Hyundai · SUV

Hyundai Elexio 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

$3,780 a year

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

Breakdown

Under $75,000Hyundai Elexio FWD

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

$3,780 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 $940 a year: $8,490 less over a 3-year lease.

908 days left to commit by 31 March 2029

$58,990

$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%	$3,780
Apr 2027 – Mar 2029	100%	$3,780
From Apr 2029	25%	$940

Reportable fringe benefits: about $22,260 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 Hyundai Elexio 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 Hyundai Elexio

The Elexio is a mid-size Hyundai electric SUV, and both versions carry a large 88.1 kWh battery: Hyundai quotes 562 km for the FWD at $58,990 and 546 km for the Elite FWD at $61,990, before on-road costs. That leaves well over ten thousand dollars between the dearer Elite and the $75,000 line.

Hyundai ran national drive-away offers on the Elexio for cars delivered by 31 December 2026 that came in below its list price plus on-road costs; we show the list price, because the offer depends on stock and timing. If you lease through an offer, the lower price also cuts the reportable amount on your income statement. Against a Kia EV5 at a similar price, the Elexio's bigger battery is the main difference; the FBT position is the same. Its two versions are three thousand dollars apart with almost the same quoted range, so the FWD is the value pick for a lease.

Hyundai Elexio variants against the lines

Hyundai Elexio 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
FWD	$58,990before on-roads	Under $75,000	$3,780	$3,780	$940	Hyundai, 3 Oct 2026
Elite FWD	$61,990before on-roads	Under $75,000	$3,970	$3,970	$990	Hyundai, 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 FWD, by salary

FWD, $58,990

Salary	By 31 Mar 2027	Apr 2027 – Mar 2029	From Apr 2029	Missing the deadline, 3-year lease
$60,000	$3,950	$3,950	$990	$8,890
$90,000	$3,780	$3,780	$940	$8,490
$120,000	$3,780	$3,780	$940	$8,490
$160,000	$4,600	$4,600	$1,150	$10,350
$220,000	$5,550	$5,550	$1,390	$12,480

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

797 Hyundai Elexios were sold in Australia from January to August 2026. (CarExpert Sales Atlas, VFACTS and EV Council data, checked 3 October 2026)
Hyundai's list price; its national drive-away offer for cars delivered by 31 December 2026 is not included. (Hyundai 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 Hyundai Elexio

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.