The Government has advised that it has approved a FBT exemption for eligible cars made available for employees by employers.
The measures will apply retrospectively to eligible cars first used on or after 1 July 2022.
Eligible vehicles include:
- Battery electric vehicles
- Hydrogen fuel cell electric vehicles
- Plug-in hybrid electric vehicles – (up until 1 April 2025)
Additionally, to be eligible for the exemption the value of the car at the first retail sale must be below the luxury car tax threshold for fuel efficient cars. ($84,916 22/23 year)
Also, a second-hand electric vehicle MAY qualify for the exemption, provided that the car was first purchased new on or after 1 July 2022.
