Is BYO finance actually allowed under my salary package?

Yes. Salary packaging rules govern how the lease is administered, not who provides the finance. Administrators package externally-financed leases routinely.

Is a self-managed novated lease the same as BYO finance?

Yes. Self-managed, BYO (bring your own) finance, finance-only, employee-arranged and externally financed all describe the same arrangement: you source the finance on the car and your existing salary packaging administrator continues to run the deductions. The business that arranges that finance for you is sometimes called a third party introducer — that is the role millarX plays, as a credit assistance provider under its own Australian credit licence. Providers differ over which word they use, so being told they do not offer one of them is often a vocabulary mismatch rather than a policy. If one term is not recognised, ask again using another.

Do ATO employees need a special deed of novation for a novated lease?

Yes. The Australian Taxation Office uses its own form of deed of novation rather than a financier’s standard one, and the finance company has to sign the ATO’s agreement for the lease to proceed. Check that your financier will sign it before you commit.

Why is the BYO finance rate for ATO employees higher than millarX’s headline rate?

Not every lender will sign the ATO’s deed of novation, including millarX’s lowest-rate lender. ATO leases are financed by a panel lender that does, so the rate is slightly higher — up to 0.70% p.a. above the headline rate. The exact rate is on your quote before you commit, with no commission added.

Will my administrator push back?

It's business as usual for them — we hand over the documents in the format they expect, and we deal with them directly so you don't have to.

Does anything change for payroll?

No. Your pre-tax deductions, running-cost budgets and reporting all continue through your administrator exactly as before.

What if I leave Australian Taxation Office?

Same as any novated lease — the finance travels with you. You can re-novate with a new employer or continue repayments directly.

I work part-time / casual — does this still work?

If you're eligible for salary packaging with your employer, you're eligible to BYO the finance. The saving works the same way.

Where does the saving come from?

The finance bundled into a novated quote usually carries a margin on top of the lender's rate. BYO replaces that finance with a transparent millarX loan on the same car and the same term — the management side of the lease is untouched.

Can Australian Taxation Office employees bring their own novated lease finance?

Yes, with conditions

Yes, subject to specific requirements. Australian Taxation Office's salary packaging arrangement accepts external finance, but it sets conditions on how — the detail below sets out what we know of them, and your employer confirms how they apply to you.

What this is based on:

Australian Taxation Office — confirmed to millarX — The ATO accepts externally arranged (BYO) finance for a novated lease, provided the lease is novated on the ATO’s own deed of novation and the financier signs it. millarX has finance approved on the ATO’s deed.

Last verified October 2026. Arrangements change, and they can differ between agencies and business units — your employer confirms what applies to you.

Australian Taxation Office employees can keep their existing salary packaging administrator and replace only the finance portion of a novated lease with a millarX loan — payroll deductions, running-cost budgets and the administrator all stay the same.

What you need to do

Ask Australian Taxation Office payroll the question below — One email settles it. We have written it for you — it names no provider, so it is a neutral question about your own arrangement rather than a request to use anyone in particular.
Get a finance quote to compare — Price the car you are actually looking at. You need a real number to put next to the bundled quote — the difference is almost entirely in the interest rate, and that is the part the bundled quote does not itemise.
Hand the approval to your salary packaging administrator — They need written finance approval, the dealer invoice and the lease schedule. We send all three in the format administrators file without asking twice, and we chase what is outstanding rather than leaving it with you.
Everything else stays as it is — your salary packaging administrator continues to run your payroll deductions, running-cost budgets and FBT reporting exactly as before. Nobody at work has to do anything differently.

The question to send payroll

Copy this as it is. It names no finance provider, so it asks about your own arrangement rather than requesting anyone in particular.

I'm looking at taking out a novated lease. Could you confirm whether I'm able to arrange the finance on the vehicle myself — sometimes called a self-managed or BYO finance novated lease — and have our salary packaging provider administer it, rather than using the financier bundled into the quote? If that's possible, what does our salary packaging provider need from the financier to set it up?

The arrangement you are asking for is called a self-managed novated lease. If you want the detail first, how it works, step by step.

See what it is worth before you commit

Upload the bundled quote you are holding and we will line up every contracted dollar against an externally financed lease. No email needed to see the result. Compare my quote.

The swap that could save you thousands

The loan hiding inside your Australian Taxation Office lease carries a quiet markup. Swap it for a millarX loan — that's it. Nothing else changes, nobody at work does anything differently, and the difference stays in your pocket.

A novated lease is two things. You only need to change one of them.

Every novated lease is finance (the loan on the car) plus management (payroll deductions, budgets, running costs). Your Australian Taxation Office administrator handles the management brilliantly — but the bundled finance usually carries a hidden margin. BYO swaps just that part.

Your journey, step by step

Quote — MILLARX
Finance approval — MILLARX
Finance settlement — MILLARX
Car collection — YOU
Paperwork to salary packager — MILLARX HELPS. Our automated system guides you through it
Ongoing management — PACKAGER

millarX handles

The vehicle finance & competitive rate
Setting up the lease paperwork
Getting the deal packaged & handed to your salary packager
Re-finance and payouts down the track

Your salary packager handles

Running-cost budgets (fuel/charging, insurance, servicing, rego, tyres)
Your claims & reimbursements
Pre-tax / post-tax payroll deductions with your employer
Ongoing account management & support

Your employer appoints the salary packaging administrator, and whoever it is keeps managing the deductions. Your payslip or HR intranet will name them.

What your salary packager asks for — and how we make it easy

A BYO lease asks your administrator for the same paperwork any novated lease does. The difference is who chases it. Here is every item they'll want, and what happens on our side of it.

Written confirmation your finance is approved: We send the formal approval — lender, amount, term, residual — the day it comes through, in the format administrators file without asking twice.
The dealer quote or tax invoice for the car: We check the invoice is made out correctly before it goes anywhere, then forward it. A wrong purchaser or GST treatment is the single most common cause of a delayed settlement.
The lease documents and lease schedule: millarX prepares and settles the lease, so the schedule showing rate, term, residual and repayment already exists when they ask for it.
A deed of novation for you and your employer to sign: The administrator issues it. We complete the finance side, explain the two pages that matter, and chase the signatures — the employer execution is arranged through your administrator, not by you.
The exact repayment and start date, to set your payroll deduction: We confirm both in writing and time settlement so your first deduction lands on a full pay cycle rather than a part one.
A comprehensive insurance certificate noting the financier: We give you the exact wording your insurer needs to record millarX as the interested party, so it is right the first time.
Your running-cost budget — kms, fuel or charging, servicing, tyres, rego: This one stays entirely with your administrator. BYO changes the finance only, so the budget you set with them is untouched.

Can Australian Taxation Office employees bring their own novated lease finance?

Yes. Australian Taxation Office employees can use externally arranged (BYO) finance for a novated lease, with one condition: the lease has to be novated using the ATO’s own deed of novation, so the finance company must be willing to sign the ATO’s agreement. Not every financier will. millarX has finance approved on the ATO’s deed and prepares it for you, so the condition is handled rather than left for you to chase.

The ATO says yes to BYO finance. The catch is the paperwork — and which lenders will sign it.

Most employers accept a standard deed of novation, and any novated lease financier can sign it. The ATO uses its own form of agreement instead. A BYO lease at the ATO only proceeds once the financier has signed that agreement, which means the first question is not whether the ATO allows BYO finance — it does — but whether your financier will sign the ATO’s deed.

Make sure your financier will sign the ATO’s agreement

Some finance companies will only sign their own standard deed. If you arrange finance with one of them, the lease stalls at novation, after the car has been chosen and the quote accepted. Ask any financier, before you commit, whether they will execute the ATO’s deed of novation as issued.

millarX has this approved. We place ATO leases with a lender on our panel that signs the ATO’s agreement, prepare the deed with you, and deal with the paperwork so it does not come back to you.

What it means for your rate

Our lowest-rate lender cannot sign the ATO’s deed, so ATO leases are financed by a panel lender that can. That puts the rate slightly above our headline rate — within our published panel range, up to 0.70% p.a. higher. We tell you the exact rate on your quote before you commit, and the same rule applies as everywhere else: no commission is added on top.

Even at the upper end of our panel, the finance on its own is often sharper than the rate inside a bundled novated quote. The way to know is to compare the finance component directly.

Compare the finance in your quote

Your salary packaging, pre-tax deductions and running-cost budgets carry on through your existing administrator exactly as they would on any other novated lease. Only the finance changes.

Before you accept finance from anyone for an ATO novated lease, ask them:

“Will you sign the Australian Taxation Office’s own deed of novation, as issued, for this lease?”

If the answer is no or not sure, the lease is likely to stall at novation. Send us your quote and we will price the finance on a lender that signs it.

Already holding a bundled quote? Prove it against ours.

Drop the quote in and we'll line up every contracted dollar against a millarX BYO lease — in plain English, no email needed to see the result. Compare your quote.

People who BYO'd and kept the difference

I cannot speak highly enough of the team at MillarX, and the founder Ben. Like a lot of people, I was locked into a particular novated leasing company as dictated by my employer. The car finance portion of the contract they offered did not look competitive compared to other options. I thought that I just had to accept it and look at the savings in income tax as a bonus to offset the fact the finance portion of the arrangement was not as sharp as some other lenders. A work friend put me on to MillarX, and all the info they have on their website about BYO finance. The staff I spoke to at the novated leasing company were either willfully opaque or perhaps just woefully ill informed, but three different people I spoke to made it sound like that was NOT an option, but Ben explained it all to me and once I understood, I had the confidence to call back and insist I speak with someone about the BYO finance option. Ben saved us over $10k in repayments on the car loan over 5 years!! Ben is very patient, transparent and aims to make you feel informed and empowered to make smart choices. Do not accept a terrible interest rate out of the gate from a novated leasing company — find out if you can BYO finance, and make sure you contact Ben for a quote.
Fleur Bedford — 5-star Google review

GOATed novated leasing experience. Full transparency, no pushy sales tactics, and reasonable rates. Can't thank the team enough for sorting out my NL in 2 business days. Incredible.
Hudson Yao — 5-star Google review

Fair questions

Is BYO finance actually allowed under my salary package?: Yes. Salary packaging rules govern how the lease is administered, not who provides the finance. Administrators package externally-financed leases routinely.
Is a self-managed novated lease the same as BYO finance?: Yes. Self-managed, BYO (bring your own) finance, finance-only, employee-arranged and externally financed all describe the same arrangement: you source the finance on the car and your existing salary packaging administrator continues to run the deductions. The business that arranges that finance for you is sometimes called a third party introducer — that is the role millarX plays, as a credit assistance provider under its own Australian credit licence. Providers differ over which word they use, so being told they do not offer one of them is often a vocabulary mismatch rather than a policy. If one term is not recognised, ask again using another.
Do ATO employees need a special deed of novation for a novated lease?: Yes. The Australian Taxation Office uses its own form of deed of novation rather than a financier’s standard one, and the finance company has to sign the ATO’s agreement for the lease to proceed. Check that your financier will sign it before you commit.
Why is the BYO finance rate for ATO employees higher than millarX’s headline rate?: Not every lender will sign the ATO’s deed of novation, including millarX’s lowest-rate lender. ATO leases are financed by a panel lender that does, so the rate is slightly higher — up to 0.70% p.a. above the headline rate. The exact rate is on your quote before you commit, with no commission added.
Will my administrator push back?: It's business as usual for them — we hand over the documents in the format they expect, and we deal with them directly so you don't have to.
Does anything change for payroll?: No. Your pre-tax deductions, running-cost budgets and reporting all continue through your administrator exactly as before.
What if I leave Australian Taxation Office?: Same as any novated lease — the finance travels with you. You can re-novate with a new employer or continue repayments directly.
I work part-time / casual — does this still work?: If you're eligible for salary packaging with your employer, you're eligible to BYO the finance. The saving works the same way.
Where does the saving come from?: The finance bundled into a novated quote usually carries a margin on top of the lender's rate. BYO replaces that finance with a transparent millarX loan on the same car and the same term — the management side of the lease is untouched.

Ready to keep the difference?

Request a BYO finance quote — we'll price the car you're looking at and show you exactly what to hand your Australian Taxation Office administrator. enquiries@millarx.com.au · 1800 498 500 · ABN 15 681 267 818 · ACL 569484