GWM Tank 400 Hi4-Z PHEV: What Australian Drivers Need to Know
The GWM Tank 400 Hi4-Z PHEV looks set for Australia. Here's what it means for novated leasing, FBT, and your salary packaging options. Read more.
A new contender is shaping up for the Australian large SUV market. According to a brief drive review published by EVcentral AU [Source 1], GWM's Tank 400 Hi4-Z PHEV is being flagged as a likely Australian arrival — positioning it as a rival to the Denza B5 in the premium plug-in hybrid segment. It's a torque-heavy, tech-loaded machine, and if it lands here with the right pricing, it'll land squarely on the radar of novated lease customers.
The Tank 400 uses a plug-in hybrid (PHEV) drivetrain — meaning it has both a combustion engine and a battery you can charge from the wall. That distinction matters a lot when it comes to how it's treated under Australian tax rules, and it's worth understanding before you get excited about salary packaging one.
What this means for novated lease customers
Here's where it gets important. Under current Australian tax law, full battery electric vehicles (BEVs) priced below the luxury car tax threshold are FBT-exempt — meaning employees can novated lease them and pay zero fringe benefits tax on the benefit. PHEVs were included in that exemption but only until 1 April 2025, after which new PHEV leases no longer qualify for the FBT-free treatment.
That means if the Tank 400 Hi4-Z arrives in Australia as a PHEV, it will likely be treated as a standard novated lease vehicle for FBT purposes — still a tax-effective way to run a car, but not the same zero-FBT deal you get with a pure EV today. You'd still benefit from pre-tax salary deductions covering finance, fuel, insurance, servicing and registration. The potential savings are real — just a different calculation to a BEV. If GWM or its partners were to launch a full BEV variant of the Tank platform under the luxury car tax threshold, that picture changes entirely. Worth watching.
Common questions
Is the Tank 400 Hi4-Z PHEV confirmed for Australia?
Not officially confirmed at the time of writing. EVcentral AU describes it as 'likely for Australia' based on a brief international drive. Check back as GWM Australia makes formal announcements.
Can I get the FBT exemption on a PHEV novated lease?
Only if the lease was entered into before 1 April 2025. New PHEV novated leases after that date no longer qualify for the electric car FBT exemption under Australian tax law. The vehicle is still leasable — it just doesn't get the zero-FBT treatment.
Is a novated lease still worth it on a PHEV without the FBT exemption?
Often, yes. You're still paying for the car with pre-tax dollars, which reduces your taxable income. The maths is different to a fully exempt EV, but for many employees — especially those on higher marginal tax rates — it remains one of the most tax-effective ways to run a vehicle.
What's the difference between a PHEV and a BEV for novated leasing purposes?
A BEV (battery electric vehicle) runs only on electricity. A PHEV has both a battery and a petrol engine. Under current ATO rules, only BEVs (and hydrogen fuel cell vehicles) priced below the luxury car tax threshold now qualify for the electric car FBT exemption on new leases.
When should I lock in a novated lease on a new EV or PHEV?
Tax rules can change, and timing matters. If you're considering a vehicle that currently qualifies for the FBT exemption, getting the paperwork done sooner rather than later reduces your exposure to future policy shifts. Talk to a licensed adviser — not just a dealership.