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Genesis Novated Lease

Powered by Smart™

 

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The Smart Way to Drive a Genesis

Experience the luxury of Genesis while enjoying potential tax advantages with a Genesis Novated Lease Powered by Smart™. A novated lease is a three-way agreement between you, your employer and Smart™. It allows eligible vehicle costs and lease repayments to be combined into one regular payment deducted from your pre- and post-tax salary.

 

By packaging your vehicle and eligible running costs together, a novated lease can potentially reduce your taxable income, depending on your individual circumstances.

Why Choose a Genesis Novated Lease?

A novated lease may help you make the most of your salary by offering potential tax advantages, including:

 

1. Potentially reducing your taxable income from paying with your pre-tax salary

2. No GST payable on the purchase price of the vehicle, representing a potential saving of 10%*

3. Potential GST savings on eligible running costs such as maintenance and tyres

The Genesis Difference

Genesis represents a new standard of luxury mobility, combining sophisticated design, advanced technology and exceptional customer care.

Genesis benefits include:

 

1. 5-year/unlimited KM warranty1

2. Premium electrified vehicle models

3. Genesis To You concierge service2

4. Complimentary Scheduled Servicing3  and Roadside Assistance4

 

The Smart™ Advantage

Smart™ is one of the Australia’s leading salary packaging and novated leasing providers. With decades of experience helping Australians access the benefits of novated leasing, Smart™ offers expert guidance from application through to vehicle delivery and ongoing lease management.

 

When you choose Smart™, you'll benefit from:

 

1. Dedicated novated leasing specialists

2. Access to a wide range of vehicle options

3. Expert support throughout the lease lifecycle

4. Transparent and easy-to-understand payment structures

5. Ongoing assistance with managing your lease and vehicle expenses

Genesis GV60 Clamshell Hood

How a Genesis Novated Lease Works

STEP 1: Select Your Genesis
Genesis GV60 Clamshell Hood

Choose the Genesis vehicle that best suits your lifestyle and obtain a personalised novated lease quote through a Genesis retail outlet.

STEP 2: Approval Process
How GFV works - Step 2_630x350

Once your employer agrees to the arrangement, Smart™ handles all the paperwork. 

STEP 3: Commence Your Lease
Genesis GV60 Auto Flush Door Handles

Review and sign your lease documentation to get started.   Your novated lease payment can include your vehicle finance and eligible running costs, such as fuel and registration, creating one convenient regular payment.

STEP 4: Enjoy a Premium Experience

Drive your Genesis with confidence while Smart™ helps manage your lease and eligible vehicle expenses.   You'll have visibility over your spending and support throughout your lease term, making it easier to manage your budget. 

STEP 5: Choose Your Next Journey

At the end of your lease, you can: 

i) Arrange to sell the vehicle and, once the residual (balloon amount) has been paid, put any remaining funds towards your next vehicle

ii) Extend your lease and continue enjoying the benefits of novated leasing   

iii) Pay the residual amount and take ownership of your Genesis 

Discover Additional Benefits with GV60 ADVANCED
This is a great time to experience electric luxury with GV60 Advanced.
Eligible battery electric vehicles may attract additional novated leasing benefits under current Federal Government incentives, including an exemption from Fringe Benefits Tax (FBT)^ for eligible vehicles.
Explore GV60 Advanced

FAQ

A novated lease allows you to use money from your salary before tax is taken out. This money is used not only for your vehicle’s repayments, but also eligible general running costs, including expenses such as registration, insurance and servicing. You’ve got these expenses pre-budgeted for, while potentially benefiting from reducing your taxable income.

The Electric Car Discount^ is an initiative from the Federal Government to help make EVs more affordable by exempting eligible^ cars from Fringe Benefits Tax. 

The discount is available on eligible^ new or used fully electric vehicles that are first registered after 1 July 2022, fall below the Luxury Car Tax (LCT) threshold (currently $91,661 in FY 2026-27) and have never had LCT applied at import or sale.

^Fringe Benefits Tax (FBT) exemption available for eligible electric or hydrogen cell vehicles purchased through a novated lease up to the Luxury Car Tax limit ($91,661 in FY 2026-27). See the Australian Taxation Office website for full eligibility criteria.

FBT stands for Fringe Benefits Tax, which is a tax applied to benefits you receive through your employer that aren’t a salary. A novated lease is considered a fringe benefit. Because novated leases incur FBT, it is recommended to make post-tax contributions to offset the FBT liability. This is known as ECM, or the employee contribution method, because the employee (you) is the one making the contributions. If you have an eligible electric vehicle, your lease could be exempt from FBT requiring no post tax contribution, thanks to the Electric Car Discount. Click here for more details.

Smart™ is one of the of Australia’s leading salary packaging and novated leasing providers, trusted by clients across numerous industries including government, healthcare, not-for-profit, education and corporate.

Yes, you can claim electricity for charging an EV – both at home via a smart meter or at a public charging station. However, only one of these methods can be claimed per Fringe Benefits Tax year (which goes from 1 April – 31 March). Currently, the installation and cost of a home charging station cannot be claimed under a novated lease agreement.

The good news about novated leases is that they could move with you if you change employers. Even though your employer manages your lease payments via your salary, the lease is in your name. If you change jobs during your lease term, speak to your new employer about transferring the lease to your new organisation. Alternatively, you could choose to buy your car outright by paying the residual value or keep making payments with post-tax dollars. 

There are three options at the end of your lease:

1. Arrange to sell the vehicle and, once the residual (balloon amount) has been paid, put any remaining funds towards your next vehicle.

2. Extend your lease and potentially continue saving on income tax.

3. Pay the residual on your lease and own your car outright. 

For more details, visit the Smart website.

Depending on your lease arrangement, costs that may be included are:

1. Vehicle repayments

2. Registration and CTP

3. Comprehensive insurance

4. Tyres

5. Fuel or EV charging costs

Begin your Genesis journey today
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Disclaimers

Genesis Motors Australia makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, or suitability of the information provided. Any reliance you place on such information is strictly at your own risk. Genesis Motors Australia will not be liable for any errors, omissions, or inaccuracies.

This is general information only. Before entering into any salary packaging or novated leasing arrangement, you should consider your objectives, financial situation and needs, and seek appropriate legal, financial or other professional advice based upon your own particular circumstances. The availability of benefits is determined by your employer. Conditions and fees apply. Smartsalary Pty Ltd, ABN 24 096 796 100, a Smart™ company.

*GST is not payable on the purchase price of a vehicle financed through a novated lease (GST savings are calculated on the FBT base value of the vehicle, up to the claimable limit [$6,353 in FY 2026-27] unless exempt). 


15-year unlimited kilometre warranty applies to new vehicles for private use only. 5 year / 130,000km (whichever occurs first) warranty applies to vehicles used at any time for ‘commercial application’. Full warranty terms, conditions and exclusions  HERE.

2For genesis to you concierge service - Genesis To You” benefits are available only for the first owner of new Genesis vehicles compliance plated Aug 1, 2020, onwards. Benefits only available within 50km driving distance from your nearest Genesis outlet. Vehicle pick-up/drop-off and loan car subject to availability and eligibility.

 
3Scheduled servicing refers to the ‘scheduled maintenance’ services recommended by Genesis and specified in the normal scheduled service summary supplied with the vehicle at the time of delivery. Complimentary scheduled servicing is available on eligible new vehicles only, as follows:

(a) the earlier of 5 years or 75,000 kms (applies to all Electric vehicles, Diesel vehicles and GV70 range); or

(b) the earlier of 5 years or 50,000 kms (applies to all Petrol vehicles, except GV70 range).

Complimentary scheduled services must be carried out by Genesis Motors Australia or an authorised Genesis repairer. Complimentary scheduled servicing only available when customer presents their vehicle at each of the relevant service intervals. Scheduled servicing excludes wear and tear items and additional work or components required not listed in the vehicle’s manufacturer service book. 
 

4Roadside Assistance coverage varies between Genesis models, and not available for vehicles used as rental cars, taxis and/or rideshare. Roadside assistance coverage applies upon purchase of a new Genesis vehicle as follows: (a) 5 years standard on Petrol/Diesel vehicles; plus, every annual scheduled service performed by Genesis Motors Australia or an authorised Genesis repairer will provide an additional 12-months coverage, each year after the initial 5 years, up to 10 years. (b) 10 years standard on all Electric vehicles. Terms, conditions and exclusions apply, view  here. 
 
^Fringe Benefits Tax (FBT) exemption available for eligible electric or hydrogen cell vehicles purchased through a novated lease up to the Luxury Car Tax limit ($91,661 in FY 2026-27). See the Australian Taxation Office website for full eligibility criteria. 

Salary packaging and novated leasing administration services are provided by Smartsalary Pty Ltd (ABN 24 096 796 100) and Autopia Management Pty Ltd (ACN 111 369 049), which are Smart™ companies.