Charging ahead: New guideline for calculating EV costs at home

Hayley Lock, Andy Larmour and Stephanie Renshaw discuss the ATO’s finalised practical guidance on calculating electricity costs when a vehicle is charged at an employee’s or individual’s home.

The Australian Taxation Office (ATO) released Practical Compliance Guideline (PCG) 2024/2 which provides a methodology to calculate the cost of electricity when an electric vehicle is charged at an employee’s or individual’s home. Employees and employers that meet certain criteria are able (but not required) to avail themselves of the methodology provided in the PCG and where they do, a home-charging rate of 4.20 cents per kilometre can be used for fringe benefits tax years or income tax yea...

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Authors: Hayley Lock, Andrew Larmour,

Published Date: 09 February 2024