$3,000 EV rebate for NSW residents gets green light

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on October 21, 2021
$3,000 EV rebate for NSW residents gets green light

The NSW Government is offering $3,000 rebates to those willing to make the switch to an electric vehicle (EV).

The rebate forms part of the NSW EV Strategy legislation announced on Thursday, which commits $490 million towards EV uptake, and also includes significant infrastructure upgrades by installing EV chargers across the state.

In order to be eligible for one of the 25,000 rebates on offer, motorists must have registered their new EV with Service NSW from 1 September.

Applications for the NSW EV rebates will open on 1 November, with eligible electric vehicles able to use Transit T2 and T3 lanes from the same date until at least 31 October 2022.

The $3,000 rebate applies to new electric cars priced below $68,750 - close to the current regular luxury car tax (LCT) threshold, even though EVs are exempt from LCT until $79,659.

The State Government will also waive stamp duty for EVs priced below $78,000.

NSW Treasurer and Minister for Energy and Environment Matt Kean said the EV Strategy is 'nation-leading' and will ensure at least 50% of new cars sold by 2030 are electric.  

"To achieve net zero emissions by 2050, the majority of new cars sold in NSW need to be EVs by 2035," Mr Kean said. 

"This is the beginning of an EV revolution in NSW, with more drivers set to benefit from lower taxes and $3,000 rebates on their next EV purchase."

The NSW Government will also roll out 'EV Tourist Drives' across New South Wales to ensure regional communities don't miss out on their share of the benefits of EVs.


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        Jacob Cocciolone joined the Savings team in 2021 as a Finance Journalist. Driven by a passion for keeping Australians up to date with the latest financial news and trends, his areas of interest include financial technology, investing, property and motoring.

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