MG HS Plus EV Novated Lease

  • Save $1,000s with a novated lease on a MG HS Plus EV
  • Benefit from the massive $0 fringe benefits tax (FBT) incentive

How much is the MG HS Plus EV variant you want to novate?

mg hs plus ev novated lease
mg hs plus ev novated lease

Benefits of a MG HS Plus EV novated lease

Best match guarantee

GST discount on the upfront vehicle purchase price

Novated Lease

Pay $0 GST on running costs (including charging)

Bank Statement Health

Pay for your MG HS Plus EV with pre-tax salary

Consolidating debt

Eligible for the fringe benefits tax exemption

Shopping around for the right novated lease can save you thousands of dollars in interest and fees.

In our MG HS Plus EV novated lease guide:









The slightly larger sibling of MG’s ZS EV, the HS Plus EV is an affordable, family-friendly electric vehicle option in Australia.

With pricing starting from just under $50,000 driveaway, it's certainly one of the cheaper electric SUVs available. Particularly when compared to the likes of the Hyundai IONIQ5 and even more compact electric SUVs like the BYD Atto 3.

The standard pricing is appealing by itself. But when combined with the available fringe benefits tax exemption, a novated lease on the HS Plus EV makes a very compelling case compared to other MG finance options.

MG HS Plus EV novated lease pricing

VehicleEstimated drive-away priceUp-front GST savingWeekly novated lease costTotal tax saving during lease

MG HS Plus EV (Excite)





MG HS Plus EV (Essence)





Important: MG HS Plus EV price as at June 2023. Novated lease cost estimate assumes a buyer in NSW with annual pre-tax salary of $120,000 and 15,000km driven annually. Estimated vehicle running costs include charging, comprehensive car insurance, servicing, registration and tyres.

mg zs ev novated lease how it works

MG HS Plus EV novated lease: How will it work?

Here's what to expect with a MG HS Plus EV novated lease:

  • You enter an agreement with your employer and a novated lease company.
  • The lease company buys the MG HS Plus EV on your behalf (with a GST discount).
  • Your employer makes the regular car payments to the lease company using your pre-tax salary.
  • You can also pay for pretty much all of your running costs pre-tax (with a GST discount on those costs too).
  • At the end of the lease you can pay the residual value of the lease to own the car, or extend the lease for a new term.
Hyundai IONIQ 5 running expenses

What car running costs can be included with a MG HS Plus EV lease?

The car running costs you can include in your MG HS Plus EV 5 novated lease include:

  • Charging
  • Registration and CTP
  • Comprehensive car insurance
  • Servicing
  • Tyres
  • Car washes

Some related expenses can’t be included. For example, the cost of installing a home battery or fast charger for your MG HS Plus EV cannot be packaged with your lease.

Tax implications

MG HS Plus EV variants eligible for the novated lease FBT exemption

All variants of the MG HS Plus EV are eligible for the fringe benefits tax exemption on an electric car novated lease.

That means the Excite and Essence variants.

Thanks to the novated lease fringe benefits tax exemption, you will be able to pay for 100% of your lease costs (including all eligible running costs) using your pre-tax salary.

This boosts the savings already available on all novated leases compared to a car loan, or even paying for the car in cash.

Compare loans in 60 seconds

Get a quick novated lease quote

See how much you could save on your MG plus running costs with a novated lease. Get a personalised, no-obligation quote today.


MG HS Plus EV novated lease FAQ

The benefits of a novated lease on a MG HS Plus EV mostly relate to tax. If you are an employees and pay income tax, generally it should be possible to save money with a novated lease.

That said, the extent of the savings will be determined by a few different factors, like the car you choose for your novated lease (an electric car like the MG HS Plus EV will save you more than a non-ev). Your salary and how much you drive your car will also have an impact.

Of course, there's also the convenience of having a single payment for your car and pretty much all running costs (that's automatically deducted from your salary).

It's important to weight up the pros and cons of a novated lease, and get personalised advice if you're unsure.

The residual payment on your MG HS Plus EV novated lease will be a percentage of the purchase price of the vehicle. This percentage will itself depend on the length of the lease. A longer lease will mean a lower residual percentage.

For example, the residual payment on a MG HS Plus EV in the Excite variant (purchase price: $48,973) with a 5-year novated lease would be approximately $14,651 (inclusive of GST) or 28.13% of the purchase price.

Remember you’ll need to use after-tax money to make the residual payment on your MG HS Plus EV novated lease.

Novated lease guides and resources

Find out more about the possible savings, benefits and things to watch out for, plus your range of options with a novated lease in Australia.

Written by

Shaun McGowan founder

Loans Expert

Shaun McGowan

Reviewed by

Sean Callery Editor


Sean Callery



Level 3, 201 Miller St,
North Sydney, NSW, 2060, Australia

Suite 3, Level 2, 1 Taylor Street,
Moorabbin, VIC, 3189 Australia


Money Pty Ltd trading as Money
ABN: 42 626 094 773
ACL: 528698
AFCA: 83955

© Copyright 2023 Money Pty Ltd.


Money Pty Ltd (trading as Money) Australian Credit Licence 528698 provides information about credit products and is authorised to do so as the holder of Australian Credit Licence 528698. Money does not compare every Lender all products or issuers available in Australia. We are not a broker or credit provider and when we provide information via this website, we are not providing you with a recommendation or suggestion about a particular credit product.