NSW is to be the best place in Australia to buy and drive an electric vehicle (EV) under the Department of Planning, Industry and Environment’s (DPIE) new nation-leading Electric Vehicle Strategy.
Treasurer Dominic Perrottet said the 2021-22 NSW Budget allocated $490 million to DPIE’s NSW Electric Vehicle Strategy which would see cut taxes, incentivised uptake and reduced barriers for electric vehicle purchases over the next four years.
“Our comprehensive Strategy is about making sure we have the right mix in place to incentivise the take-up of electric vehicles while ensuring everyone who drives on our roads contributes to funding and maintaining them,” Mr Perrottet said.
“Our Strategy also commences long-term major tax reform,” he said.
“Today we begin the process of permanently phasing out stamp duty on electric vehicles and a deferred transition to a fair and sustainable per-kilometre road user charge for electric vehicles.”
Mr Perrottet said that from September stamp duty for eligible EVs under $78,000 would be waived and $3,000 rebates would be available for the first 25,000 purchasers of battery and hydrogen fuel cell electric vehicles under $68,750.
Minister for Transport and Roads, Andrew Constance said the EV Strategy would help the State take action on climate change.
“Our transport sector currently makes up 20 per cent of the State’s emissions, with almost 50 per cent of those coming from passenger vehicles,” Mr Constance said.
“Electric vehicles are not only cheaper to run and quieter on our roads, but they also reduce both carbon emissions and air pollution which results in dramatically improved health outcomes for our communities,” he said.
Mr Constance said the average NSW driver would save around $1,000 a year in running costs by switching to an EV.
Minister for Energy and Environment, Matt Kean said the Strategy aimed to increase EV sales to more than 50 per cent of new cars sold in NSW by 2030 and for EVs to be the vast majority of new cars sold in the State by 2035.
DPIE’s 32-page EV Strategy can be accessed at this PS News link.
