Novated leasing still viable?

[turbodewd]

Im into my 3rd year of a 4yr lease on an XR6T. I did my sums back in 2009 and found it to be worthwhile. But in May 2011 the Feds cracked down on this middleclass welfare (cant blame them) and have ramped up the FBT heaps.

My observation is that there is zero incentive for anyone to take out such a lease unless they earn $200,000+ and buy a petrol vehicle with at least moderate thirstyness (V8, turbo, etc).

This lease will be my last unless I choose to get an FBT exempt ute/pickup and declare that I will only use it to drive to and from work (bar very infrequent, minor other trips). Falcon ute or Ranger....sound okay but Im really a car guy.