What can you claim? How to claim online? When are reimbursements processed?
To claim a reimbursement you will need to login to your easi online expenses account.
When claiming a reimbursement, the leasing expense account first checks that funds are available for payment. Reimbursements can only be processed from pre-tax funds that physically have been collected from your salary and cannot be pre-paid from expected funds.
Example: You have chosen a retail comprehensive insurance provider at a cost of $1,000 per year. This has been budgeted into your novated lease quotation to be collected from your fortnightly pay.
$1,000 / 26 fortnights = $38.46 per pay collected pre-tax.
You can claim reimbursement of the insurance at the end of the year (26 fortnights) once the funds have accumulated, or claim quarterly from funds that have accumulated.
If you claim in advance, your balance will enter a negative position and cause your finance payments to fall behind.
What can be claimed?
The ATO allows you to claim expenses that are related to the use of the vehicle.
- Registration
- Servicing
- Maintenance
- Insurance
- Fuel
- Electricity (for PHEV or EV using the cents per km method)
- Tyres
- Car washes
You cannot claim capital upgrades to your vehicle such as a new stereo system, Bull bar or Tow bar. If you choose to upgrade your vehicles wheel rims you cannot claim this either.