New South Wales waives stamp duty on EVs & spends $171m on chargers
The New South Wales (southeastern Australian state) government waive stamp duty on electric vehicle purchases. As part of a $490m strategy to drive uptake of electric vehicles, it will provide subsidies for 25,000 new purchases. Read further to know more about New South Wales stamp duty on EVs and chargers.
As per the government announcement, people buying battery and hydrogen fuel cell vehicles priced under $78,000 from 1 September is no need to pay stamp duty, and $3,000 rebates will be available on the same day for the first 25,000 private purchases of electric vehicles priced under $68,750. The government said that it will delay a previously mooted road user tax for zero- and low-emission cars for six years or until new EVs made up 30% of new car sales.
The electric vehicles industry has accepted the move of the government of providing subsidies and the delay of the road user charge. The head of the Electric Vehicle Council, Behyad Jafari said that NSW was the first state to treat EVs seriously as a globally necessary technology to combat the climate crisis.
The government’s plan is also including the new charging infrastructure and it is going to spend $171m which will include $131m on ultra-fast vehicle chargers, $20m in grants for “destination chargers” in regional areas and $20m for charging infrastructure at public transport hubs and on the land owned by Transport for NSW.
NSW’s electric charging infrastructure, while also opening up EV access to T2 and T3 lanes. Last year only 0.75 per cent of new cars sold in Australia were electric vehicles, which is far below the global average of 4 per cent.
Part of the government’s plan will be funded by a new road tax of 2.5c per kilometre for EVs and 2c per kilometre for plug-in hybrids, which is set to be introduced on July 1, or when EVs account for at least 30 per cent of NSW’s new car sales.
Energy and environment minister, Matt Kean, has said that “our aim is 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”.
In total, the NSW government says more than $490 million has been reserved for the EV incentive and charging infrastructure overhaul to increase sales to 52 per cent share by 2030.
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