Electric vehicles have become much more affordable in Australia, with a growing range of models now priced competitively against traditional internal combustion cars, supported by both market trends and government incentives. On feature-for-feature comparisons, EVs are still more expensive to purchase compared to petrol cars in Australia. Government incentives and falling production costs are narrowing this gap, and EV owners can now expect to save about $10,000 over five years of ownership when comparing an electric SUV with a petrol SUV.
Currently there is a fringe benefit tax (FBT) exemption for eligible EVs and associated car expenses. Under the exemption, employers and employees can salary package EVs without incurring FBT, significantly reducing the vehicle’s overall cost. However, the vehicles must be below the luxury car tax threshold.
Under its EV strategy, the NSW Government is investing $289 million, which includes incentives for fleets and charging infrastructure, with $199 million invested to support private charger point operators to install chargers at various locations across the state, including carparks, along major highways, and at accommodation such as hotels and residential areas.
To assist potential EV drivers we have created a website – Let’s DriVE which provides information such as:
- EV charging stations across NSW
- Finding an electric vehicle that’s right for you
- How much does it really cost to own an electric car?
- EV charging infrastructure. Money available
- Australia’s heavy vehicles shift gears toward electrification
- Plan now for the electrification of agriculture
- Be sustainable. Use the Green Vehicle Guide
