Electric Car Incentives Australia

 

Electric Cars are exploding in popularity in Australia. In the not-too-distant future, don’t be at all surprised to see electric vehicles replace the traditional petrol and diesel models as the primary choice for Australian Motorists.

That brings us to the question, are there any incentives for owning an Electric Vehicle in Australia? The answer is a resounding yes! However, incentives do vary from state to state.

Along with added environmental benefits, electric vehicle owners can claim tax and registration incentives for an electric vehicle purchase depending on the state you reside in. With Australia’s new emission plan continuing to expand, further incentives may come available in the years ahead.

Shop for Cars has put together the current incentives for buying an electric vehicle in Australia.

Federal Incentives

Electric Vehicles in Australia are eligible for the Luxury Car Tax. The Luxury Car Tax is levied at 33c on each dollar spent above the indicated threshold. For standard diesel and petrol cars the threshold is $69,152. For electric vehicles the threshold is $79,659.

The new government incentive can save Motorists up to $3000 off their Electric Vehicle Purchase.

To stay ahead of the current Luxury Car Tax Threshold, visit the ATO link here.

New South Wales

For Electric Car Buyers in NSW, the Government offers a $3,000 rebate to the first 25,000 new battery electric vehicles that are sold with a value of less than $68,500.

To learn more about the rebate and to apply, visit the NSW Government website link here.

On top of the rebate, NSW electric car buyers can also claim the stand duty exemption. The stamp duty exemption is available for all electric vehicles up to and including the value of $78,000.

To read more about the no stamp duty for electric vehicles in NSW, visit the official government website page here.

Victoria

The Victorian Government offers Electric Car Buyers a ZEV Subsidy of $3,000 on new zero emissions vehicles with a total value of $68,740. The subsidy is only available to 4,000 registrations and you need to apply.

To learn more about the ZEV Subsidy and to apply click here.

On top of this, Victorian Electric Vehicle buyers are exempt from the luxury vehicle stamp duty tax. Victorians only need to pay a rate of $8.40 per $200 of the vehicles market value. Owners will also receive an annual $100 discount on registration fees.

Queensland

Electric and Hybrid Car Buyers in Queensland are offered reduced stamp duty. Motorists will only need to pay $2 per $100 of the vehicles value up to $100,000 valued electric and hybrid vehicles. This is compared to $6 per $100 for petrol and diesel vehicles.

To learn more about the savings in Queensland visit the official government website link here.

South Australia

The South Australian Government offers a $3000 rebate for the first 7,000 new electric vehicles sold with a vehicle value less than $68,750 including GST. Additionally, Motorists can claim three years of free registration.

To read more about South Australia’s Electric Vehicle Incentives and to apply for the rebate, visit the official SA Government link here.

Australian Capital Territory

The ACT offers all new electric and zero emissions vehicles a full stamp duty exemption. Along with this Motorists can also receive two years of free registration if the electric vehicle was purchased after the date of 24th May 2021 and before 30th June 2024.

To help with the transition to electric vehicles the ACT Government also offers interest fee loans of up to $15,000 to assist with buying an electric vehicle.

To learn more about the ACT incentives visit the official government website link here.

Tasmania

In Tasmania, the government offers a two-year stamp duty exemption on both brand new and used electric vehicles. The stamp duty exemption is available for two years and is aimed at reducing the costs for motorists to switch to greater environmentally friendly vehicles.

To learn more about Tasmania’s Electric Vehicle incentives click here.

Northern Territory

To take effect in July 2022, The Northern Territory Government will provide electric vehicle purchasers free registration and reduction of $1500 off stamp duty for electric vehicles costing up to and including $50,000.

To read more about the incentives for Electric Vehicles in the Northern Territory click here.

Western Australia

Unfortunately for Electric Car Buyers in Western Australia there are no incentives or rebates available. It has been found the WA government is rather focusing on charging stations and infrastructure for motorists.

Final Word,

There are many great reasons to make the switch from a petrol or diesel vehicle to electric. Many states have introduced great incentives to make it easy to switch to electric vehicles. With Australia’s plan to reach net zero by 2030, it is believed more incentives will become available.

We hope you enjoyed reading this article. To read more articles like this, please visit the Shop for Cars latest news page here.

About Shop for Cars,

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DISCLAIMER: The above information has been taken from the Official Government Websites. Shop for Cars assumes no responsibility for changes to the incentives above. Please refer directly to the government website for the most updated toll relief costs.