MG S6 Electric SUV — What Novated Lease Buyers Need to Know
The MG S6 electric SUV is coming for the Tesla Model Y and Kia EV5. Here's what Australian salary packagers should know before it lands. Read more.
A new challenger is shaping up in the family electric SUV segment. MG has given the world its first look at the S6, a family-sized electric SUV pitched squarely against the Tesla Model Y and Kia EV5 — two vehicles that have dominated novated lease order books over the past two years.
According to The Driven's first-look coverage ([Source 1]), the MG S6 is a proper walk-around reveal of a vehicle targeting the exact segment that Australian PAYG employees keep asking us about: a spacious, practical EV that makes sense under a novated lease. We don't have final Australian pricing or delivery timelines yet, so treat everything here as early intelligence rather than buying advice.
What this means for novated lease customers
Here's the part that actually matters to your pay packet. Any battery electric vehicle (BEV) that qualifies under the FBT exemption for eligible EVs — currently legislated under the Fringe Benefits Tax Assessment Act 1986 as amended — can be salary packaged with zero FBT, meaning your employer covers the lease cost from your pre-tax salary without the usual fringe benefits tax hit. The MG S6, if it lands in Australia at a price below the luxury car tax threshold (currently $91,387 for fuel-efficient vehicles in 2024–25) and meets residency requirements, would in principle be eligible — though final confirmation depends on the production model's specs and the ATO's assessment at the time.
Why does competition matter to you? More options in the mid-size EV segment means downward pressure on drive-away pricing and on residual value assumptions — both of which flow through to your monthly lease cost. The Model Y has had the novated lease market largely to itself in this segment; the MG S6 and Kia EV5 arriving as credible alternatives gives you genuine negotiating context. More competition is generally good news for people leasing, not just people buying outright.
That said, MG's residual values have historically been softer than Tesla's in the Australian used-car market — something a good novated lease broker (not just an order-taker) should model honestly for you before you sign anything.
Common questions
Is the MG S6 eligible for the EV FBT exemption?
Potentially yes, if it's a battery electric vehicle priced under the luxury car tax threshold for fuel-efficient vehicles and meets other ATO eligibility criteria — but final confirmation isn't possible until Australian specs and pricing are confirmed. We'll update this page when that information is available.
How does the MG S6 compare to the Tesla Model Y for a novated lease?
Both are mid-size electric SUVs that sit in the EV FBT exemption zone (assuming pricing holds). Key lease variables to compare are drive-away price, estimated residual value, running costs (tyres, servicing), and charging network convenience — not just the monthly payment figure.
When will the MG S6 be available in Australia?
No confirmed Australian on-sale date has been announced at the time of writing. The Driven published a first-look walk-around in May 2026, suggesting a launch is approaching, but we'd recommend waiting for official MG Australia confirmation before factoring it into lease planning.
Should I wait for the MG S6 or order a Model Y or EV5 now?
That depends on your current vehicle situation, your lease end date, and whether you're paying FBT on a non-exempt vehicle in the meantime. Waiting has a real cost if you're currently running an ICE vehicle outside a lease — a broker can help you model that trade-off.
Does millarX handle MG novated leases?
Yes. millarX is ACL-licensed and can arrange novated leases across a wide range of EVs including MG models. If you want to get on an enquiry list for the S6 or compare it against current options, get in touch.