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Australian Government EV discount bill enters parliament

he Federal Government this week placed its already detailed electric vehicle (EVs) incentives bill before the Australian Parliament, at it progresses to implementation stage in some form.

Rather than focusing on direct rebates like many of Australia’s States do, the Albanese Government’s plan centres around tax breaks to cut prices and drive take-up.

The legislation (called a Treasury Laws Amendment) exempts low-emissions cars from fringe benefits tax (FBT), potentially saving employers and private vehicle operators thousands.

his proposed ongoing FBT exemption will apply to battery electric cars (BEV), hydrogen fuel-cell electric cars (FCEV), and plug‑in hybrid electric (PHEV) cars, and will be reviewed after three years, the government says.

To qualify, the low-emissions vehicle must have a first retail price below the current relevant luxury car tax threshold of $84,916 (for 2022‑23), and have been first made available for use on or after July 1 of this year – meaning the legislation will be backdated.

 

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