So, just to confirm, here’s what this means for you:
With Labor scrapping import tariffs for certain models of EV, the average Aussie will see a huge benefit when buying a new electric car. Let’s say you want to get your hands on the all-new Hyundai Kona Electric – a car with a $50k price tag. The 5% import tariff is now history, knocking off $2k to make the price $48k, just like that!
- Far easier to negotiate with employers
In the past, many businesses have been put off providing their staff with personal vehicles. This, no doubt, is thanks to the 47% fringe benefits tax – which, as you know, can be handballed to employees themselves and taken out of their salary. But that’s changing, big time, and it will now get a whole lot easier to negotiate an electric vehicle included in your work benefits.
- More electric cars on the road
Yep, you can expect to see far more EVs and PHEVs on Aussie roads. From stunning luxury models like the BMW iX to electric versions of favourites like the Hyundai Ioniq, to futuristic hatchbacks like Honda’s emerging ‘e’ model, we’ll have plenty to choose from!
- More affordable second-hand market
Labor expects the effects to trickle down into the second-hand market too. The more EVs coming into Australia, the more choice and better price for second-hand EVs.