The ATO ruling (CR 2020/68) states that the ebike novated lease is FBT exempt if you use the ebike to ride to and from work, for any other business-related travel. You may also use the ebike for private travel other than commuting, if that travel is incidental while performing employment-related duties or is non-work related if it is minor, infrequent and irregular. Other use of the ebike would give rise to a residual fringe benefit and the taxable value can be calculated using either the operating cost method or the cents per kilometres method (where there is extensive business use of the ebike). Your tax accountant can tell you more about dealing with the residual fringe benefit if that applies to you.