Electric vehicles are the clear future for motoring. Owning an electric vehicle is no longer a novelty, but rather quickly becoming the norm in many countries.
Consumer interest in electric vehicles is quickly gaining in popularity, especially with the recent spike in fuel prices and the introduction of the 'electric car discount' policy. More Australians are considering making the switch to electric power.
Australia has previously been criticized for our slow uptake of electric vehicles, the lack of government incentives and the minimal infrastructure supporting the adoption of EVs.
This is about to change though, with states across Australia announcing new policies and plans to encourage the uptake of electric vehicles. Here is what each state has announced so far:
Federal Government
The Federal Government has announced their new policy the "Electric Car Discount" policy which will see electric vehicles becoming exempt from FBT effective 1st July 2022.
This policy will make electric vehicles more affordable to encourage more Australians to choose electric over their petrol counterparts.
This discount policy will make electric vehicles exempt from two major costs:
- Import tariffs
- Fringe Benefits Tax (FBT)
For more information on how this policy will come into effect with a working example, read our summary here.
Victoria
The Victorian Government has announced their own program to promote the uptake of EV ownership in the state.
The first program being the Zero Emissions Vehicle Subsidy, offering a $3,000 rebate for the first 4,000 eligible new ZEV’s purchased on or after 2 May 2021.
$19 million is planned to be invested to accelerate the roll-out of electric vehicle charging infrastructure across regional Victoria.
As of 1 July 2022, there are 1,075 ZEV subsidies remaining.
The Victorian government has announced the energy “Bill Buster” scheme, to help reduce the cost of living for Victorian households.
As of July 1st, all households will become eligible for a $250 power saving bonus by comparing their energy rates on the Victorian Energy Compare website. Your power bill and energy costs will be compared to others in your area to determine if you can get a better deal.
If you drive an electric vehicle and charge it at home with off-peak power, $250 could see the average electric vehicle driver charging their car up to 29-times!
Read the full VIC Electric Vehicle Strategy here
New South Wales
Driving an electric vehicle is about to become a lot easier in NSW with the state government investing almost half a billion dollars in tax cuts and incentives.
This plan will see $171 million worth of EV infrastructure funding starting with a partnership between Jolt and Endeavour Energy to install more than 230 charging points across the state by 2025, offering 7kWh of free energy per day to NSW drivers.
The NSW government is also removing stamp duty for EV drivers and offering a $3,000 rebate to the first 25,000 new electric vehicles purchased for under $68,750 and after 1 September 2021.
Read the full NSW Electric Vehicle Strategy here
Queensland
The Queensland Government announced their Zero Emission Vehicle Strategy on March 16, 2022, outlining their plan to support EV ownership for the next 10-years.
Zero-emission vehicles valued up to $58,000 (including GST) purchased from the 16th of March 2022 onwards, are eligible for a $3,000 rebate.
Read the full QLD Zero Emission Vehicle Strategy here
Tasmania
The Tasmanian Government has committed to support the uptake of electric vehicle ownership with the establishment of the Electric Vehicle Working Group.
The first step in their plan is waiving stamp duty on all new and used electric or hydrogen fuel cell cars between July 1, 2021 and June 30, 2023.
Read the full TAS Electric Vehicle Strategy here
Australian Capital Territory
All new or used zero-emission vehicles purchased between May 24, 2021, and June 30, 2024, will receive two years of free registration.
Electric vehicles purchased prior to May 24, 2021, will also experience a discount in registration fees! These EVs will receive a 20% reduction in registration fees.
In addition, the ACT government also offers a Sustainable Household Scheme, offering a zero-interest loan up to $15,000 that can be used to help purchase an electric vehicle or electric vehicle charging infrastructure.
Western Australia
Western Australia recently announced their State Electric Vehicle Strategy for Western Australia, proposing a $21 million investment to support the adoption of electric vehicles, reduce greenhouse gas emissions and improve urban air quality.
From May 10, 2022, the WA government are offering a $3,500 rebate for the first 10,000 people who purchase a new electric or hydrogen fuel cell vehicle valued under $70,000.
To support EV ownership, the WA government have also announced plans to invest in electric vehicle charging infrastructure by installing fast charging stations across 45 locations across the state.
Read the full State Electric Vehicle Strategy for WA here
The South Australian Government is investing $53.25 million to deliver an Electric Vehicle Action Plan, with the aim to make electric vehicles the primary choice for drivers by 2030.
From 28th October 2021, the South Australian government is offering a $3,000 rebate on the first 7,000 new electric vehicles purchased for under $68,750.
Vehicles purchased for up to $68,750 (including GST) are also eligible for free registration for the first three years!
As of 24 June 2022, there are 6,760 electric vehicle subsidies remaining.
In addition, the SA Government has secured a $12.35 million grant awarded to the RAA to construct and operate Australia’s first statewide electric vehicle rapid charging network.
Read the full SA Governments incentives for electric vehicles here
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