New tax concession – electric cars FBT exempt

Announced as part of its election platform, the Federal Government has introduced legislation to provide an electric car discount

An electric car discount proposed as part of the 2022 Federal Election has piqued the interest of many. The Treasury Laws Amendment (Electric Car Discount) Bill 2022 was introduced to parliament on Wednesday 27 July, providing us with the long-awaited details of the proposed amendments to the Fringe Benefits Tax Assessment Act 1986 (FBT Act). These amendments form part of a larger objective of the Federal Government to reduce carbon emissions. It is expected that these amendments will make...

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Authors: Hayley Lock, Stacey Biggar,

Published Date: 28 July 2022