NSW EV rebates and tax breaks to be backdated due to Covid delays
The NSW Government has confirmed that proposed rebates and tax breaks on EVs will be backdated to September 1 despite Parliament not being able to meet to pass the bill prior to its introduction.
Part of a $490 million package to increase the uptake of EVs in NSW to 50 percent by 2030, the rebates and abolition of stamp duty are seen as key incentives to boost sales of EVs, which for the first half of 2021 are at record highs.
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In a media release jointly issued today by Treasurer Dominic Perrottet, Transport and Roads Minister Andrew Constance and Energy and Environment Minister Matt Kean, the government confirmed the savings of up to about $5500 would be available as a refund after the purchase of the vehicle and once the bill has been passed.
“The NSW Government remains fully committed to the Electric Vehicle Strategy and delivering on what we promised for this emerging industry,” Mr Perrottet said, while cautioning there was still a chance for the bill to be blocked in Parliament.
“We will keep to our September 1 go-live date, however, it is important both the industry and those considering purchasing an EV understand the availability of incentives is contingent on the Electric Vehicles (Revenue Arrangements) Bill 2021 passing Parliament.
“It’s incumbent upon all political parties to get behind this Bill and this industry.”
The announcement is a relief to the automotive industry, which has seen some buyers hold off purchases in the state that accounts for more vehicle sales – and more sales of EVs – than any other.
With the promise of a post-purchase refund the industry will be expecting to begin delivering more EVs to NSW from the start of September.
“We have applied retrospectivity to our policy, to ensure the market is not held up due to the COVID-19 pandemic,” said Mr Kean.
The news was welcomed by the Federal Chamber of Automotive Industries, which said it had been working with the government on such measures.
“The NSW Government EV Strategy has the potential to deliver a financial reform and automotive incentive package that sets the precedent for other Governments to follow in its drive to increase electric vehicle uptake,“ said FCAI chief executive Tony Weber.
