WebNov 22, 2024 · November 22, 2024 Import tariffs and the Fringe Benefits Tax (FBT) will be cut on electric vehicles costing below $84,000 (AUD) in Australia. It is an exciting time to be watching the...

Fringe Benefits Tax exemption to save electric car drivers …

WebJul 1, 2024 · FBT exemption on electric cars. Fringe benefits tax (FBT) is a tax that employers pay on benefits paid to an employee in addition to their salary or wages. FBT … WebJul 27, 2024 · The legislation will amend the Fringe Benefits Tax Assessment Act 1986 to exempt from FBT the use of eligible electric cars made available by employers to … solis mammo fax

The Proposed Electric Vehicle FBT Exemption

WebNovated leases are required by law to have a certain amount of Fringe Benefits Tax be paid – it’s why pre- and post-tax payments are needed. With the Electric Car Discount however, a novated lease on an eligible EV is FBT exempt, meaning you don’t pay any post-tax contributions – for EVs retailing up to the Luxury Car Tax threshold of ... Web15,000 X 5 = 75,000kms /35000 = 2.14 sets of tyres X $850 per set = $1,819/5 years = $363.80 per year. Maintenance. Most cars need a service every 10,000 to 15,000km and the cost of this service depends on the type of vehicle you choose. However EV’s in general require less serving so we have set an allocation of $350 per year. WebThe Electric Car Discount Policy was designed to encourage EV adoption by exempting certain electric cars from import tariffs and fringe benefits tax. The exemptions will be limited to electric cars below the luxury car tax threshold for fuel efficient vehicles ($84,916 in 2024-23), and is to commence retrospectively from 1 July 2024. solis mammo careers