Hyundai · SUV

Hyundai Ioniq 5 novated lease and the FBT cliff

177days left to commit,
for the dearer variants
Last day: 31 March 2027

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.

Commit by 31 March 2027

$12,050 more tax

Estimated, if you commit after 31 Mar 2027 under the draft. Estimate only. General information, not tax advice.

Breakdown

$75,000 to $91,661Hyundai Ioniq 5 Premium N Line AWD

Commit by 31 March 2027 to keep the full exemption.

$12,050

Estimated extra tax over a 3-year lease if you commit from 1 April 2027 instead, when the draft cuts the exemption to a 25% discount ($4,020 a year).

177 days left to commit by 31 March 2027

$83,700

$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%	$5,360
Apr 2027 – Mar 2029	25%	$1,340
From Apr 2029	25%	$1,340

Reportable fringe benefits: about $31,590 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.

The RWD and Elite RWD are under $75,000 and keep the full exemption until 31 March 2029 under the draft. The Premium N Line AWD sits between $75,000 and $91,661: full exemption only if you commit by 31 March 2027, then a 25% discount.

$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 Ioniq 5

The Ioniq 5 straddles the $75,000 line in an awkward way. The base car at $68,200 and the Elite at $73,200 are both under it on Hyundai's list prices, but the Elite has less than two thousand dollars of room, which dealer delivery and an option or two can use up. The Premium N Line, at $83,700, is between the lines.

So for an Elite buyer the decision is about paperwork as much as tax: get the dealer's itemised price without registration and stamp duty, and if it is over $75,000, treat the car like the N Line and sign before April 2027. All three use an 84 kWh battery, with the base car quoting the longest range at 570 km. Hyundai's October to December offers priced the Elite below its list price plus on-road costs, which would also bring its value down.

Hyundai Ioniq 5 variants against the lines

Hyundai Ioniq 5 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
RWD	$68,200before on-roads	Under $75,000	$4,360	$4,360	$1,090	Hyundai, 3 Oct 2026
Elite RWD	$73,200before on-roads	Under $75,000 · close	$4,680	$4,680	$1,170	Hyundai, 3 Oct 2026
Premium N Line AWD	$83,700before on-roads	$75,000 to $91,661	$5,360	$1,340	$1,340	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 Premium N Line AWD, by salary

Premium N Line AWD, $83,700

Salary	By 31 Mar 2027	Apr 2027 – Mar 2029	From Apr 2029	Missing the deadline, 3-year lease
$60,000	$5,410	$1,200	$1,200	$12,620
$90,000	$5,360	$1,340	$1,340	$12,050
$120,000	$5,360	$1,340	$1,340	$12,050
$160,000	$6,530	$1,630	$1,630	$14,690
$220,000	$7,870	$1,970	$1,970	$17,700

The last column is the extra tax over a three-year lease from committing just after 31 March 2027 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

354 Hyundai Ioniq 5s 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 Ioniq 5

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.