Excise duty - figures from a couple of years ago: Australian motorists will pay over $13.7 billion in net fuel excise this financial year, and $60.1 billion over the next four years (2022-23 to 2025-26), as forecast in the October 2022 Federal budget. For a typical household, this year’s fuel excise bill will be $1,210.
With electric cars this money has to come from somewhere. Could AUS possible adopt the NZ solution. We have road user charges - a system originally set up to give farmers low tax diesel and to tax the normal road users with diesel cars. So the system allows the easy introduction of the charges for EV cars. After a few years grace this comes into effect shortly for electric and plug in hybrids. Full EV will be 76 NZD per 1000km. Plug ins will be 53 NZD per 1000km.
Governments cannot afford to lose this income.
LTR Price at posting:
97.5¢ Sentiment: None Disclosure: Held
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