# 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 short answer The BYD Shark 6 is a plug-in hybrid, so it doesn’t get the electric car FBT exemption on new arrangements: plug-in hybrids stopped qualifying from 1 April 2025. A novated lease can still package the payments and running costs from pre-tax pay, but FBT applies, which shrinks the saving. Compare it with a car loan or, for business use, a business car loan on the same car. ## 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. [Work it out](https://navo.au/#start). - **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. ## Related guides - [What is a business car loan (chattel mortgage)?](https://navo.au/guides/what-is-a-business-car-loan/) - [When a novated lease is not for you](https://navo.au/guides/when-a-novated-lease-is-not-for-you/) - [The electric car FBT exemption, explained](https://navo.au/guides/electric-car-fbt-exemption/) Reviewed 2026-10-07. --- General information only, not tax advice. Check the final law and ATO guidance; prices and versions change. Navo's results are general information and indicative only. They are based on what you tell us and our assumptions, are not a credit assessment, quote or tax advice, and don't take all of your circumstances into account. Credit is subject to the lender's criteria. Fees and charges apply. Navo is a trading name of Blackrock Leasing Pty Ltd ABN 15 681 267 818, Australian Credit Licence 569484.