Electric vehicles tax cuts approved by Senate
Owners of electric vehicles will be able to save some extra cash after the Senate approved tax cuts following last-minute negotiations.
The Electric Discount Car Bill is now expected to pass into law on Friday, with the Senate voting in favour of the Bill 31-24 votes.
The Bill is expected to cut taxes on electric vehicles which cost less than $84,916.
Employers could save $12,500 on an electric vehicle package under the Bill, and individuals can look to save as much as $4,300 when purchasing a $64,000 electric vehicle.
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The tax cuts are said to be backdated to July 1, 2022 however the new discounts were only passed through Senate after negotiations between the Greens, the Labor government and independent David Pocock took place.
https://www.news.com.au/technology/motoring/on-the-road/electric-vehicles-tax-cuts-approved-by-senate/news-story/23a938432f3b3ed4ab0a1dec268bb22d
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