Government electric car incentives.
Find out what EV incentives your state offers.
Hyundai is committed to the future of electric vehicles (EV) in Australia with the intention to launch 44 electrified vehicles by 2025*. Therefore, it is great to see Australian states encouraging this monumental market shift as well through a variety of subsidies and incentives. These electric car incentives do vary slightly state-by-state but each share our intentions to encourage the purchase of electric cars, reduce emissions and make our world a safer place to live.
Read on below to learn what incentives are available in your state.
New South Wales incentive.
Over the next four years the NSW Government is investing close to half a billion dollars in tax cuts and incentives to reduce barriers for electric vehicle purchases. The goal is to increase EV sales to over 50% by 2030-31 and have the majority of new car sales as EVs by 2035.
Further information can be found below or visit here.
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Currently EVs and some PHEVs receive a small discount on registration fees. The actual size of the discount is yet to be confirmed.
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Stamp Duty has been waived completely on EVs under $78,000 (inc.GST) from the 1st September 2021. This puts up to $3,000 back into the bank of EV purchasers.
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The NSW government is offering a $3,000 cash rebate for the first 25,000 EVs bought for less than $68,750 (inc.GST). This rebate – along with the removal of stamp duty on EVs - will save eligible EV purchasers up to $5,540 and will come into effect from the 1st September 2021.
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A road user charge of 2.5 cents per km will apply to eligible EVs from 1 July 2027 or when 30% of all new vehicle purchasers are EV based. Plug-in hybrid EVs will be charged a fixed 80% proportion of the full road user charge to reflect their vehicle type.
Currently, the average petrol or diesel vehicle owner pays approx. $613 a year in fuel excise. Under the above new road user system, EV drivers will pay on average $315 annually.
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Under the NSW Net Zero Plan (2020-2030) the NSW Government will be offering incentives to support the uptake of EV vehicles to support medium to large size fleets. This will be undertaken via a reverse auction process and more information can be found here here.
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Over the next four years from 2021, the NSW Government has committed $171 million to help drive the installation of EV charging infrastructure across the whole state.
The commitment promises charging infrastructure at every 5km along Sydney’s major commuter corridors, on average every 100km along major highways in NSW and in or near commuter car parks and other Transport for NSW owned land.
Victorian zero-emissions vehicle scheme.
The Victorian Government has committed $100 million dollars to achieving 50% EVs by 2030. They’re making it easier to buy an electric vehicle sooner through the Zero Emissions Vehicle (ZEV) initiative which provides a subsidy for the purchase of an electric vehicle and driving Victoria’s transition to a net zero emissions future.
Further information can be found below or here.
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Currently in Victoria BEVs, PHEVs and FCEVs are entitled to a $100 discount on registration fees.
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The VIC government is offering a $3,000 cash rebate for the first 20,000 EVs and FCEVs bought for less than $68,740 (inc.GST) and came into place on the 2nd May 2021. The incentive will last for 3 years or until the quota is reached.
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A road user charge of 2.5 cents per km will apply to eligible EVs and FCEVs and 2.0 cents per km for PHEVs effective from the 1st July 2021.
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The VIC Government is committing $10 million to expanding the Government’s EV fleet by 400 vehicles over the next two years. These purchases will encourage the introduction of models into the Victorian market and increase options in the second-hand market. This has the potential to increase the availability of more affordable ZEV options to Victorian businesses.
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$19 million is being committed to the energy sector and will include the infrastructure (charging stations etc) for EV vehicles.
Australian Capital Territory incentive.
The ACT Government has committed to reducing emissions from vehicle travel by providing a range of incentives for the purchase of ZEVs to encourage the uptake by ACT drivers. They also commit to an upgrade of related infrastructure to facilitate a smooth transition to ZEVs on the roads.
Further information can be found below or here.
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The ACT Government has waived registration fees for ZEVs for the first 2 years. Both new and used ZEVs are eligible starting from 24 May 2021 and is currently set to end on the 30th June 2024.
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Stamp Duty has been waived completely for ZEVs with under 130g/km CO2 emissions. There is no threshold on the price of vehicle as in other states but it is for first time registrations only.
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If you’re an ACT resident then you’re entitled to claim your share of $150 million in interest free loans. If your vehicle is a ZEV under $79,659 (LCT Lim) you can borrow from $2,000 up to $15,000 per applicant, subject to credit checks and so forth.
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The ACT Government has committed to commence work on a ZEV Public Charging Masterplan for the rollout of charging infrastructure, including 50 publicly accessible charging stations in 2021-22.