Electrifying Australia: A State-by-State Guide to EV Incentives
The future is electric, and Australia is charging ahead! If you're considering joining the electric revolution, there's never been a better time. Governments across the country are rolling out incentives to make owning an EV more affordable and accessible. Here's a comprehensive breakdown to what's on offer in each state:
ACT: Capital Incentives 🏢
- Up to $15,000 in interest-free loans for EVs up to $77,565.
- Free registration for two years (until 30 June 2024) or 20% off on older EVs.
- Waived stamp duty on first-time EV purchases (limitations apply).
Northern Territory: The Electric Frontier ⚡
- $1,500 subsidy on stamp duty for EVs/PHEVs for 5 years from 1 July 2022.
- Cheaper registration for BEVs and PHEVs for five years.
- Grants for home, workplace, and public EV chargers.
Victoria: Charging Up 🔌
- $100 discount on annual registration fees.
- Exemption from 'luxury vehicle' stamp duty; flat rate of $8.40 per $200 of market value.
Queensland: Sunshine and Savings ☀️
- $6,000 subsidy for first 15,000 new EVs up to $68,000 (income-based).
- Lower registration fees and stamp duty compared to ICE cars.
New South Wales: Powering Ahead 🔋
- $3,000 rebate for first 25,000 EVs under $68,750.
- Waived stamp duty on EVs under $78,000 from 1 September 2021.
- Registration fee discounts; T2 and T3 transit lane access.
South Australia: Sparking Innovation 💡
- $3,000 rebate for first 7,000 BEVs up to $68,750.
- Free registration for three years until 30 June 2025.
- Up to $2,000 rebate for first 7,500 households installing an EV smart charger.
Tasmania: Green Island Drive 🌲
- Free stamp duty for two years on new and second-hand EVs.
- Free registration for two years for car rental companies and coach operators.
Western Australia: The Wild Electric West 🤠
- $3,500 rebate for first 10,000 EVs under $70,000.
- Exemption from 10% on-demand transport levy.
Australia-Wide Incentives: A Unified Charge 🤲
- Up to $2,000 off purchase price of EVs/PHEVs from 1 July 2022.
- $2,500 lower purchase prices due to removed 5% import tariff.
- Higher Luxury Car Tax threshold: $84,916 for low-emission vehicles.
- Removed Fringe Benefits Tax: $4,700 annual savings for salary sacrifice agreement on a $50,000 EV.
- $62.6 million funding package for small businesses to decarbonize, including fleet electrification.
The Road Ahead 🛣️
With these incentives, the road to a cleaner, greener future is wide open. Whether you're a city commuter or a country explorer, there's an EV incentive tailored for you. Plug into the future and drive the change today!
-------
REFERENCES:
Electric
Written by The NRMA