Australians will continue to benefit from lower electric vehicle (EV) costs, with both major political parties confirming support for the current electric car discount policy.
Opposition Leader Peter Dutton has pledged that a Coalition government would maintain the Fringe Benefits Tax (FBT) exemption for electric vehicles if elected on 3 May. The exemption reduces the purchase cost of EVs, particularly for those acquired through salary packaging.
Julie Delvecchio, Chief Executive of the Electric Vehicle Council (EVC), welcomed the bipartisan commitment.
“The Electric Vehicle Council is pleased to see our call for bipartisan support during the election campaign answered, with the Coalition’s backing of the FBT policy.
“This will mean Australians can continue to access cost-of-living relief by shifting to cleaner, more affordable cars.”
Delvecchio said the policy plays a key role in making EVs more accessible across the country.
“This policy is helping more Australians afford the upfront cost of an EV. Owning an EV can save drivers up to $3,000 per year in fuel and maintenance costs.
“The electric car discount doesn’t just reduce the upfront cost for new car buyers – it also grows the second-hand EV market, allowing even more Australians to benefit from affordable, sustainable transport.”
The FBT exemption was introduced in 2022 and applies to eligible zero or low-emission vehicles under a certain price cap.
To stay up to date on the latest industry headlines, sign up to the C&I e-newsletter.