Electric Vehicle Novated Lease

Currently yes, EVs are more expensive than typical I.C.E. vehicles.
With the new ‘Electric Car Discount Bill 2022’, the amount you save with an EV on a Novated Lease increases dramatically, and the prices drop significantly.

Absolutely not. If anything they’re much more economical.
To drive a petrol car 100kms, would cost approximately $20.81 where fuel is $2 a litre.
To drive a diesel car 100kms, would cost approximately $9.37 where fuel is $2 a litre.
To drive an EV 100kms, would cost approximately $4.50 of electricity. (peak vs offpeak costs vary), and if you have solar installed at home you’ll save even more!

EV’s are also much cheaper to service, and require much less frequent servicing as there’s nowhere near as many moving parts susceptible to breaking, and general wear and tear.

While it’s been a slower start to getting charging stations available all around the country, they’re about to start popping up everywhere. Find your nearest public charging station here.

As battery technology continues to improve, so does the average range a new EV can travel on a single charge. You can easily find new EV’s that can travel up to 500kms. That is more than enough, considering most Australians live in metropolitan areas and travel an average of 30-40 kms in their daily journeys.

All electric vehicles must meet the same Australian car safety standards as other vehicles. Also, as the battery is located near to the ground, the cars centre of gravity is much lower, providing much better handling. You’re also not carrying around a tank full of petrol.

There are a few points to consider about EV’s and their green status:

• EV’s don’t create exhaust pipe emissions, so they don’t cause fine particulate pollution or expel carbon dioxide/ monoxide etc. This reduces air pollution and improves the air quality for pedestrians and cyclists.
• While they use electricity (mostly created by coal burning power stations) to be recharged, greener power sources are become more abundant. Research by the European Energy Agency found that, even with electricity generation, the carbon emissions of an electric car are around 17 – 30% lower than driving a petrol or diesel car.
• The batteries in an EV are fully recyclable. As technology advances, the lifetime and efficiencies of EV batteries will improve even further.

It is pretty much like leasing a car on 100% operating costs without the need to keep a log book. The total running costs of your car is deducted from your salary before tax which reduces your taxable income.

Rebates differ from state to state.

Queensland’s EV policies include:

• a $10 million co-fund to support public charging infrastructure, in partnership with local government and industry
• annual discount on vehicle registration
• reduced stamp duty for EVs and hybrid vehicles
• $3,000 rebate for zero-emission vehicles valued up to $58,000 (including GST) purchased from the 16 March 2022 onwards.

The Northern Territory Government has developed an EV strategy and implementation plan, which includes a range of actions over the next 5 years.

From 1 July 2022 to 30 June 2027, the NT Government will waive:

• stamp duty fees for the sale of plug-in EVs up to $50,000 – providing a saving of up to $1,500
• the registration fee when you register an EV – providing an annual $91 saving.

From 1 July 2022, the Electric Vehicle Charger (Residential and Business) Grants Scheme will be available to owners of EVs to buy and install EV chargers, with a total of $300,000 being committed. This includes 100 residential grants of $1,000 and 80 business grants of $2,500.