Associate Lease Agreement – Salary Sacrifice Arrangements
An Associate Lease Agreement may form part of a salary package (or ‘salary sacrifice’) – a popular method for tax minimisation.
The Associate Lease includes three parties: an employee, an associate of the employee and the employer. In this situation the associate (often a family member , spouse or family company) is the owner of a motor vehicle, which is to be leased to the employer who will then provide the vehicle to the employee as a company vehicle, and be responsible for its maintenance as such.
Diagram outlines how an Associate Lease operates.
When to Use this Agreement
Implementing the Associate Lease allows the arrangement to be recognised by the tax office as an employer-provided benefit under the Fringe Benefits and Income Tax Assessment Acts.
Your professionally drafted, easy to use associate lease agreement is available for immediate download. The document comes to you as a Microsoft Word template that can be used as often as you like. Simply insert the correct information in the appropriate field and tab to the next. Now print your professional agreement!
This Associate Lease Contract Template includes the following provisions –
- Parties
- Motor vehicle
- Term
- Maintenance Costs
- Insurance
- Events Constituting Lessee’s Default
- Termination
- Notices
- Applicable law
Simple, straightforward, money and time saving process.
Jim C. Malaga WA
Associate Lease Agreement Template Excerpt
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