News in brief…6 May 2026

Full FBT exemption for EVs to be phased out for permanent 25 percent discount from 2029 onwards; Middle East conflict fuel price surge spikes household spending in March: ABS

Full FBT exemption for EVs to be phased out for permanent 25 percent discount from 2029 onwards The Federal Government has announced that it will be winding down the full fringe benefits tax (FBT) exemption for electric vehicles (EVs) to a permanent 25 percent discount over the next three years. According to Treasurer Jim Chalmers, changes to the FBT for EVs will be brought in progressively through three phases: first phase (till 31 March 2027) – the existing electric vehicle disco...

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Published Date: 06 May 2026