Electric Vehicle owners benefit from government initiatives

Red Tesla EV

The Electric Vehicle (EV) sector might still be in its infancy with it representing 1.8% of new vehicle sales in 2022, but demand is increasing. According to the Federal Chamber of Automotive Industries (FCAI), there was an 83% increase in EV sales to the end of June 2022*, compared with the corresponding period in 2021.

At beCarWise, we’ve also noticed a significant increase in demand: in the first 6 months of 2022, the number of EVs we have arranged novated leases for has almost doubled, compared to same period in 2021.

Of the 1.8% of electric car sales, Toyota-style hybrids account for 7.6 per cent, whilst Volvo has thrown down the EV gauntlet, with its new Polestar Engineered electric cars – which hit our shores in early 2022. Tesla is already a big seller in Australia, accounting for 48% of electric vehicle sales^, while several other major car manufacturers – e.g., Ford, Hyundai, Volkswagen and Kia – have all made commitments to go entirely or predominantly electric by the middle of the next decade.

So, what’s in it for you? Here we give a rundown of government EV policies.

At a glance: 


Announcement: On 27 July 2022, the Government has introduced the Treasury Laws Amendment (Electric Car Discount) Bill 2022 into Parliament.

This draft legislation is aimed to help increase the adoption of electric vehicles by making them more affordable for Australians. EV owners will greatly benefit from this bill as Fringe Benefit Tax (FBT) will now be exempt. This exemption will apply to:

After 30 June 2025, this exemption will again be reviewed.

For individuals who purchase a Tesla Model Y using a beCarWise novated lease, their saving would be up to $6,900 each year.



The NSW government made a $490 million commitment, beginning 1 September 2021, that includes:

To encourage EV uptake, the NSW Government has updated policies and legislation to allow EV drivers to use T2 and T3 transit lanes for a limited time.



The VIC government has said it wants electric cars to make up half of sales by 2030. Its $100 million package includes:

Victoria became the first Australian state to introduce a ‘user pays’ road tax for electric vehicles. From July 1 2022, owners of pure electric and plug-in hybrid cars will pay a tax on every kilometre driven, with two different per-kilometre rates depending on the vehicle:

However, for EV owners with a novated lease, there’s peace of mind that all running costs are covered! 



Queensland’s EV policies include: 



The ACT government is offering a range of incentives to increase the number of zero-emission cars on the road:



The South Australian Government is investing $53.25 million to deliver an Electric Vehicle Action Plan, with the aim to make electric vehicles the primary choice for drivers by 2030.



The WA government is making a $21 million investment in infrastructure and is committed to converting 25% of the government fleet to EVs by 2026.



The Tasmanian Government has established the Electric Vehicle Working Group which is committing to support the uptake of electric vehicle ownership.



The Northern Territory Government has developed an EV strategy and implementation plan, which includes a range of actions over the next 5 years.

From 1 July 2022 to 30 June 2027, the NT Government will waive:

From 1 July 2022, the Electric Vehicle Charger (Residential and Business) Grants Scheme will be available to owners of EVs to buy and install EV chargers, with a total of $300,000 being committed. This includes 100 residential grants of $1,000 and 80 business grants of $2,500.


At beCarWise you can rest easy knowing that all vehicle running costs – such as the tax on electric vehicles – are factored into and covered in your regular novated lease repayments. Put simply, it means that any expenses are reimbursed as part of your running cost allowance. This makes budgeting simple and payments convenient – for the life of your lease.

*These figures exclude Tesla, which did not report its sales figures to the FCAI.

^Reference article.

Photo Credit: Tesla

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