BYD Shark 6 novated lease: what you need to know
The Shark 6 is a plug-in hybrid ute, so it doesn’t get the electric car FBT exemption. For a tradie or business buying it mainly for work, a business car loan is usually the comparison that matters. This page covers what matters for a novated lease on the Shark 6, and the examples open it in the Navo engine for your figures.
The FBT position for the Shark 6
Plug-in hybrids stopped qualifying for the FBT exemption from 1 April 2025 for new arrangements. On a lease, FBT is usually covered by a post-tax contribution, which takes back part of the saving.
Novated lease or car loan for a Shark 6?
Suits: Tradies and businesses buying a ute, and private buyers who want a plug-in hybrid ute.
Without the exemption, the lease saving is smaller, and a car loan can come close or cost less. It depends on your income and how far you drive.
What to check before you sign
- The exact version and its drive-away price.
- That the version is classed as a plug-in hybrid (or range extender), not fully electric.
- When you commit and when the car will be provided.
- What happens to the lease if you change jobs.
- The residual at the end, and what the car is likely to be worth.
Worked examples
Open an example in the Navo engine, add your own income, and see the figures for every way to pay.
A BYD Shark 6 on a novated lease
Salary packaging at work, owning the car at the end. Add the drive-away price of your version.
A BYD Shark 6 for the business
Sole trader, mostly business use, GST registered. Add the drive-away price.
Questions
Is the Shark 6 FBT exempt on a novated lease?
No. It is a plug-in hybrid, and plug-in hybrids no longer qualify for new arrangements. Some work utes can be exempt from FBT under separate rules, depending on how they are used; ask your accountant.
Should a business buy the Shark 6 on a business loan?
If it is used mainly for the business, a business car loan (chattel mortgage) can carry GST credits and deductions for the business share. Navo prices it next to the personal options.
Do I need my employer’s agreement for a Shark 6 novated lease?
Yes. Your employer signs the lease agreement and runs the deductions through payroll. Any employer can, and our partner millarX can set it up with them.
What if I change jobs during the lease?
The lease can move to your new employer if they package it, or the payments come back to you. From 1 April 2029 a lease moved to a new employer may get only the partial discount.
Reviewed 7 October 2026. General information only, not tax advice. Check the final law and ATO guidance; prices and versions change.