5 ms·

Here it is from the ATO: https://www.ato.gov.au/Business/Fringe-benefits-tax/Types-of-fringe-benefits/fbt-on-cars,-other-vehicles,-parking-and-tolls/electric-ca

by loun 4y ago

Here it is from the ATO: https://www.ato.gov.au/Business/Fringe-benefits-tax/Types-of-fringe-benefits/fbt-on-cars,-other-vehicles,-parking-and-tolls/electric-cars-exemption/ https://www.ato.gov.au/Business/Fringe-benefits-tax/Types-of... It came into effect a few months ago, but was back dated to 1 July 2022.

JellyYelly 4y ago
I think the original comment is misleading. As far as I can tell you need your employer to buy the EV for you; and then they don't have to pay Fringe Benefits Tax on it. This might benefit people who get a "company car" but I don't know of anyone who has gotten a fringe benefit as large as a car from their employer before. I don't doubt it happens but I doubt it helps anyone except employees and employers who could comfortably afford the tax to begin with. I'm not a tax expert so I could be completely misunderstanding this though.
- sjy 4y ago
  It’s common – you accept a reduced salary in exchange for the fringe benefit. It works particularly well for FBT-exempt employers like charities and state health departments. https://en.wikipedia.org/wiki/Salary_packaging https://en.wikipedia.org/wiki/Salary_packaging
- grecy 4y ago
  It also requires the vehicle to NOT be subject to Luxury Car Tax ... which many longer range EVs are.
- rippercushions 4y ago
  No, it's very common and there are companies that exist to provide this as a service, just look up "novated lease".