Drivers of new environmentally-friendly cars are to be able to apply for a stamp duty refund and a $3,000 rebate from next month.
Announced by Treasurer and Minister for Energy and Environment, Matt Kean, legislation to support the Department of Planning, Industry and Environment’s (DPIE) NSW Electric Vehicle (EV) Strategy passed last week.
Mr Kean said the Department’s Strategy was nation-leading and would ensure that at least 50 per cent of new cars sales were Electric Vehicles (EV) by 2030.
“To achieve net zero emissions by 2050, the vast majority of new cars sold in NSW need to be EVs by 2035,” he 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.
“Drivers who have registered a new, eligible EV after 1 September 2021 can apply for a refund of the stamp duty and one of the 25,000 rebates worth $3,000.”
Mr Kean said stamp duty refund and rebate applications would open on 1 November.
“Also from 1 November, eligible electric vehicles will be able to use Transit T2 and T3 lanes until at least 31 October 2022, making travelling in an EV even easier,” he said.
Premier, Dominic Perrottet said the Strategy started NSW down the road of long-term tax reform to phase out stamp duty on EVs and ensure that everyone who drove on State roads contributed to their funding and maintenance.
Minister for Transport and Roads, Rob Stokes said the DPIE’s Strategy would also help to reduce air and noise pollution.
“The transport sector currently makes up one-fifth of carbon emissions in NSW, with almost half of those coming from passenger vehicles,” Mr Stokes said.
“This policy will give the green light to industry to increase model availability and cut the costs of EVs,” he said.
The Department’s 31-page Strategy can be accessed at this PS News link.
