Getting a Home Loan in Australia if you're living overs...
29 Nov 2023
More and more Australians are choosing electric vehicles with sales of plug-in electric cars soaring from 20,665 in 2021 to 33,410 in 2022. In the past year alone, electric vehicles made up 3.8% of new vehicle sales. These numbers are a far cry from the 2020 numbers of only 6,900 electric cars sold.
The surge in popularity of electric vehicles may, in part, be due to the electric car rebates offered by state and territory governments. Aside from the environmental benefits, Australian motorists have more incentive to go green with these electric car rebates.
Check out the electric vehicle rebates in your state or territory below:
The Sunshine State has recently launched the Queensland Zero Emission Vehicle Rebate Scheme. Eligible Queensland motorists can get $3,000 or $6,000 in rebates for new Zero Emission Vehicles (ZEV) purchased from 21 April 2023.
This electric car rebate scheme is eligible for full battery vehicles only. It’s open to both individuals and businesses. It’s one rebate per person and up to five rebates per Queensland business in a financial year.
In addition to the electric vehicle rebates, Queenslanders also pay less registration duty costs for hybrid or electric vehicles.
The New South Wales Government offers a $3,000 electric vehicle rebate for full battery electric and hydrogen fuel cell vehicles. The electric car rebate is available for the first 25,000 new eligible electric vehicles purchased for less than $68,750 dutiable value and registered on or after 1 September 2021.
New South Wales motorists can enjoy is stamp duty exemption along with the rebate. Those who registered an eligible vehicle from 1 September 2021 to 14 August 2022 may claim back the stamp duty they paid.
In Victoria, motorists can get a $3,000 electric vehicle rebate, however, it’s only applicable to the first 20,000 electric vehicles sold below $68,740. As of writing, the Zero Emissions Vehicle Subsidy is closed to new applications.
The South Australian Government has incentivised motorists to make the switch to electric vehicles with a $3,000 subsidy and a three-year registration exemption on eligible battery electric and hydrogen fuel cell vehicles first registered on 28 October 2021. This is available for the first 7,000 new electric vehicles registered in South Australia valued below $68,750 (including GST).
As of 14 August 2023, there are still 5,600 electric vehicle subsidies remaining. The electric vehicle subsidies are limited to one per South Australian resident and two per South Australian business.
In Western Australia, the Zero Emission Vehicle Rebate Scheme is there to encourage motorists to buy zero emission vehicles. You can receive a $3,500 rebate by purchasing an eligible vehicle and sending an application to the Department of Transport.
Eligible cars are categorised as vehicles powered solely by batteries or hydrogen fuel cells and don’t produce greenhouse gases. The rebate is available for the first 10,000 vehicles licensed in Western Australia or until 10 May 2025 (whichever comes first).
The Northern Territory Government provides a few incentives to motorists when buying an electric vehicle. For the sale of an eligible plug-in electric vehicle, you may see waived stamp duty fees of up to $1,500. The registration fee will also be waived for an annual saving of $91 (Motor Accidents Compensation and third-party insurance still applies). The waived fees last until 30 June 2027.
Aside from stamp duty fees, there’s also the Electric Vehicle Charger Grants Scheme. This is to encourage residents and businesses to buy and install their own electric vehicle chargers. There are 100 residential grants of $1,000 and 80 business grants of $2,500 available.
The Tasmania Electric Vehicle stamp duty exemption has lapsed last 30 June 2023. However, a spokesperson from the Tasmanian Department of Treasury and Finance revealed there will be incentives for the purchase of electric vehicles announced soon. This will be part of the Climate Change Action Plan 2023-2025.
The Australian Capital Territory Government offers plenty of incentives for residents to purchase a zero emissions vehicle or a hydrogen fuel cell electric vehicle. First-time buyers may be exempt from paying stamp duty and receive discounts on their ACT registration.
For new or used zero emissions vehicles purchased between May 2021 and 30 June 2024, owners may be eligible for free registration for two years.
In ACT, there’s a Sustainable Household Scheme that offers eligible households zero interest loans. Buyers can access up to $15,000 to buy a zero emissions vehicle.
Switch to an electric vehicle today! Check out our electric car loans and get the best deal on your car finance.
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