Electric car tax breaks could be scrapped. An opinion piece on news.com.au asks why ute tax breaks get less attention.
Key Facts
- Government modelling: EV tax breaks to cost $23.4 billion by 2036
- EV FBT exemption began July 2022
- Annual cost rose from $55 million to $560 million
- Productivity Commission recommends scrapping it
The EV Tax Break
The Productivity Commission said the EV exemption is costly and now “duplicative” with the New Vehicle Efficiency Standard.
The Ute Question
Work utes can be exempt from fringe benefits tax if used mainly for work. Minor private use is allowed.
The Australia Institute said high-end utes cost over $250 million in lost luxury car tax in 2023.
Frequently Asked Questions
What is the EV FBT exemption?
A tax break for electric cars through novated leases.
Why might it go?
The Productivity Commission says it costs too much.
Do utes get tax breaks?
Work utes can avoid FBT and luxury car tax.
Conclusion
The debate is about fairness in car tax rules.
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