The rapid emergence and popularity of electric cars in Australia has prompted several states to offer financial incentives to encourage people to buy them.
New models from China, such as the BYD, have lowered the prices of cars.
Some states, such as Victoria and New South Wales, have already ended their incentive programs for electric cars.
The breakdown below shows the various types of financial incentives and rebates offered by each state.
The LCT is a tax on luxury cars that are imported into Australia.
The LCT threshold for fuel-saving cars is higher for vehicles that are currently priced at $91,387 or less.
The Electric Car Bonus provides an exemption from the fringe benefits tax on eligible EVs that are provided to employees.
In addition, plug-in hybrids and EVs don’t have to pay customs duties on the vehicles.
In Queensland, people can get a maximum rebate of $6,000 if they buy an electric vehicle worth up to $68,000.
To qualify for the full $6,000, a household’s annual taxable income should not exceed $180,000.
On the other hand, households with incomes over this amount can get a lower $3,000 rebate.
Employees may also be entitled to a $3,000 rebate. New South Wales gave a $3,000 incentive but it ended its program on January 1, 2024.
In Victoria, people can get $100 off their vehicle registration every year. The program for South Australia also ended on January 1, 2024.
In Western Australia, people can still get a three-year exemption on their vehicle registration for new electric cars that are valued below $68,750.
The program, which is expected to end in May 2025, provides a $3,500 rebate to buyers of cars worth less than $70,000.
In Tasmania, people can get a $2,000 rebate on the purchase of an electric vehicle. However, there are only a few remaining available rebates.
In the Northern Territory, people can get a free registration until June 30, 2027.
They can also claim a stamp duty concession on vehicles worth up to $50,000.
The Australian Capital Territory changed its registration system from a weight-based approach to an emissions-based one.
This means that electric cars now enjoy lower fees. They can also be exempted from stamp duty.