HR Glossary

What is Novated Lease (Australia)?

A three-way car lease agreement in Australia between an employee, their employer, and a finance company, where lease payments and running costs are paid from the employee's pre-tax salary through salary packaging.

Why it matters in hiring

Novated Lease (Australia) comes up whenever teams compare candidates, set policy or report on people data. Getting the definition right keeps decisions consistent, which is the same reason springhire scores every applicant against the same criteria rather than on impression.

Related terms starting with N

• National Service Leave (Singapore)
• Natural Language Processing in HR
• Neurodiversity
• Network Organization

Part of the springhire HR glossary, 1,150+ HR, payroll and recruiting terms defined. Free, no signup.