Based on checking the website, Oly.com.au appears to be a platform specializing in novated leases for new cars in Australia.

They aim to simplify the process of acquiring a vehicle through salary packaging, offering potential tax savings and convenience by bundling car payments with all on-road costs.

The site emphasizes making these benefits accessible to a broader range of Australians, beyond just large corporations, and highlights their backing by a well-established Australian novated lease provider.

Oly.com.au positions itself as a facilitator for individuals looking to leverage tax efficiencies to drive a new car.

Their service involves integrating car payments and running costs like fuel, registration, insurance, servicing, and tires directly from an employee’s pre-tax salary.

This approach is presented as a significant financial advantage, potentially saving thousands of dollars compared to traditional car ownership.

The website also places a strong focus on electric vehicles EVs, detailing how government incentives like the Electric Vehicle Discount can make EVs more affordable through a novated lease.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Table of Contents

Understanding the Oly.com.au Novated Lease Model

A novated lease, as presented by Oly.com.au, is a three-way agreement between an employee, their employer, and a financier.

It’s essentially a salary packaging arrangement where your employer takes on the responsibility of your car lease payments and running costs directly from your pre-tax salary.

This financial structure can offer significant tax advantages.

How a Novated Lease Works with Oly

Oly.com.au breaks down the process into several key steps:

Vehicle Selection: You choose your desired new car, and Oly assists in sourcing it, potentially offering access to fleet pricing.
Cost Consolidation: All your car-related expenses – the lease payments, fuel, registration, insurance, servicing, and even tires – are bundled into one regular payment.
Pre-Tax Deductions: This bundled payment is deducted from your gross salary before tax is calculated. This is the core mechanism for the advertised tax savings.
Employer’s Role: Your employer manages these deductions and forwards the payments to the financier and Oly. They effectively take over the lease agreement for you while you’re employed with them.
End of Lease: At the end of the lease term, you typically have options: upgrade to a new car, pay off the residual value and own the car, or refinance the residual.

The Financial Mechanics: Pre-Tax vs. Post-Tax Payments

The primary appeal of a novated lease through Oly.com.au hinges on the concept of paying for car expenses with pre-tax income.

Pre-Tax Advantage: When you pay for expenses with pre-tax dollars, your taxable income is reduced. This means you pay less income tax, potentially moving you into a lower tax bracket. For example, if your annual salary is $90,000 and your novated lease payments and running costs amount to $15,000 annually, your taxable income effectively becomes $75,000. This could result in substantial annual tax savings, particularly for those in higher tax brackets. Oly.com.au frequently showcases examples where users could save tens of thousands of dollars over a 5-year lease for vehicles like the BYD Sealion 7.
GST Savings: Oly.com.au states that customers can also benefit from GST savings on the car’s purchase price and ongoing running costs. This is because the GST is typically claimed by the employer and passed back to the employee, further reducing the overall cost of car ownership.
Operating Costs Inclusion: Unlike traditional car loans where you manage all running costs separately with post-tax money, Oly.com.au integrates these into the novated lease. This can include:
- Fuel/Charging: Estimated based on your annual driving distance.
- Maintenance & Servicing: Scheduled services are covered.
- Tyres: Replacement tyres are typically included in the estimate.
- Registration & CTP Insurance: Annual registration and compulsory third-party insurance.
- Comprehensive Insurance: Arranged as part of the package.
- Roadside Assistance: Often bundled in for convenience.
- Fleet Management Fee: An administrative fee for Oly’s services.

Transparency and Disclaimers

Oly.com.au includes detailed disclaimers, emphasizing that their calculators are illustrative and do not constitute financial advice. They strongly recommend seeking independent financial and taxation advice. This transparency is crucial, as individual circumstances, employer policies, and tax laws can significantly impact the actual benefits. It’s important to understand that while Oly facilitates this, the underlying financial agreement is with a financier, and they are earning commissions on these services, as stated in their terms. Therefore, users should always perform their own due diligence.

The Allure of Electric Vehicles EVs Through Oly.com.au

Oly.com.au places a significant emphasis on electric vehicles EVs as a prime candidate for novated leasing, primarily due to recent Australian government incentives.

They present EVs as a fiscally attractive option, potentially allowing individuals to drive a cutting-edge car at a comparable cost to a much cheaper petrol model.

The Electric Vehicle Discount and FBT Exemption

The core of Oly’s EV offering revolves around the Electric Vehicle Discount, a government initiative designed to encourage EV adoption.

FBT Exemption: For eligible zero or low-emissions vehicles, the Australian government has introduced an exemption from Fringe Benefits Tax FBT. This is a must for novated leases, as FBT would otherwise be payable on the private use of a car provided by an employer. By making eligible EVs FBT-exempt, the financial benefits of salary packaging become even more pronounced.
Eligibility Criteria: Oly.com.au outlines the key criteria for this exemption:
- The vehicle must be an eligible zero or low-emissions vehicle, which includes battery electric vehicles BEVs, plug-in hybrid electric vehicles PHEVs, and hydrogen fuel cell electric vehicles FCEVs.
- The value of the car at the first retail sale must be below the luxury car tax threshold for fuel-efficient vehicles currently $91,387 as of their stated examples. This means ultra-luxury EVs won’t qualify for the full FBT exemption.
- The car must be first held and used on or after 1 July 2022. This targets newer acquisitions.
Plug-in Hybrid Changes from April 2025: Oly.com.au clearly states a significant change: from 1 April 2025, plug-in hybrid electric vehicles will no longer be considered zero or low-emissions vehicles under FBT law. However, existing commitments entered into before this date may still qualify if there’s a financially binding agreement to continue using the vehicle. This is a critical detail for anyone considering a PHEV novated lease with Oly.

Estimated Savings for EV Novated Leases

Oly.com.au provides compelling figures to illustrate the potential savings. For an eligible EV, they claim you can pay for the car and its running costs from a 100% pre-tax salary due to the FBT exemption. Naturalretreats.com Reviews

Example Scenario: While specific figures vary, Oly often uses examples of vehicles like the BYD Seal or GWM Ora, suggesting that the estimated tax savings over a 5-year lease could be substantial, in some cases exceeding $30,000 for a $58,502 car based on a $90,000 annual salary.
Running Costs: Beyond the car’s initial cost, the FBT exemption extends to the running costs of the EV, including electricity for charging, maintenance, tyres, registration, and insurance. This means every dollar spent on keeping your EV on the road can potentially be paid from pre-tax income, maximizing your take-home pay.

Considerations for EV Novated Leases

While the benefits are considerable, potential users should also consider the nuances:

LCT Threshold: The luxury car tax threshold is a strict limit. If the vehicle’s first retail sale value exceeds this, the FBT exemption doesn’t fully apply, reducing the financial advantage.
Reporting on Payment Summaries: Even with FBT exemption, eligible EV novated leases are still required to be reported on employee payment summaries. Oly.com.au advises seeking independent financial and taxation advice on the potential impact this could have on personal circumstances, including government payments or benefits.

The Oly.com.au User Experience and Digital Tools

Oly.com.au places a strong emphasis on providing a user-friendly experience, integrating various digital tools and resources to streamline the novated lease process and empower potential customers.

Calculators: Crunching the Numbers

The website features a suite of calculators designed to give users an immediate, albeit estimated, understanding of potential costs and savings. These include:

Novated Lease Calculator Australia: This is the flagship tool, allowing users to input details like:
- Vehicle details: Year, make, model, and variant.
- Annual driving distance: Crucial for estimating fuel/charging and maintenance costs.
- Lease length: Typically 1 to 5 years.
- Annual salary before tax: The primary input for calculating potential tax savings.
The calculator then provides estimated weekly, fortnightly, and monthly costs, along with a projected tax savings figure over the lease term.

This immediate feedback helps users gauge affordability and benefit.

Novated Lease Compare Calculator: This tool likely allows users to compare the financial outcomes of a novated lease versus traditional car ownership e.g., car loan. While not explicitly detailed, such a tool would highlight the net savings achieved through salary packaging.
Electric Car Calculator: This is specifically tailored to EVs, factoring in the FBT exemption and the unique running costs like electricity. It helps illustrate how an EV might be more affordable through a novated lease than a conventional petrol vehicle, even if the upfront purchase price is higher.
Running Cost Calculator: This calculator helps users understand the projected ongoing costs of a vehicle, separate from the lease payments. It covers fuel/charging, servicing, tyres, registration, and insurance.

The Oly App: On-the-Go Management

Oly.com.au promotes a dedicated mobile application, designed to provide convenience and control for existing novated lease customers.

Expense Claims: A key feature mentioned is the ability to “quickly claim your expenses anytime, anywhere.” This suggests a simplified process for submitting receipts for fuel, maintenance, or other included running costs directly through the app, which is then reconciled against the novated lease budget.
Budget Checking: Users can “check your budget” within the app, allowing them to monitor their allocated funds for various operating expenses and ensure they stay within their financial plan.
Account Management: The app facilitates general account management, providing a centralized hub for lease details and related information.
Benefits of the App: The app is presented as a tool that reduces administrative burden, offering transparency and control. It supports the “It’s easy” claim by Oly, simplifying the ongoing management of a novated lease.

Website Navigation and Content Resources

The overall website design on Oly.com.au appears clean and intuitive, with clear navigation to key sections:

“Shop Cars”: Allows users to browse available car models, including popular EVs like BYD, GWM, Hyundai, Polestar, Tesla, and MG.
“Novated Lease”: Provides detailed explanations on how a novated lease works, its benefits, and specific information on insurance.
“Electric Cars”: Dedicated section on EV benefits, comparisons petrol vs. electric, and the EV Discount.
“FAQs”: A comprehensive section addressing common questions about novated leases.
“Employers”: Information tailored for businesses interested in offering novated leases to their staff.
“Learn from Oly” Blog/Articles: A resource hub with articles covering topics like “Novated lease electric car: everything you need to know before you switch” and “Novated leasing vs buying outright: which is better for you?” These articles contribute to Oly’s positioning as an expert resource.

The integration of educational content, transparent calculators, and a mobile app signifies Oly’s commitment to a digitally-driven, customer-centric approach.

However, as always, the user should test the functionality and clarity of these tools themselves and verify any crucial information with an Oly representative. Zilkee.com Reviews

Oly.com.au for Employers and Small Businesses

While Oly.com.au primarily targets individual employees, a significant part of their value proposition extends to employers, particularly small businesses.

They aim to simplify the process for companies to offer novated leases as an attractive employee benefit, traditionally seen as a perk exclusive to large corporations.

Why Employers Might Consider Oly.com.au

Oly.com.au highlights several benefits for employers:

Employee Attraction and Retention: Offering novated leases can be a powerful tool for attracting and retaining talent. In a competitive job market, non-monetary benefits that offer substantial financial savings to employees can differentiate an employer. It’s presented as a “big company perk without having to work for a big company.”
Reduced Administrative Burden: Oly.com.au claims to “take care of all the admin.” This is a critical selling point for small businesses that may lack the internal resources or expertise to manage complex salary packaging arrangements. Oly handles:
- Setup: Assisting with the initial setup of the novated lease program.
- Payroll Integration: Working with the employer to integrate the deductions into their payroll system.
- Ongoing Management: Managing the lease payments and running cost disbursements.
- Compliance: Ensuring compliance with Australian Tax Office ATO guidelines and FBT regulations.
No Cost to the Employer: Oly.com.au suggests that offering novated leases can be a “bonus without spending a cent” for the employer. This is because the costs are ultimately borne by the employee through salary sacrifice, and Oly typically charges a service fee that is also salary sacrificed by the employee. This makes it an attractive “no-cost benefit” for businesses.
Improved Employee Morale and Productivity: Employees who are financially better off and driving newer, safer vehicles may experience increased morale and potentially improved productivity.

The “Employers” Section on Oly.com.au

The website includes a dedicated “Employers” section, signaling their focus on this segment.

This section would typically contain information such as:

Benefits for Businesses: Elaborating on the points above, detailing how offering novated leases can be a strategic move for workforce management.
Implementation Process: A simplified overview of how an employer can get started with Oly, outlining the steps involved in setting up the program.
Support and Resources: Information on the ongoing support Oly provides to employers, including dedicated account managers or help desks for any queries related to the program.
Compliance Information: While Oly handles much of the complexity, employers still have responsibilities regarding payroll and FBT reporting. The “Employers” section would likely provide guidance or assurances on how Oly assists in meeting these obligations.

Streamlining for Small Businesses

Oly.com.au’s pitch to small businesses is particularly strong because these entities often face limitations in offering extensive employee benefits.

By simplifying the novated lease process, Oly aims to “level the ‘car perk’ playing field,” allowing smaller companies to compete with larger ones in terms of employee benefits.

This democratizes access to a financial tool that was once perceived as exclusive.

The promise of handling all the administrative burden is likely very appealing to small business owners who are often stretched thin managing various aspects of their operations.

Oly.com.au’s Claims, Disclaimers, and Important Considerations

While Oly.com.au presents a compelling case for novated leases, particularly with the added advantage for EVs, it’s crucial to delve into their claims, the necessary disclaimers, and other important considerations before making a decision. Hardloop.de Reviews

Transparency around these aspects is vital for informed choice.

Understanding the “Savings” Claims

Oly.com.au frequently uses phrases like “save heaps,” “thousands of dollars in tax,” and “legendary savings.” These claims are based on the mechanics of salary packaging, where expenses are paid from pre-tax income, thereby reducing taxable income and GST.

Estimated vs. Guaranteed: It’s essential to understand that these figures are estimated tax savings. Oly.com.au explicitly states, “Calculations produced are estimates only that do not take your personal circumstances into account and should not be relied on as an accurate quote or offer of finance.” The actual savings depend on:
- Individual Income & Tax Bracket: Higher income earners in higher tax brackets generally see greater percentage savings.
- Specific Vehicle Costs: The car’s price, running costs, and residual value.
- Lease Term: Longer lease terms typically result in larger total savings.
- Employer Policy: The employer’s willingness to facilitate novated leasing and their specific policies.
Comparison Basis: The savings are typically compared to purchasing a vehicle and paying for running costs using post-tax earnings. This is a fair comparison, as it highlights the direct financial benefit of the salary packaging structure.
Hidden Costs: While Oly aims for transparency, users should be aware of potential fees:
- Finance Establishment Fee: Oly.com.au states, “The amount financed includes a finance establishment fee of $475.00 incl. GST which is charged by the financier.” This is a standard fee in finance but should be factored into the overall cost.
- Annual Vehicle Management Service Fee: An “indicative annual vehicle management service fee of $396.00 incl. GST” is mentioned. This fee covers Oly’s administrative services and is typically included in the salary packaging calculations.
- GST on ECM Contributions: “GST of 1/11th is payable on your ECM Employee Contribution Method contributions.” While input tax credits may be refunded, this is an accounting detail to be aware of.

Important Disclaimers and Recommendations

Oly.com.au includes extensive disclaimers at the bottom of their pages and within calculator sections.

These are not merely legal boilerplate but crucial advice:

“Educational Tool Only”: The calculators are “educational tools only” and “should not be relied on for the purpose of making a decision about a financial product.”
“Not Personal Advice”: “Calculations produced are estimates only that do not take your personal circumstances into account and should not be relied on as an accurate quote or offer of finance.” This is key. A generic example does not equate to personalized financial advice.
“Seek Professional Advice”: Repeatedly, Oly.com.au recommends users “seek professional financial and taxation advice before making any financial decisions regarding a novated lease.” This is perhaps the most critical piece of advice. A qualified financial advisor or tax consultant can assess your specific situation, including your income, existing financial commitments, and future plans, to determine if a novated lease is truly the best option for you.
“Availability of Benefits Subject to Employer’s Approval”: Even if you qualify, your employer must agree to offer and administer the novated lease. This is a non-negotiable prerequisite.
Commission Disclosure: “Oly may pay and/or receive commissions in connection with its services.” This is standard practice in the financial services industry but highlights that Oly is a for-profit entity and its recommendations are tied to its business model.

Additional Considerations for Consumers

Credit Assessment Criteria: Lease products are subject to “credit assessment criteria.” Not everyone will qualify for a novated lease, even if their employer agrees.
End of Lease Residual Value: At the end of the lease, you’ll have a “residual value” a balloon payment that you’ll need to pay to own the car, or you can refinance it or upgrade. This significant payment needs to be planned for. Oly calculates this residual value at 28.13% for a 5-year lease as per ATO guidelines, which is a substantial amount.
Impact on Other Government Payments: While FBT-exempt, EV novated leases are reported on payment summaries. Oly.com.au advises seeking advice on “what impact this could have to their personal circumstances, including government payments.” This is a crucial point for individuals receiving Centrelink benefits or other government assistance.
Commitment: A novated lease is a binding financial commitment for the lease term. Breaking the lease early can incur significant penalties.

In summary, while Oly.com.au offers a streamlined and seemingly attractive pathway to novated leases, especially for EVs, the prospective user must approach it with a clear understanding that the advertised savings are estimates, subject to individual circumstances and requiring independent verification. The disclaimers are not just legal niceties.

They are practical warnings that highlight the need for due diligence and professional financial advice.

Comparing Oly.com.au: Novated Lease vs. Traditional Car Purchase

Understanding how Oly.com.au’s novated lease offering stacks up against simply buying a car outright or via a traditional car loan is crucial for making an informed decision.

Oly actively promotes the “saving heaps” narrative, contrasting it with post-tax purchasing.

Financial Structure Comparison

Traditional Car Purchase Loan or Outright:
- Funding: You secure a personal loan or car loan from a bank/lender, or you pay cash from your savings.
- Payments: Loan repayments are made with post-tax income. You receive your full salary, pay income tax on it, and then use the remaining net income for your car payments.
- Running Costs: Fuel, insurance, registration, servicing, and maintenance are all paid for separately with post-tax income.
- Ownership: You own the car from day one if outright or after the loan is fully repaid.
- Tax Implications: Generally, no direct tax benefits, although depreciation may be claimable for business use complex.
- Interest: Interest on car loans is typically not tax-deductible for personal use.
Novated Lease via Oly.com.au: Padelkiwi.com Reviews
- Funding: Your employer facilitates a lease agreement with a financier, and payments come directly from your salary.
- Payments: Lease payments and all bundled running costs fuel/charging, rego, insurance, servicing, tyres are paid predominantly from pre-tax income through salary sacrifice. This reduces your taxable income.
- Ownership: You don’t own the car during the lease term. You have the right to use it. At the end of the lease, you pay a “residual value” to gain ownership.
- Tax Implications:
  - Reduced Income Tax: Lower taxable income due to pre-tax deductions.
  - GST Savings: GST on the car’s purchase price and running costs can often be claimed by the employer and passed back to you.
  - FBT Fringe Benefits Tax: Historically, FBT was a key consideration. However, for eligible EVs, the FBT exemption significantly enhances the novated lease’s financial appeal, as highlighted by Oly.
- Interest: The finance component within the lease is part of the pre-tax deduction.

Key Advantages of Novated Lease as promoted by Oly

Tax Savings: This is the biggest draw. By paying expenses with pre-tax income, you effectively lower your taxable income, potentially moving into a lower tax bracket and reducing your overall income tax payable. For example, if you’re in the 32.5% tax bracket, paying $100 from pre-tax income saves you $32.50 compared to paying from post-tax income.
GST Savings: Upfront GST savings on the car and ongoing GST savings on running costs further reduce the total cost.
Budgeting Convenience: All car expenses are consolidated into one regular payment taken from your salary, simplifying personal budgeting.
Access to Fleet Pricing: Oly claims to offer “access to pricing that’s usually reserved for the big leagues,” implying you might get a better deal on the car itself.
Reduced Upfront Costs: No large deposit is typically required, making it easier to get into a new car.
Simplified Management: Oly handles the finance, insurance, and ongoing administration, reducing the burden on the individual.

Potential Downsides/Considerations of Novated Lease

No Ownership During Lease: You don’t own the car until the residual value is paid. This means you can’t easily sell it during the lease term.
Residual Value Risk: You are responsible for the residual value at the end of the lease. If the car’s market value has dropped significantly below the residual, you could face a loss. While Oly follows ATO guidelines for residual calculations, market fluctuations are unpredictable.
Employment Dependency: The lease is tied to your employment. If you change jobs, the novated lease agreement typically needs to be restructured, transferred, or settled, which can incur costs.
Limited Choice: While Oly offers a range of cars, your choices might be limited to new vehicles, and you’re tied to the models and deals Oly can facilitate.
Fees and Charges: As mentioned, there are establishment and management fees that, while often salary sacrificed, are still costs associated with the service.
Less Financial Flexibility: Once you’re in a novated lease, it’s a structured agreement that offers less flexibility than owning a car outright.

When a Novated Lease via Oly Might Be Preferred

A novated lease through Oly.com.au is generally more appealing for:

Mid to High-Income Earners: Those in higher tax brackets who can maximize the pre-tax savings.
Individuals Considering a New Car: Especially an eligible EV, due to the FBT exemption.
People Who Value Convenience: The all-inclusive budgeting and administrative support.
Employees Whose Employers Support Novated Leasing: This is a fundamental requirement.
Those Who Regularly Update Their Cars: The lease structure makes it easy to upgrade to a new vehicle every few years.

Ultimately, the choice depends on individual financial circumstances, employment stability, and preference for ownership versus flexible access to a vehicle.

Oly.com.au provides the tools and information to explore the novated lease option, but it’s crucial to compare it comprehensively with other financial strategies.

Customer Support and Contact Options with Oly.com.au

Effective customer support is a cornerstone of any service-based business, especially one dealing with significant financial commitments like car leases.

Oly.com.au provides several avenues for prospective and existing customers to get in touch.

Direct Contact Channels

Oly.com.au makes its primary contact methods readily available on its website, particularly in the “Contact Oly” section:

Phone Number: They provide a direct phone number: 1300 328 182. This suggests an immediate and personal channel for inquiries, quotes, or support.
Operating Hours: Their stated availability is 9 am – 5 pm AEST, Monday – Friday, excluding public holidays. This sets clear expectations for when phone support is accessible.
Contact Form: A detailed online contact form is available for submitting inquiries. This form typically asks for:
- Personal details First name, Last name, Email, Mobile number
- Employer name
- Preferred contact day and time Morning, Lunchtime, Afternoon
- Your new car journey stage Just looking around, Choosing my dream car, Exploring finance options, Ready to drive now
- State of residence
- A free-text field for “What can Oly help you with?” This allows users to articulate their specific needs.
The presence of a contact form suggests a structured approach to managing inquiries, ensuring all necessary information is captured upfront. Buytiktokfollowers.uk Reviews

Promise of Quick Response

Oly.com.au states, “Get in touch and, in most cases, an Oly expert will put together a quote within hours.” This promise of a rapid response time for quotes is a strong selling point, acknowledging that potential customers are often looking for quick estimates to aid their decision-making.

In-App Support for Existing Customers

For existing customers, the Oly app likely plays a role in ongoing support and management:

Expense Claims: As previously discussed, the app allows for easy submission of expense claims. While not direct ‘support’ in the traditional sense, it empowers users to manage their lease efficiently, reducing the need for direct contact for routine tasks.
Budget Checking: The ability to check budgets within the app provides self-service support, allowing users to monitor their finances without needing to call Oly.

Privacy and Data Handling

Crucially, the contact form includes a disclaimer regarding data handling: “By submitting this form, I agree to Oly contacting me about its products, services and offerings.

I understand Oly will collect my personal information and that I can read more about how Oly handles my personal information by reading Oly’s Privacy Statement.” This is standard practice and demonstrates compliance with privacy regulations.

Users should always review the Privacy Statement before submitting personal information.

Overall Impression of Support

The multiple contact channels phone, form, clear operating hours, and the promise of quick quote turnaround suggest that Oly.com.au is structured to provide accessible and responsive customer service.

The existence of an app for ongoing management further streamlines the experience for active leaseholders.

For financial services, direct phone access during business hours is particularly valuable, offering immediate clarity on complex queries.

Regulatory Compliance and Trust Factors for Oly.com.au

When dealing with financial products like novated leases, regulatory compliance and established trust factors are paramount.

Oly.com.au highlights several elements designed to instill confidence in its services. Octagonremovals.co.uk Reviews

Backing by a Trusted Provider

A significant trust factor highlighted by Oly.com.au is that it is “backed by one of Australia’s largest and most trusted novated lease providers – MMS.” This affiliation is crucial for several reasons:

Experience and Expertise: Being backed by an established player like MMS suggests that Oly benefits from years of industry experience, established processes, and deep knowledge of novated leasing. This can translate to smoother operations and reliable service.
Financial Stability: A large and trusted provider typically implies greater financial stability, which is reassuring for customers entering into long-term financial agreements.
Reputation: Leveraging the reputation of a trusted parent or partner organization can immediately boost credibility for a newer or specific brand like Oly.

Australian Tax Office ATO Guidelines

Oly.com.au explicitly states that its calculations and lease structures adhere to ATO guidelines.

This is fundamental for the legitimacy and legality of novated lease benefits.

Residual Value Calculations: “The residual cost is calculated at 28.13% for novated lease as per ATO guidelines.” This indicates that Oly follows the prescribed residual value percentages mandated by the ATO for FBT purposes, ensuring compliance.
PAYG Tax Rates: “PAYG tax rates effective 1 July 2024 have been used” in their calculators. This demonstrates that their financial estimations are based on current and relevant tax legislation, ensuring accuracy in their projections.
FBT Exemption for EVs: Oly.com.au details the conditions under which electric vehicles qualify for FBT exemption, again aligning with ATO rules for zero or low-emissions vehicles. Their proactive mention of the upcoming change for PHEVs from April 2025 further highlights their commitment to staying current with tax law changes.

Financial Disclaimer and Advice

As noted earlier, Oly.com.au includes robust disclaimers recommending users seek independent financial and taxation advice.

While this serves a legal purpose, it also signifies a responsible approach:

Transparency: Acknowledging that their tools are illustrative and not personalized advice builds trust by managing expectations.
Professional Responsibility: Encouraging independent advice is a hallmark of ethical financial service providers. It shows they understand the complexity of financial decisions and the importance of tailored guidance.

Security and Privacy

While not explicitly detailed on the provided homepage text, a reputable online financial service provider like Oly.com.au would be expected to adhere to strong data security and privacy protocols.

Their mention of reviewing their “Privacy Statement” before submitting personal information indicates their commitment to data protection. Users should always check for:

SSL Encryption: Ensuring the website uses HTTPS for secure communication.
Privacy Policy: A comprehensive policy outlining how personal data is collected, stored, used, and shared.
Data Handling Practices: Information on how they protect sensitive financial and personal information.

Industry Affiliations and Regulation

While not explicitly listed on the provided text, typically, novated lease providers in Australia operate under relevant financial services licenses and are subject to regulation by bodies such as the Australian Securities and Investments Commission ASIC. The backing by a “trusted novated lease provider” likely implies adherence to these broader industry standards and regulatory frameworks.

In essence, Oly.com.au leverages its association with a reputable parent company, openly aligns itself with ATO regulations, and maintains transparency through disclaimers.

These factors collectively contribute to building a foundation of trust for potential customers. Exetel.com.au Reviews

Oly.com.au’s Approach to the Entire Car Journey

Oly.com.au aims to be more than just a lease provider.

They position themselves as a partner throughout the entire “new car journey,” from initial exploration to ongoing vehicle management.

This comprehensive approach differentiates them from simple loan providers or car dealerships.

From “Just Looking Around” to “Ready to Drive Now”

The contact form on Oly.com.au directly asks about the user’s stage in their new car journey, offering options like:

Just looking around: This suggests Oly is prepared to engage with individuals in the early stages of consideration, providing educational content and basic information without immediate pressure.
Choosing my dream car: For those who have a general idea but need help narrowing down options or understanding the financial implications of different models.
Exploring finance options: Catering to users who know what car they want but are weighing up various financing methods, with novated leasing as a key alternative.
Ready to drive now: For those who are poised to make a decision and want to accelerate the process.

This staged approach indicates that Oly understands the customer’s decision-making process can be lengthy and nuanced, offering relevant support at each step.

Car Sourcing and Access to Pricing

Oly.com.au claims to be an “industry insider,” offering “access to pricing that’s usually reserved for the big leagues.” This implies they can assist in finding the desired car and potentially negotiate better prices on behalf of the customer.

“Shop Cars” Feature: The website allows users to browse cars by brand BYD, GWM, Hyundai, Polestar, Tesla, MG, indicating a curated selection of popular models often suited for novated leasing. This simplifies the car search for customers.
Negotiation Power: By dealing with fleet suppliers or having established relationships with dealerships, Oly might be able to secure more competitive pricing than an individual buyer, enhancing the overall value proposition.

Bundling of Services Beyond the Lease

A core aspect of Oly’s “full journey” approach is the comprehensive bundling of services:

Finance and Insurance: Oly handles “gets the finance and insurance sorted.” This removes the burden from the individual of independently researching, applying for, and managing these crucial elements.
Automatic Salary Payments: They “figures out the automatic payment from your salary with your boss,” ensuring seamless integration with payroll.
Ongoing Management: The “Oly’s handy app even lets you check your budget and submit claims on the run.” This means post-acquisition, Oly continues to support the operational aspects of the car. They manage the payment of running costs, receipt processing, and budget tracking, simplifying the ongoing ownership experience.
End-of-Lease Support: While not explicitly detailed in the provided text, a comprehensive novated lease provider typically offers guidance and options at the end of the lease term, whether it’s trading up, buying out the residual, or refinancing. This completes the cycle of the “car journey.”

Educational Resources

The “Learn from Oly” section blog/articles provides educational content relevant to the entire car ownership lifecycle, including:

“Novated lease electric car: everything you need to know before you switch”: Guiding users through the complexities of EV novated leases.
“Novated leasing vs buying outright: which is better for you?”: Helping users understand the fundamental differences in car acquisition methods.

This educational focus helps inform customers at various stages of their decision-making process, from initial research to detailed comparison.

By offering this end-to-end support, from the first thought of a new car to driving it and managing its ongoing costs, Oly.com.au aims to be a single point of contact for a streamlined and simplified car acquisition experience. Rebelsfunding.com Reviews

Frequently Asked Questions

What is Oly.com.au?

Based on checking the website, Oly.com.au is an Australian platform that facilitates novated leases for new cars, aiming to provide tax-effective and convenient car acquisition for employees by bundling car payments and running costs from their pre-tax salary.

What is a novated lease?

A novated lease is a three-way agreement between an employee, their employer, and a financier.

It allows an employee to pay for a car and its running costs like fuel, insurance, servicing directly from their pre-tax salary, which can reduce taxable income and lead to significant tax savings.

How does a novated lease with Oly.com.au save me money?

A novated lease with Oly.com.au can save you money primarily by allowing you to pay for your car and its running costs from your pre-tax salary.

This reduces your taxable income, leading to lower income tax payments.

Additionally, you may benefit from GST savings on the car’s purchase price and ongoing running costs.

Does Oly.com.au provide financial advice?

No, Oly.com.au explicitly states that its calculators and information are for illustrative and educational purposes only and do not constitute personal financial or taxation advice.

They strongly recommend seeking independent professional financial and taxation advice before making any decisions.

Can I get an electric vehicle EV through Oly.com.au?

Yes, Oly.com.au places a strong emphasis on electric vehicles EVs and offers novated lease options for eligible zero or low-emissions vehicles, leveraging the Australian government’s FBT exemption for these cars.

How does the Electric Vehicle Discount work with Oly.com.au?

The Electric Vehicle Discount, as facilitated by Oly.com.au, allows eligible EVs to be exempt from Fringe Benefits Tax FBT when acquired via a novated lease. Hfe-signs.co.uk Reviews

This means you can pay for the car and its running costs entirely from your pre-tax salary, significantly boosting your tax savings.

What are the eligibility criteria for the EV FBT exemption with Oly.com.au?

According to Oly.com.au, the EV FBT exemption generally applies if the car is an eligible zero or low-emissions vehicle, its first retail sale value is below the luxury car tax threshold for fuel-efficient vehicles currently $91,387, and it was first held and used on or after 1 July 2022.

Are plug-in hybrid electric vehicles PHEVs still FBT-exempt through Oly.com.au?

From 1 April 2025, plug-in hybrid electric vehicles will generally no longer be considered zero or low-emissions vehicles under FBT law.

However, Oly.com.au notes that existing binding commitments for PHEVs entered into before this date may still qualify for the exemption.

What costs are included in an Oly.com.au novated lease?

An Oly.com.au novated lease typically bundles car payments, fuel/charging, registration, comprehensive insurance, tyres, and servicing into one payment.

It may also include an annual vehicle management service fee and a finance establishment fee.

How do I get a quote from Oly.com.au?

You can get a quote by using their online calculators or by filling out their contact form on the website.

Oly.com.au states that in most cases, an expert will provide a quote within hours.

What is the Oly app for?

The Oly app is designed for existing customers to manage their novated lease on the go.

It allows you to check your budget, submit expense claims e.g., for fuel receipts, and manage your account conveniently. Nobalifestyle.com Reviews

Does my employer need to approve a novated lease with Oly.com.au?

Yes, the availability of benefits from a novated lease is always subject to your employer’s approval.

Your employer must agree to offer and administer the novated lease program.

What happens if I change jobs during my Oly.com.au novated lease?

If you change jobs, the novated lease agreement typically needs to be restructured, transferred to your new employer if they agree, or settled by paying out the residual value and remaining lease payments. This can incur additional costs.

Is there a deposit required for an Oly.com.au novated lease?

Oly.com.au suggests that a key benefit is upfront GST savings on the car and running costs “without the need for a deposit,” making it easier to get into a new car.

What is the residual value at the end of an Oly.com.au novated lease?

The residual value is the estimated value of the car at the end of the lease term, which you must pay to gain ownership of the vehicle.

Oly.com.au states this is calculated at 28.13% for a 5-year novated lease, as per ATO guidelines.

Can I choose any car with Oly.com.au?

Oly.com.au offers a range of new cars from various manufacturers, including BYD, GWM, Hyundai, Polestar, Tesla, and MG.

They position themselves as being able to access competitive pricing, implying a focus on specific models and new vehicles.

Are the tax savings guaranteed with Oly.com.au?

No, the tax savings presented by Oly.com.au are estimated and indicative.

Actual savings depend on your individual income, tax bracket, specific vehicle costs, and other personal circumstances, and are not guaranteed. Zerossl.com Reviews

Does Oly.com.au assist small businesses?

Yes, Oly.com.au actively targets small businesses, aiming to make novated leases available to their staff as a cost-free employee perk, handling the administrative burden for the employer.

What are Oly.com.au’s operating hours?

Oly.com.au’s phone support is available from 9 am to 5 pm AEST, Monday to Friday, excluding public holidays.

How does Oly.com.au handle my personal information?

When submitting information through their contact forms, Oly.com.au states that they collect your personal information and that you can read more about how they handle it by reviewing their Privacy Statement.

This indicates adherence to standard privacy practices.

Oly.com.au Reviews