Persona 11 — Maya, graduate renter with an EV and ETFs

Profile

• Age: 24
• Occupation: Graduate engineer at a consulting firm, $62,000 base
• Living: rents a share house in Melbourne; pays $310/wk
• Investments:
  • Salary-packaging a 2026 Tesla Model 3 (LFP, $58,990 list) via novated lease → fully FBT-exempt today
  • $200/month into a low-cost diversified ETF (started June 2024, currently $4,200 invested)
  • HECS-HELP debt: $32,000

Their universe of policies

• Theme 04 §4.1 — Personal income tax
• Theme 04 §4.5.1 — EV FBT discount tapering
• Theme 04 §4.2.1 — CGT indexation
• Theme 02 §2.3 — CRA + housing supply

Scenarios

Scenario A — Personal tax cuts + WATO + instant deduction

• Policy: §4.1.1-3.
• Mechanic: Treasury table for $60-70k incomes:
  • $60k: $1,447 in 2026-27, $1,965 from 2027-28 (up to $2,300 with full instant deduction).
  • $70k: $1,697 in 2026-27, $2,215 from 2027-28 (up to $2,535 with full instant deduction).
• Maya at $62k → ~$1,500 in 2026-27, ~$2,015 from 2027-28, up to ~$2,365 with instant deduction.

Scenario B — Tesla via novated lease (locked in pre-April 2027)

• Policy: §4.5.1 — EV FBT discount tapering.
• Mechanic: Maya's car is ≤$75,000 → full FBT exemption applies until 1 April 2029. Existing arrangements are preserved for the life of the arrangement, so even if her novated-lease term extends past 2029, she keeps the exemption for that lease.
• Numbers: A typical $59k Model 3 novated lease saves ~$5,000-7,000/yr in tax + GST vs an equivalent ICE car at her income level — preserved fully under the exemption window.

Scenario C — She holds her ETFs into the new CGT regime

• Policy: §4.2.1 CPI indexation, §4.2.2 30% min tax.
• Source: tax-explainers-negative-gearing-capital-gains-tax.docx.
• Mechanic: Maya's ETFs were purchased before 1 July 2027. When she sells (say, age 30 in 2031), the gain is apportioned: pre-1-July-27 portion uses 50% discount, post-1-July-27 portion uses indexation + 30% min tax.
• Numbers (illustrative): assume ETFs grow at 7% nominal, 2.5% inflation. By 2031: ~$22k invested, ~$26k value → $4k gain. ATO valuation says portfolio was worth $11k on 1 July 2027, so pre-gain ≈ $1k (50% discount → $500 taxable). Post-gain ≈ $3k less indexation ≈ $2.5k real → at 30% min tax = $750 tax vs $750 under old regime ($3k × 50% × 30%/47%) — essentially neutral at low marginal rates. Real impact is greater for higher earners and longer holds.

Scenario D — Rent moves slightly

• Policy: §4.2.3 negative gearing.
• Mechanic: Treasury <$2/week rent rise on the median rent. For Maya at $310/wk, this is immaterial.

Scenario E — She thinks about buying a home in 5 years

• Policy: Theme 03 §3.6 housing supply, Theme 02 §2.3 Local Infrastructure Fund.
• Mechanic: 65,000 additional homes unlocked over the decade; investor share of demand falls; owner-occupier share rises by ~75,000 over 10 years (Treasury).

Bottom-line annual impact

Calculator settings

Open calculator/index.html:

• Income: $62,000 work income, $1,000 IAW.
• Vehicle / FBT tab: select "EV ≤$75k novated lease — pre-April-2027 entry"; preserves exemption.
• Investments tab: ETF $200/month, 7% nominal growth, 2.5% inflation, sale year 2031, marginal rate ~32%.