 |
| $100,000.00 | $801.86 | $10,007.27 | $16,261.82 |
| $120,000.00 | $801.86 | $10,007.27 | $16,261.82 |
| $150,000.00 | $801.86 | $12,196.36 | $18,450.91 |
Tesla Model Y Annual Running Costs
| Charging | $700.00 |
| Insurance | $1,500.00 |
| Registration | $800.00 |
| Servicing | $350.00 |
| Total per year | $3,350.00 |
Buying vs Novated Lease: Tesla Model Y
Comparison for an $85,000 salary over 3 years:
Buying outright
$68,800.00
After-tax dollars
Novated lease
$62,545.45
Pre + post-tax mix
Is the Tesla Model Y worth it on a novated lease?
The Tesla Model Y is one of Australia's most popular electric vehicles and makes an excellent choice for novated leasing. As an EV priced under $91,387, it qualifies for the FBT exemption, meaning you pay $0 in Fringe Benefits Tax. This makes the Tesla Model Y significantly cheaper through salary sacrifice than buying outright.
At a driveaway price of $58,900.00, you save $5,354.55 in GST alone. Combined with income tax savings from salary sacrifice, total savings over a 3-year lease can exceed $16,261.82 on an $85,000 salary.
With a 75 kWh battery and 533 km of range, the Tesla Model Y handles daily commuting with ease. Annual charging costs are approximately $700.00 compared to $2,000+ for a comparable petrol car.
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Frequently Asked Questions
How much does a Tesla Model Y novated lease cost?
On an $85,000 salary with a 3-year lease, the Tesla Model Y ($58,900.00) costs approximately $801.86 per fortnight including running costs.
Is the Tesla Model Y FBT exempt?
Yes, the Tesla Model Y is FBT exempt as it is an electric vehicle priced under $91,387. You pay $0 FBT on a novated lease until March 2027.
How much can I save on a Tesla Model Y novated lease?
On an $85,000 salary over 3 years, you can save approximately $16,261.82 through GST savings, reduced income tax, and $0 FBT.
What are the running costs of a Tesla Model Y?
Annual running costs for the Tesla Model Y are approximately $3,350.00, including charging ($700.00), insurance ($1,500.00), rego ($800.00), and servicing ($350.00).
What is the range of the Tesla Model Y?
The Tesla Model Y has a range of approximately 533 km on a full charge with a 75 kWh battery pack.
Calculate Your Exact Savings
Use our novated lease calculator with your specific salary, car, and preferences.
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