Kia EV9 Novated Lease — Cost Summary (Australia, March 2026)
Item
Detail
Vehicle Kia EV9 Air MY26 (only FBT-exempt variant)
Lease term 5 years (lock in before FBT exemption review mid-2027)
Provider Smart (~8.3–8.4% effective interest rate)
Pre-tax fortnightly deduction
~$690–$770
Annual take-home pay reduction
~$9,200–$10,800
5-year saving vs private purchase
~$70,000–$85,000
Variant
Drivetrain
Battery
Range
RRP
Air
RWD
76.1 kWh
443 km
$97,000
Earth
AWD
99.8 kWh
521 km
$106,500
GT-Line
AWD
99.8 kWh
505 km
$121,000
GT
AWD
99.8 kWh
510 km
$129,250
Why Novated Lease Price ($82K–$105K) Is Lower Than Private ($97K–$129K)
GST removed (~10%) — leasing company claims back GST (max ~$6,334 saving)Fleet/manufacturer discounts — bulk purchasing powerKia specifically discounts EV9 Air below the LCT threshold ($91,387) for novated buyers
FBT Exemption — Only the Air Qualifies
Variant
After Fleet Discount
Under LCT $91,387?
FBT Exempt?
Air ~$82K–$85K
Yes Yes
Earth
~$95K+
No
No
GT-Line
~$105K+
No
No
GT
~$115K+
No
No
Cost Estimate — EV9 Air on $180,490 Salary At $180,490 gross, salary sacrifice reduces income from the top down:
First ~$490 at 45% + 2% = 47%
Remaining sacrifice at 37% + 2% = 39%
Effective blended saving rate: ~39%
Without Lease
With Lease
Gross salary
$180,490
$180,490
Pre-tax lease deduction
$0
~$18,000–$20,000
Taxable income
$180,490
~$160,490–$162,490
Tax + Medicare (est.)
~$51,667
~$44,267–$44,867
Tax saving from sacrifice
—
~$6,800–$7,400
Take-home pay
~$128,823
~$118,023–$119,623
Net reduction in take-home —
~$9,200–$10,800/yr
You "lose" ~$9,200–$10,800/yr from take-home — but get a brand new EV9 with ALL running costs covered.
Method
Effective After-Tax Cost
Novated lease (Air, FBT exempt) ~$80,000–$86,000
Private purchase (car loan @ 7%)
~$155,000–$165,000
Estimated saving ~$70,000–$85,000
Novated total includes ~$25K residual payment at lease end
Interest Rates (from r/AustralianEV)
Provider
Effective Rate
Notes
Smart Leasing ~8.3–8.4% Best reported rate, multiple users confirm
Kooya (Perth)
~9.5%
OP's quote, advised to negotiate
Maxxia 15%+ Opaque quotes, reverse-calculated — avoid
Tip: Ask Smart for the effective interest rate (not flat rate). If quoted above ~8.5%, negotiate.
Provider
Highlight
Smart
Largest, govt/health sector, smart.com.au
Maxxia
Major provider but high rates reported (15%+)
SG Fleet
Strong with large orgs
Leaselab
Transparent pricing, lists EV9 Air from $301/week
Easi
Australian-owned, 25+ years
Government reviewing FBT exemption (report due mid-2027) — locking in now secures current benefit
PHEVs lost FBT exemption 1 April 2025 — only pure BEVs qualify
LCT = Luxury Car Tax threshold ($91,387 for fuel-efficient vehicles FY 2025/26)
These are estimates — get a personalised quote from your provider
Research compiled March 2026
