Geely · hatch

Geely EX2 novated lease and the FBT cliff

908days left to commit,
under the draft
Last day: 31 March 2029

Treasury draft · not law yet

Electric carVariant

Car’s value for FBT ($, incl. GST)Maker's list price before on-road costs. Add dealer delivery and any options you choose.

Salary ($ a year)Before tax and packaging, from $45,000.Lease term

How the estimate works

Without a concession, FBT’s statutory formula makes 20% of the car’s value taxable each year.
Novated leases clear that by moving the same amount from pre-tax to after-tax pay.
The saving is the 2026–27 income tax and Medicare levy you avoid on that amount.

Tax the exemption saves

$1,700 a year

Full exemption to 31 Mar 2029 under the draft. Estimate only. General information, not tax advice.

Breakdown

Under $75,000Geely EX2 Complete

Under the draft, the full exemption lasts for commitments until 31 March 2029.

$1,700 a year

Estimated tax the exemption saves you compared with a car that gets no FBT concession. Commit from 1 April 2029 and that drops to $420 a year: $3,810 less over a 3-year lease.

908 days left to commit by 31 March 2029

$26,490

$25,000$75,000$91,661$125,000+

Up to $75,000: full exemption for commitments until 31 Mar 2029$75,001 to $91,661: full exemption only if you commit by 31 Mar 2027Over $91,661: no FBT concession

Estimated tax effect by when you commit to the lease

If you commit	DiscountFBT discount	Saved a yearTax saved a year
By 31 Mar 2027	100%	$1,700
Apr 2027 – Mar 2029	100%	$1,700
From Apr 2029	25%	$420

Reportable fringe benefits: about $10,000 a year would appear on your income statement if you commit by 31 March 2027. It isn’t taxed, but income tests such as HELP repayments and the Medicare levy surcharge count it.

Estimate only. General information, not tax advice. It uses 2026–27 tax rates and the FBT statutory formula, and assumes you pay an after-tax contribution to clear any FBT. The rules for commitments from 1 April 2027 are a Treasury exposure draft, not law, and may change. Confirm your numbers with your employer, your novated lease provider or a registered tax agent.

Updated 3 Oct 2026 · every figure links to its source · Some links are referral links; that never changes the order.

Every Geely EX2 is under $75,000: full FBT exemption on a novated lease committed to by 31 March 2029, under the Treasury draft.

$25,000$75,000$91,661$125,000+

Up to $75,000: full exemption for commitments until 31 Mar 2029$75,001 to $91,661: full exemption only if you commit by 31 Mar 2027Over $91,661: no FBT concession

What to know about the Geely EX2

The EX2 is Geely's small electric hatch, and at $26,490 for the Complete and $30,990 for the Inspire before on-road costs it is one of the three cheapest models on this site, with the BYD Atto 1 and Dolphin.

Geely quotes 252 km for the Complete and 345 km for the Inspire, so the dearer version buys a great deal more range for its extra four and a half thousand dollars. As with every car at this price, the exemption is worth having but small in dollars, and a provider's fixed fees swallow a larger share of it than they would on a family SUV.

Choosing between the EX2 Inspire and BYD's Atto 2 Dynamic, you are looking at two cars a thousand dollars apart that are treated identically for FBT. Let the test drive and the lease quotes settle it. The Complete's quoted 252 km is among the shortest ranges on this site, ahead only of the Atto 1 Essential, so check it against your longest regular trip before choosing it for the tax saving alone.

Geely EX2 variants against the lines

Geely EX2 at a $100,000 salary

Variant	Maker's price	Where it sits	By 31 Mar 2027	Apr 2027 – Mar 2029	From Apr 2029	Price source
Complete	$26,490before on-roads	Under $75,000	$1,700	$1,700	$420	Geely, 3 Oct 2026
Inspire	$30,990before on-roads	Under $75,000	$1,980	$1,980	$500	Geely, 3 Oct 2026

Estimated income tax and Medicare levy saved each year compared with a car that gets no FBT concession. “Close” means within $3,000 of a line, where dealer delivery, options or on-road costs can move the car across it.

Tax saved a year on the Complete, by salary

Complete, $26,490

Salary	By 31 Mar 2027	Apr 2027 – Mar 2029	From Apr 2029	Missing the deadline, 3-year lease
$60,000	$1,770	$1,770	$440	$3,990
$90,000	$1,700	$1,700	$420	$3,810
$120,000	$1,700	$1,700	$420	$3,810
$160,000	$2,070	$2,070	$520	$4,650
$220,000	$2,490	$2,490	$620	$5,600

The last column is the extra tax over a three-year lease from committing just after 31 March 2029 instead of just before. Salaries between $45,000 and $66,667 can show a slightly bigger figure than higher ones, because the low income tax offset phases out across that range.

About these prices

1,753 Geely EX2s were sold in Australia from January to August 2026. (CarExpert Sales Atlas, VFACTS and EV Council data, checked 3 October 2026)
Geely's configurator lists a $900 dealer delivery fee separately from this price. (Geely Australia, checked 3 October 2026)
Prices are the maker’s own: before on-road costs. The value FBT uses includes dealer delivery and options but not registration, stamp duty or CTP.

Getting a quote for a Geely EX2

Check that your employer offers novated leasing, then ask a provider to quote the exact car, with delivery and options, and to confirm the date your commitment becomes binding. These providers offer novated leases; we list them alphabetically and don’t rank them.

Carbar (opens in a new tab) Referral link: we may earn a commission. It never changes the order.
Maxxia (opens in a new tab) Referral link: we may earn a commission. It never changes the order.
Oly (opens in a new tab) Referral link: we may earn a commission. It never changes the order.
RemServ (opens in a new tab) Referral link: we may earn a commission. It never changes the order.
Smart (opens in a new tab) Referral link: we may earn a commission. It never changes the order.

We compare only the 5 providers listed here, not the whole market.