NSW: $ 3,000 rebate, no stamp duty on electric vehicles | Information age

New South Wales government to remove stamp duty on electric vehicles (EVs) costing less than $ 78,000 and offer $ 3,000 in rebates to 25,000 people who buy battery and fuel cell electric vehicles hydrogen fueled under $ 68,750 on a budget of $ 490 million. on sales of electric vehicles in the state.

While electric vehicles currently account for around 9% of new car sales in Australia, the government of New South Wales has set ambitious targets in its electric vehicle strategy, hoping to lead the way by converting half of it. of the fleet to electricity or hydrogen by 2026, before switching to 100% electric. by 2030.

Hydrogen fuel cell and battery electric vehicles under $ 78,000 – the federal government’s luxury car tax threshold – will not be subject to stamp duty effective September 1, 2021.

All other electric vehicles, including plug-in hybrids, will not pay stamp duty as of July 2027 or when electric vehicles account for at least 30% of new car sales, whichever comes first.

The same 2027/30% threshold will apply to the government’s plan to introduce a 2.5 cents per kilometer road user charge (linked to the CPI at 2021 dollars) for electric vehicles.

This tax will replace the stamp duty and partly compensate for the loss of excise revenue on fuel resulting from the switch to electric.

NSW Treasurer Dominic Perrottet said the $ 490 million plan in NSW’s 2021-22 Budget was designed to both incentivize the adoption of electric vehicles and ensure that everyone who uses them contributes to their cost.

“Our strategy also initiates a major long-term tax reform. Today we are starting the process of phasing out the stamp duty on electric vehicles and a deferred transition to a fair and sustainable road user charge per kilometer for electric vehicles, ”he said.

“From young adults saving for their first car in West Sydney to retirees planning a road trip to Broken Hill, these incentives will make electric vehicles accessible and affordable for all residents of NSW.”

The other good news for EV drivers in Sydney is that they will be able to use the T2 and T3 transit lanes for the next several years, even if they are alone – an incentive that has proven popular in Europe.

Beach anxiety tackled

The government hopes that 50% of all new car sales will be electric or hydrogen by 2030.

NSW also appears to want to address its “range anxiety” issue with $ 171 million earmarked for new statewide charging infrastructure.

This includes $ 131 million to spend on new ultra-fast vehicle chargers, $ 20 million in grants for destination chargers at regional tourism businesses such as hotels, restaurants and wineries, and $ 20 million for charging infrastructure in public transport centers.

Under this plan, Sydney commuters will be no more than a 5-minute drive from a public fast-charging station and there will be more destination chargers in suburban parking lots in Sydney. Households in areas with limited off-street parking will not live more than 5 km from an ultra-fast charger, and ultra-fast chargers will be installed at intervals of 100 km on average along major highways in the city. New South Wales.

A budget program also allocates $ 33 million to transition the NSW government passenger fleet to electric vehicles.

Limited options

The $ 78,000 threshold means you can buy a Tesla Model 3 SR + – the brand’s only car below the luxury car tax – and hopefully the Model Y when it lands on those. coasts at the end of 2021 or the beginning of 2022.

Among the prestige brands, only the BMW i3 and i3 fall below the $ 78,000 mark.

If you can afford a Jag, Audi, Volvo, Porsche, or other Tesla over $ 100,000, you’ll still pay the full stamp duty – a Jaguar iPace will see you pay around $ 5,600 in stamp duty. stamp in the vaults of Perrottet.

There are currently around 30 models available in Australia, and a dozen more are expected to arrive over the next 12 months, but electric cars aren’t cheap in Australia and the federal government has ignored calls for incentives – when of the 2019 election campaign, Prime Minister Scott Morrison claimed “Bill Shorten wants to finish the weekend”With Labor’s EV policy – which may partly explain the slow adoption rate.

The bestseller, the Nissan Leaf, costs over $ 50,000 and the cheapest option, the MG ZS EV, will set you back $ 43,990 by car.

Transport and Roads Minister Andrew Constance said the transport sector currently accounts for 20% of the state’s carbon emissions, and nearly 50% of that figure comes from passenger vehicles.

“Electric vehicles are not only cheaper to drive and quieter on our roads, but they also reduce both carbon emissions and air pollution, which significantly improves the health of our communities,” he said. declared.

“As the global right-hand drive market evolves towards the manufacture of electric vehicles, we must ensure that we have the policies in place to give the industry the green light to increase model availability and reduce prices. ‘Entrance.

“The average driver in NSW will save about $ 1,000 per year in operating costs by switching to an electric vehicle, and those savings can be as high as $ 7,500 per year for businesses, taxis and freight.”

More on the map is available here.

This article originally appeared on Daily start.

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