2 things mate: 1. We haven't had a 40% tax bracket for 14 months now 2. I'm pretty sure you can't have equity in a lease; this is because under a lease you don't actually own the car. Usually when you get a car under a lease and have paid a deposit to the dealer, that amount gets refunded to you at handover. Be surprised if yours wasn't a CHP or something, which is a different beast altogether. Also if you paid more than $57k your car is a luxury car and thus for tax purposes won't be treated as a lease Also I would be VERY surprised if you were actually coming out ahead on such an expensive vehicle, where the running costs relative to the cost of the car aren't that high (trust me I have a G6ET, which I fortunately paid less than $43k for BRAND NEW, and I do over 25,000 klms in a year - even I am only marginally ahead and I am in the 37% bracket.)