{"id":15549,"date":"2023-10-05T09:27:42","date_gmt":"2023-10-04T22:27:42","guid":{"rendered":"https:\/\/electricvehiclecouncil.com.au\/?post_type=docs&#038;p=15549"},"modified":"2023-11-23T14:01:22","modified_gmt":"2023-11-23T03:01:22","password":"","slug":"what-is-the-fbt-exemption-and-how-does-it-reduce-the-cost-of-an-ev","status":"publish","type":"docs","link":"https:\/\/electricvehiclecouncil.com.au\/docs\/what-is-the-fbt-exemption-and-how-does-it-reduce-the-cost-of-an-ev\/","title":{"rendered":"What is the FBT Exemption and how does it reduce the cost of an EV?"},"content":{"rendered":"<p><span class=\"TextRun SCXW153646502 BCX0\" lang=\"EN-AU\" xml:lang=\"EN-AU\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW153646502 BCX0\">The fringe benefits tax exemption <\/span><span class=\"NormalTextRun SCXW153646502 BCX0\">introduced last year <\/span><span class=\"NormalTextRun SCXW153646502 BCX0\">removed the tax for EVs under <\/span><span class=\"NormalTextRun SCXW153646502 BCX0\">$<\/span><span class=\"NormalTextRun SCXW153646502 BCX0\">89<\/span><span class=\"NormalTextRun SCXW153646502 BCX0\">,<\/span><span class=\"NormalTextRun SCXW153646502 BCX0\">332 (luxury car tax threshold for fuel-efficient<\/span><span class=\"NormalTextRun SCXW153646502 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW153646502 BCX0\">v<\/span><span class=\"NormalTextRun SCXW153646502 BCX0\">ehicles<\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW153646502 BCX0\">)<\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW153646502 BCX0\">,<\/span><\/span><span class=\"TextRun SCXW153646502 BCX0\" lang=\"EN-AU\" xml:lang=\"EN-AU\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW153646502 BCX0\"> which makes EVs more affordable and attractive for fleets and <\/span><span class=\"NormalTextRun SCXW153646502 BCX0\">eligible <\/span><span class=\"NormalTextRun SCXW153646502 BCX0\">individuals.<\/span> <span class=\"NormalTextRun SCXW153646502 BCX0\">This policy <\/span><span class=\"NormalTextRun SCXW153646502 BCX0\">helps<\/span><span class=\"NormalTextRun SCXW153646502 BCX0\"> reduce the cost of an EV to be at parity with an equivalent petrol or diesel <\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW153646502 BCX0\">car<\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW153646502 BCX0\">\u00a0and<\/span> <span class=\"NormalTextRun SCXW153646502 BCX0\">is already <\/span><span class=\"NormalTextRun SCXW153646502 BCX0\">generat<\/span><span class=\"NormalTextRun SCXW153646502 BCX0\">ing<\/span><span class=\"NormalTextRun SCXW153646502 BCX0\"> significant demand for EVs in the near term.<\/span><\/span><span class=\"EOP SCXW153646502 BCX0\" data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p class=\"p1\">This incentives reduces the cost of paying for an eligible EV and covering car running costs through a novated lease by thousands of dollars per year. EVs and PHEVs valued up to the luxury car tax threshold ($89,332 in FY 2023\/24) are eligible for the FBT exemption. However, the exemption for PHEVs is due to expire on 1 April 2025.<\/p>\n<p>You can find out more about the FBT exemption, and eligible vehicles <a href=\"https:\/\/electricvehiclecouncil.com.au\/electric-car-discount\/\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/p>\n<div class=\"clearfix\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The fringe benefits tax exemption introduced last year removed the tax for EVs under $89,332&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"_acf_changed":false,"content-type":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"doc_category":[105],"doc_tag":[],"class_list":["post-15549","docs","type-docs","status-publish","hentry","doc_category-costsavings"],"acf":[],"aioseo_notices":[],"year_month":"2026-05","word_count":134,"total_views":"0","reactions":{"happy":"2","normal":"1","sad":"8"},"author_info":{"name":"Bailey Sievewright","author_nicename":"bailey","author_url":"https:\/\/electricvehiclecouncil.com.au\/author\/bailey\/"},"doc_category_info":[{"term_name":"Cost &amp; Savings","term_url":"https:\/\/electricvehiclecouncil.com.au\/docs-category\/costsavings\/"}],"doc_tag_info":[],"_links":{"self":[{"href":"https:\/\/electricvehiclecouncil.com.au\/wp-json\/wp\/v2\/docs\/15549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/electricvehiclecouncil.com.au\/wp-json\/wp\/v2\/docs"}],"about":[{"href":"https:\/\/electricvehiclecouncil.com.au\/wp-json\/wp\/v2\/types\/docs"}],"author":[{"embeddable":true,"href":"https:\/\/electricvehiclecouncil.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/electricvehiclecouncil.com.au\/wp-json\/wp\/v2\/comments?post=15549"}],"version-history":[{"count":5,"href":"https:\/\/electricvehiclecouncil.com.au\/wp-json\/wp\/v2\/docs\/15549\/revisions"}],"predecessor-version":[{"id":17105,"href":"https:\/\/electricvehiclecouncil.com.au\/wp-json\/wp\/v2\/docs\/15549\/revisions\/17105"}],"wp:attachment":[{"href":"https:\/\/electricvehiclecouncil.com.au\/wp-json\/wp\/v2\/media?parent=15549"}],"wp:term":[{"taxonomy":"doc_category","embeddable":true,"href":"https:\/\/electricvehiclecouncil.com.au\/wp-json\/wp\/v2\/doc_category?post=15549"},{"taxonomy":"doc_tag","embeddable":true,"href":"https:\/\/electricvehiclecouncil.com.au\/wp-json\/wp\/v2\/doc_tag?post=15549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}