The Academy of Technological Sciences and Engineering (ATSE) has welcomed the Treasury Laws Amendment (Electric Car Discount) Bill 2022 and its passage through the Senate.
The Bill will amend the fringe benefits legislation to exempt electric vehicles (battery electric, hydrogen fuel cell and plug-in hybrid) from the fringe benefits tax, when purchased through an employer. The Academy hopes this Bill will boost uptake of EVs for business vehicle fleets and welcomes the commitment from the Government to use EVs for their own fleets.
ATSE has previously recommended incentives for businesses to invest in low- and zero-emission vehicles as fleet vehicles. To create a successful and sustainable national electric vehicle strategy, ATSE also recommends policies to support the electrification of all vehicle segments, including freight, public transport, and industrial transport.
ATSE recommends a regulatory framework to guide a safe and sustainable future second-hand EV market, and rapid investment in and deployment of national charging infrastructure, as well as investment in up-scaling a green energy network that can take the increased base-load required for broad-scale uptake of electric vehicles.
ATSE also urges proactive policy frameworks to proactively nurture a circular economy approach to the electrification of Australia’s vehicle fleet – embedding sound product stewardship and re-use and recycling pathways for EVs, batteries, and other components.
See ATSE’s submission on the National Electric Vehicle Strategy for more detail.