MG S6 EV Lands Under $50K — What It Means for Your Novated Lease
MG's S6 EV arrives in Australia with 500km+ range under $50K. Here's what PAYG employees should know before signing a novated lease. Read the breakdown.
MG has confirmed Australian pricing and specs for the S6 EV, its mid-size SUV pitched directly at the Tesla Model Y. According to the EVcentral report [Source 1], the S6 comes in under $50,000 and delivers more than 500km of claimed range — two numbers that tend to get novated lease customers paying attention.
The headline figures sound good. But 'sounds good' and 'works well as a novated lease' are two different things. Here's what actually matters if you're considering putting one on a salary package.
What this means for novated lease customers
The MG S6 EV sits below the FBT exemption threshold that currently applies to eligible zero-emissions vehicles in Australia — meaning, if it qualifies under the existing rules, the fringe benefits tax on the vehicle could be zero. That's the core reason EVs under the luxury car threshold have become so popular on novated leases: the FBT exemption can make a meaningful difference to your effective out-of-pocket cost compared with financing an equivalent petrol vehicle.
Pricing under $50,000 also keeps the S6 well clear of the Luxury Car Tax threshold, which avoids a cost that can quietly inflate the capitilised value of pricier EVs on a lease. A lower drive-away price generally means a lower monthly payment, all else being equal — though the exact numbers depend on your income, employer, residual value, and lease term. Use millarX's calculator for a personalised figure rather than relying on any generic estimate.
One thing to verify before you commit: FBT exemption eligibility depends on the vehicle meeting the ATO's definition of a 'zero or low emissions vehicle' and being first held and used on or after 1 July 2022. MG's S6 is a new model — confirm the specific variant qualifies with your novated lease provider before signing anything. millarX will do this check as part of the standard quote process.
Common questions
Is the MG S6 EV eligible for the FBT exemption on a novated lease?
It appears likely, given it is a battery-electric vehicle and priced below the relevant luxury car tax threshold — but eligibility must be confirmed against current ATO rules for the specific variant and delivery date. Don't assume: ask your provider to confirm in writing.
How does the MG S6 EV compare to the Tesla Model Y on a novated lease?
Both sit in a similar price bracket and both are BEVs that should qualify for the FBT exemption. The key differences come down to residual values, insurance costs, and servicing — all of which affect your total lease cost. The S6's lower entry price may mean a lower monthly commitment, but get quotes on both before deciding.
Does the 500km range claim mean I won't need to worry about charging?
Claimed range figures are tested under laboratory conditions and real-world range is typically lower, especially with highway driving or in cold weather. For most Australian commuters, 500km claimed range is more than adequate — but factor in your actual driving patterns.
Can I novated lease an MG S6 EV if my employer has never done one before?
Yes. Any Australian employer can participate in a novated lease arrangement — it doesn't require a formal program. millarX handles the setup directly with your payroll team, so you're not relying on your HR department to figure it out.
When can I actually order an MG S6 EV on a novated lease?
MG has confirmed pricing ahead of showroom arrival in Australia. Timing for deliveries will affect when a lease can formally commence — contact millarX to register interest and we'll track availability with you.