An agreement in Australia which allows businesses to lease transportation for its employees. However, a portion of the employee’s wage is deducted to cover the leasing costs. The company is liable for any default payments and accompanying taxeson the lease or purchase of the vehicle. In the event that the employee terminates his/her employment, the costs are transferred to the leaving employee.
What is NOVATED LEASE?
Enter your email address to stay current on legal news and receive special offers
Featuring Black’s Law Dictionary
Nothing implied or stated on this page should be construed to be legal, tax, or professional advice. The Law Dictionary is not a law firm and this page should not be interpreted as creating an attorney-client or legal adviser relationship. For questions regarding your specific situation, please consult a qualified attorney.
- Imperialism Definition, Laws, & History: From Rome To Now
- Capitalism, Socialism, & Communism Explained In Plain English
- What Is A Government Shutdown & Who Does It Affect?
- Is It A Monopoly? Everything You Ever Wanted To Know
- Breach Of Contract: What It Is, Types, Examples, & Resolving Them
- Plausible Deniability Definition, Examples, & Laws
- Nepotism, Cronyism, & Favoritism: Illegal Or Unethical?
- How To Get A Green Card
- How To Obtain A Criminal Background Check In Pennsylvania
- How To Avoid Probate
- Best Way to Find Someone in Jail for Free
- How Do You Look up License Plate Numbers?
- Best Way to Run a Free Arrest Warrant Check
- What Is A Police Welfare Check?
- Signing a Letter on Someone Else’s Behalf
- How To Find An Inmate’s Release Date
- Best Way to Write a Professional Letter to a Judge
- How To Find A Name & Address Using A License Plate Number
- How To Look Up My Court Date Online
- How Do I Check On My Security Clearance Status?