While some novated leases are subject to [fringe benefits tax](/fringe-benefit-tax) (this applies to all employee benefits that are separate to the salary you earn), as the employee you do not need to pay anything either way.
Novated leases on electric vehicles and plug-in hybrids are exempt from fringe benefits tax, if the vehicle is valued below the luxury car tax threshold ($91,387 in FY24/25).
For all other vehicles that are subject to FBT, the novated lease will be set up to include some post-tax salary contributions to cancel out any FBT liability that your employer would otherwise be subject to (where it applies, FBT falls to the employer, not the employee to pay).