BYD Atto 1 Premium: Is It Worth a Novated Lease?
The BYD Atto 1 Premium is Australia's most affordable EV. Here's what PAYG employees need to know about leasing it with FBT-exempt novated finance.
Australia's cheapest EV just got a serious review. The Driven recently tested the BYD Atto 1 Premium — the higher-spec variant with extended range and upgraded tech — and found it holds its own against comparable petrol SUVs on most measures that actually matter to everyday drivers (Source 1).
For a PAYG employee considering a novated lease, that combination of low sticker price and genuine EV credentials is worth a proper look. The Atto 1 sits in a price bracket that was, until recently, the exclusive territory of petrol hatchbacks and small SUVs — not battery-electric vehicles with real-world range.
What this means for novated lease customers
The Atto 1 Premium qualifies as a zero or low-emissions vehicle under the current FBT exemption framework, meaning eligible employees can package the running costs — repayments, registration, insurance, charging — through pre-tax salary. That pre-tax treatment is where the meaningful financial difference sits compared with buying the same car outright.
Because the Atto 1 already carries one of the lowest drive-away prices in the EV segment, the combination of a competitive purchase price and potential FBT savings can make the effective weekly cost surprisingly palatable. We won't quote specific dollar figures here — use our calculator for real numbers based on your salary and state — but the structural advantage is real and worth modelling.
One thing worth flagging: the FBT exemption has conditions. The vehicle must be used by an employee (or their associates) and must meet the emissions threshold as defined by the ATO. millarX is ACL-licensed and AFCA-registered, so we can help you confirm eligibility before you commit to anything.
Common questions
Does the BYD Atto 1 qualify for the EV FBT exemption?
Based on current ATO guidance, the Atto 1 appears to meet the zero or low-emissions vehicle criteria for the FBT exemption. However, eligibility depends on the vehicle's first retail sale date and its drive-away price relative to the luxury car tax threshold — we confirm this for each deal we structure.
Is the BYD Atto 1 Premium the right variant to novate?
The Premium variant adds range and tech over the base model, which may reduce real-world running costs like charging frequency. Whether the higher purchase price is worth it depends on your commute and how you use the car — factors our team works through with you.
Can I include home charging installation in my novated lease?
Yes. A home EV charger (EVSE) can typically be bundled into a novated lease budget, meaning the cost is also drawn from pre-tax salary. Conditions apply, so ask your consultant to confirm for your specific setup.
What happens if the FBT exemption changes during my lease?
This is a legitimate concern. millarX structures leases with this risk in mind and will walk you through the downside scenario so you're not caught off guard if policy shifts.
How does the Atto 1 compare with other EVs for novated leasing purposes?
The Atto 1's competitive drive-away price means more of the financial benefit comes from the FBT exemption rather than relying on a high-cost base vehicle. It's one of the more accessible entry points into EV novated leasing on the market right now.