Australian Novated Lease FBT Exemption Breakdown (2026): BYD Sealion 7 vs Seal vs Shark 6 Real Take-Home Pay Numbers
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With the Australian EV Fringe Benefits Tax (FBT) exemption continuing for battery electric vehicles under the $91,387 LCT threshold (note: PHEVs ended their FBT exemption cutoff on 1 April 2025 unless grandfathered), here is a side-by-side look at actual fortnightly take-home pay impact for a $120,000 gross salary on a 36-month novated lease (15,000 km/yr, self-managed quote):
1. BYD Seal Dynamic ($51,500 drive-away, 100% FBT Exempt)
- Net out-of-pocket impact on take-home pay: $248 / fortnight (includes rego, comprehensive insurance, tyres, servicing & charging allowance)
- Residual balloon at 36 months (46.88%): $22,950 (inc GST)
2. BYD Sealion 7 Design RWD (~$59,800 drive-away, 100% FBT Exempt)
- Net out-of-pocket impact: $289 / fortnight all-inclusive.
Pro tip: Always ask your novated provider for the bare finance rate (aim for 7.2%–8.1% effective) and source your own comprehensive insurance rather than taking their bundled $2,600/yr policy!
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Sourcing your own insurance and unbundling tyre replacement saved me nearly $4,200 over 3 years with Maxxia! You can still reimburse your own insurance receipt pre-tax through your novated lease account within 24 hours.
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@Rachel_B_Melb Exactly what I did with RemServ in QLD. Also, don't forget you can claim the home EV charging flat rate of 4.20 cents/km pre-tax through your novated provider just by submitting a photo of your odometer every quarter!
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Here in the UK our equivalent is the EV Salary Sacrifice scheme (3% BiK tax rate for 2025/26). My BYD Seal Design costs me £345/month net out of my payslip including maintenance, tyres, breakdown cover, and a free Ohme Home Pro charger installation.
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@ThamesValleyEV £345/month all-in with a free Ohme charger on UK Salary Sacrifice is a cracking deal! Both AU Novated Leasing and UK BiK make running a BYD EV cheaper than keeping a 7-year-old petrol car.
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Subscribed to this thread. Has anyone here compared this behaviour before and after the latest DiLink OTA firmware update? Mine felt noticeably smoother in low-speed traffic afterwards.
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For anyone reading this later: make sure you enable SOC calibration by charging to 100% on AC at least once every two to three weeks so the BMS range estimator stays dead accurate.
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Completely agree on the practical usability. Being able to run a 2,000W induction stove and espresso maker off the V2L socket while only dropping 3% SOC over an afternoon is a game changer.
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