The Victorian Government approved the introduction of a novated vehicle lease facility for Victorian Public Service (VPS) employees in 2002.
A novated lease is an agreement which enables a VPS employee to lease a motor vehicle through a finance company with the employer facilitating the arrangement by making fortnightly lease payments through the payroll on the VPS employee’s behalf.
Advisory Note:
The Novated Vehicle Lease Facility contract has been extended for 12 months until 8 November 2012. It is anticipated that the contract renewal process will commence in early 2012.
The choice of motor vehicles available for lease is no longer restricted to Australian manufactured vehicles. The recent change in Novated Leasing Policy means that VPS employees can novate lease any vehicle of their choice, providing the value of the vehicle does not exceed the Luxury Car Tax threshold.
For further information, please refer to:
http://www.vicfleet.vic.gov.au/CA2572270020B77B/pages/novated-leasing
Contract summary
| Supplier Contractor | SG Fleet Australia Pty Ltd |
| Reference | 02-03-10 |
| Open or Closed | Open |
| Start date | 8 November 2002 |
| End date | 8 November 2012 |
| Lead Entity | Department of Treasury & Finance |
| Category Manager | Elena Avrutis Category Manager Government Services Division Department of Treasury and Finance Ph: (+613) 8683 2892 Email: elena.avrutis@dtf.vic.gov.au |
